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Energy management

ValueQuest Tristar Fund Invests INR 125 Crore in Waaree Energy Storage Solutions Pvt. Ltd.

Strategic Insights

— 1 min read

ValueQuest Tristar Fund, a private equity investment manager, has led a private round investment of INR 125 Crore in Waaree Energy Storage Solutions Pvt. Ltd. (WESSPL), the battery energy storage arm of Waaree Energies Ltd. This investment marks the fund's second investment in the energy transition sector and supports India's "Make in India" initiative by enhancing domestic manufacturing of advanced energy storage systems. WESSPL plans to manufacture Lithium-ion and/or Sodium-ion Cell, Pack, and Battery Energy Storage Solutions with a total target capacity of 20 GW, delivering end-to-end clean energy solutions.

Key Takeaways:

  • ValueQuest Tristar Fund leads a private round investment of INR 125 Crore in Waaree Energy Storage Solutions Pvt. Ltd. (WESSPL).
  • The investment aligns with the fund's strategy focused on energy transition, aerospace, defence, precision engineering, and manufacturing sectors.
  • WESSPL aims to manufacture 20 GW of Lithium-ion and/or Sodium-ion Cell, Pack, and Battery Energy Storage Solutions.
  • The investment supports India's "Make in India" initiative and enhances domestic manufacturing of advanced energy storage systems.
  • ValueQuest believes India's energy transformation will be driven by strong domestic manufacturing capabilities.
  • The fund's first close was announced in June 2025, with 65% of the target corpus subscribed.
  • ValueQuest Tristar Fund made its maiden investment of INR 100 Crore in Rangsons Aerospace Pvt. Ltd. and continues to evaluate similar investment opportunities across its focus sectors.

Statistics:

  • INR 125 Crore investment by ValueQuest Tristar Fund in Waaree Energy Storage Solutions Pvt. Ltd. (WESSPL).
  • WESSPL aims to manufacture 20 GW of Lithium-ion and/or Sodium-ion Cell, Pack, and Battery Energy Storage Solutions.
  • 65% of the target corpus subscribed for ValueQuest Tristar Fund at the first close in June 2025.
  • INR 100 Crore investment by ValueQuest Tristar Fund in Rangsons Aerospace Pvt. Ltd.

Sources:

  • "ValueQuest Tristar Fund leads round with INR 125 Crore investment in Waaree Energy Storage Solutions Pvt. Ltd. (WESSPL)," HT Digital Content Services, with permission from Business Wire India, October 17,.
  • "About ValueQuest," ValueQuest Investment Advisors Pvt. Ltd., 2010.

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