What SER Capital Partners does

SER Capital Partners is a middle-market private equity firm founded in 2018 by Rahul Advani and headquartered in Redwood City, California, with a regional office in New York City. The firm is employee-owned (described as minority and woman-owned) and is dedicated exclusively to North American sustainable industrial, environmental, and renewable businesses. It targets middle-market opportunities where its team can act as an active operating partner, supplying capital alongside strategic and operational support. As of recent reporting, SER has raised over $500 million in capital commitments and closed its debut fund, SER Capital Partners I, LP, at $475 million in September 2022. Limited partners include endowments, state pensions, insurers, health systems, and family offices; Capricorn Investment Group's Sustainable Investors Fund took a strategic minority investment in the firm in January 2024.

SER's portfolio spans seven operating companies across complementary clean-economy verticals. Charah Solutions (acquired July 2023 at $6.00 per share, ~600 employees) provides environmental services and byproduct recycling to the power generation industry. Brightcore Energy (committed $82M in August 2021) delivers end-to-end clean energy solutions including solar, geothermal, LED lighting, EV charging, and battery storage to commercial, industrial, and institutional real estate. MicroGrid Networks (acquired June 2020) installs battery energy storage systems in New York City, with 250+ MWh under construction and a strategic co-investment from Palisade Infrastructure in February 2026. Perfect Power focuses on energy storage and renewable asset development. C2Zero (formed May 2024 with Daroga Power) operates distributed urban carbon capture projects using pressure-swing adsorption. Paladin EnviroTech (formed July 2025) entered e-waste recycling and IT Asset Disposition through acquisitions of TechSmart International in Florida and Integrated Recycling Technologies in Minnesota, with a strategic investment from South Korea-based Daeheung M&T.

SER's business model is a standard private equity fund management structure: it earns management fees on committed or invested capital, carries interest on fund returns, and creates value through operational improvements and exits at portfolio companies. The firm has completed one notable exit to date (eight Texas energy storage assets sold to Gore Street Energy Storage Fund in March 2022) and reports 7.1 million metric tons of avoided CO2 emissions since January 2023 as a portfolio-level ESG metric. The firm partners with strategic operators and technology suppliers across its portfolio, including LG Chem (battery storage), Fluence (energy storage technology), and Con Edison (NYC infrastructure relationships).

Name

SER Capital Partners

Legal name

SER Capital Partners, LLC

Website

https://sercapitalpartners.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

SER Capital Partners is a middle-market private equity firm founded in 2018 that invests in North American sustainable industrial, environmental, and renewable businesses, managing over $500M in capital commitments across a portfolio spanning battery storage, clean energy, carbon capture, and e-waste recycling.

Ownership category

akta.pro rank

Product category

Private Equity (Sustainable Infrastructure)

NAICS

Other Investment Pools and Funds (5259), Other Financial Investment Activities (5239), Portfolio Management and Investment Advice (523940)

akta.pro primary industry

Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure) (FSAAALAG)

akta.pro secondary industry

Alternative Investments for Private Wealth (Hedge Funds, PE/VC Access, Private Credit) (FSAAABAI)

Keywords

• Private equity investing
• Sustainable infrastructure
• Renewable energy investments
• Environmental services
• Middle market investing

Headquarters

HQ city

Redwood City

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Private Equity Management: SER Capital Partners generates returns through private equity investments in sustainable industrial, environmental, and renewable businesses. The firm earns returns through portfolio company value creation, operational improvements, and eventual exits.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels4 records

Core offering

SER Capital Partners is a middle-market private equity firm that invests capital into sustainable industrial, environmental, and renewable businesses across North America. The firm raises private equity funds from institutional investors and deploys that capital to acquire, build, and operate portfolio companies in battery storage, EV charging, distributed renewables, energy efficiency, environmental services, carbon capture, and e-waste recycling. Revenue is generated through management fees and investment returns from these portfolio companies.

Product overview

SER Capital Partners operates as a private equity investment firm, not a product company with a unified software platform. Its core offering is investment capital and strategic partnership in sustainable businesses. The portfolio comprises distinct companies: Charah Solutions (environmental services and byproduct recycling for power industry), Brightcore Energy (end-to-end clean energy solutions including solar, geothermal, LED lighting, EV charging, battery storage), Perfect Power (energy storage and renewable development), MicroGrid Networks (battery energy storage systems in NYC), C2Zero (urban carbon capture), and Paladin EnviroTech (e-waste recycling and ITAD services). These portfolio companies operate independently with their own products and services.

Differentiator

Problem solved

Functional benefit

Products and services

• SER Capital Partners Fund I, LP

Quantifiable outcome

• 7.1 million metric tons of avoided CO2 emissions (mmtCO2e) since January 2023

Named customers3 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Six partnerships are on record, tiered minor and core.

• Daeheung M&TminorStrategic or Co-development Partner · 28 July 2025South Korea's leading middle-market e-waste recycling company provides Paladin EnviroTech with technical expertise and global supply chain connections built through 30+ years in the industry. Daeheung is also making a minority investment in Paladin.
• Daroga PowercoreStrategic or Co-development Partner · 24 May 2024SER formed C2Zero in partnership with Daroga Power to acquire, build, and operate distributed carbon capture projects. Daroga delivers construction-ready projects and manages development, offtake agreements, procurement, construction oversight, and operations under a development and management services agreement.
• MicroGrid NetworkscoreOthersSER acquired MicroGrid Networks in June 2020 - a Brooklyn-based developer and operator of battery energy storage systems in New York City with 250+ MWh under construction.
• LG ChemcoreTechnology or IntegrationStrategic arrangement with LG Chem, a leading lithium-ion battery supplier, to ensure the most environmentally sustainable, safest, and lowest cost equipment for Texas battery storage projects.
• HGP (Houston General Petroleum)minorOthersSER acquired three project companies from HGP, a Texas-based energy developer, in September 2020 for battery storage projects near renewable wind projects.
• Con EdisonminorStrategic or Co-development PartnerCon Edison mentioned as a partner helping create opportunities for MicroGrid Networks in New York City's energy infrastructure.

Scale indicators6 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Energy Capital Partners: Energy Capital Partners is a direct peer — a private investment firm focused on North American power generation, renewables, and environmental infrastructure. Rahul Advani and Steve Herman both previously served as Partner/MD at ECP, and SER targets an overlapping thesis in middle-market sustainable infrastructure.
• Hannon Armstrong Sustainable Infrastructure Capital: Hannon Armstrong (NYSE: HASI) is a capital and services provider focused on climate solutions including energy efficiency, renewable energy, and sustainable infrastructure. Rhem Wooten previously led origination there, and the investment focus directly overlaps with SER's battery storage, energy efficiency, and distributed renewables portfolio.
• Generate Capital: Generate Capital is a sustainable infrastructure investment platform deploying capital across energy, mobility, waste, and water. Its distributed, project-by-project investment model and sustainability mandate mirror SER's middle-market sustainable industrials approach.
• Closed Loop Partners: Closed Loop Partners is a private investment firm building the circular economy through investments in recycling, e-waste, and sustainable consumer goods. Paladin EnviroTech's e-waste/ITAD focus directly overlaps with Closed Loop's circular economy mandate.
• EnCap Investments: EnCap Investments is a leading private equity firm focused on the North American energy sector, investing across upstream, midstream, and energy transition. Its energy transition strategy competes directly with SER's clean power and renewable infrastructure focus.

Broad incumbents

• Brookfield Renewable Partners: Brookfield Renewable is one of the world's largest publicly-traded renewable energy platforms, operating across hydro, wind, solar, and storage. While far larger and broader, it competes for institutional capital allocations and clean energy deal flow against SER in the North American market.
• KKR Global Infrastructure Investors: KKR's infrastructure platform invests across digital, energy transition, and traditional infrastructure with multi-billion-dollar funds. It competes for the same institutional LP dollars and increasingly for sustainable industrial assets in the same geographies SER targets.
• I Squared Capital: I Squared Capital is a global infrastructure investor with energy transition, transportation, and digital infrastructure focus. Its energy transition strategy competes with SER for middle-market sustainable infrastructure assets in North America.

Emerging players

• Aligned Climate Capital: Aligned Climate Capital is an emerging private investment firm focused on clean energy infrastructure including solar, storage, and EV charging. It competes with SER in the middle-market clean energy space with a comparable strategy of building distributed clean energy platforms.

Others

• Capricorn Investment Group: Capricorn Investment Group is an investment firm managing the Sustainable Investors Fund, which made a strategic minority investment in SER Capital Partners in January 2024. As a financial partner and aligned impact investor, Capricorn is an LP/strategic backer rather than a competitor, but operates in adjacent sustainable investing.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/ser-capital-partners

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Subsidiaries8 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SER Capital Partners