Singapore-based fund manager Clime Capital, which focuses on accelerating the low-carbon transition, has announced a new Series A equity investment in Vietnamese clean energy solutions provider Stride. The round also includes participation from UOB Venture Management ( UOBVM ) and returning investor Touchstone Partners.

Founded in 2021, Stride has quickly emerged as a leading solar energy platform in Vietnam. Headquartered in Ho Chi Minh City, it has built a robust local presence with a digital-first platform that helps overcome common barriers to solar adoption by offering a bundled package of financing, technology, and quality assurance through partnerships with a wide installer network.

The Series A round, co-led by Clime and UOBVM, is undisclosed in size but is designed to unlock green financing and fast-track the rollout of rooftop solar and battery storage systems across the country. With Vietnam’s residential and SME market expanding rapidly, the investment will help Stride scale operations and broaden access to clean energy.

This investment builds on prior support from Clime’s Seacef I fund, which backed Stride during its seed round in 2023, and follows a 2024 debt financing deal with Swedish impact lender Trine.

The latest equity comes from Clime’s second fund, Seacef II, which also committed up to US$10 million in October 2024 to Indonesian distributed solar developer PT Investasi Hijau Selaras.

“With its unique position as a company that supports micro businesses transitioning to solar energy through rooftop installations, Stride is contributing to the clean energy transition needs of Vietnam,” says Clarissa Loh, executive director at UOBVM. “This new round of financing will enable Stride to further scale its solution, creating positive social and environmental impact in Asean.”

Vietnam’s ambition, laid out in Power Development Plan VIII, targets over 25 gigawatts of new solar capacity by 2030, with solar accounting for 45% of new energy capacity additions. Stride’s model aligns directly with this national vision, supporting decarbonization efforts while delivering cost-effective energy solutions for households and businesses.

This is UOBVM's first investment in Stride. Since 1992, UOBVM has been providing financing to privately held companies in Southeast Asia and Greater China through direct equity investment.

UOBVM, a wholly-owned subsidiary of United Overseas Bank, is a signatory of the Operating Principles for Impact Management and the United Nations-supported Principles for Responsible Investment. It is also the fund manager for the Asia Impact Investment Fund series and has assets under management above S$2 billion ( US$1.5 billion ).

Stride, a provider of low-cost clean energy solutions to residential and SME customers in Vietnam, has secured a Series A equity investment from Clime Capital and UOB Venture Management.

The investment, with the participation of existing investor Touchstone Partners, will support the company in scaling its business and unlocking green financing from existing and new lenders.

Stride’s platform combines tailored financing, technology, and quality assurance solutions to reduce barriers to entry for rooftop solar and battery energy storage system adoption in the country.

The company is achieving rapid growth by leveraging its proprietary digital platform and partnering with a wide network of solar installers.

To meet the electricity requirement for economic development, Vietnam’s Ministry of Industry and Trade is currently revising its power development plan – the Power Development Plan VIII ( PDP8 ) – to increase solar power capacity by more than 25 gigawatts to 34GW by 2030. Solar alone accounts for about 45% of this additional power capacity.

Stride says its innovative platform will help support PDP8 to facilitate mass-scale solar energy uptake in Vietnam.

“We are delighted to have attracted a further round of equity investment to fuel Stride’s growth,” says Stride co-founder and chief executive officer Andrew Fairthorne. “This will help Vietnam move toward achieving its climate goals by enabling more households and small businesses to access cost-efficient green energy.”

Early-stage risk capital

Since its inception in 2021, Stride has been scaling its footprint across Vietnam. In May 2023, the company secured seed-stage equity capital from Clime via its first fund, Seacef I, and Touchstone Partners. In 2024, it arranged debt financing from Trine, a Sweden-based investment platform dedicated to financing solar companies in emerging markets. Clime’s new investment comes via its Seacef ll fund.

“Clime’s approach means that as portfolio companies meet their growth and development targets, further equity funding is available to accelerate their progress,” says Vanshika Khemka, investment manager at Clime Capital. “Stride’s success demonstrates the effectiveness of deploying early-stage risk capital into promising clean energy companies.”

This is the first investment of UOB Venture Management ( UOBVM ) in Stride. Since 1992, UOBVM has been providing financing to privately held companies in Southeast Asia and Greater China through direct equity investment.

UOBVM, a wholly-owned subsidiary of United Overseas Bank, is a signatory of the Operating Principles for Impact Management and the United Nations-supported Principles for Responsible Investment. It is also the fund manager for the Asia Impact Investment Fund series and has assets under management above S$2 billion ( US$1.5 billion ).