Fundraising Fox
Miami · Growth · 18 people tracked
Also known as I Squared · I SQUARED CAPITAL ADVISORS (US) LLC · ISQ OPENINFRA REGISTERED ADVISOR LLC
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Investment thesis
I Squared Capital pursues a platform-development approach to global infrastructure investing, starting small and scaling businesses using global insights combined with deep local intelligence. It operates several strategies: Global Equity, targeting a diversified mid-market and larger portfolio with low asset-class correlation, downside protection, and risk-adjusted returns; Growth Markets, acquiring critical infrastructure in high-growth economies; Energy Transition, developing sustainable, low-carbon energy infrastructure; Infrastructure Credit, offering custom financing focused on current cash yield and downside protection; and InfraTech, backing growth-stage companies with proven technology and commercial applicability in infrastructure. Its investments span energy, utilities, transport and logistics, digital, social, and environmental infrastructure.
Source: firm website, verified Oct 5, 2026.
Team · 18 people
from the firm's website & curated & public directories
What they invest in
from 13 of 26 portfolio companiesEnergy ×5Enterprise Software ×5Cleantech ×4IoT ×4SaaS ×4Climate Tech ×3Hardware ×3AI & Machine Learning ×2
HQs:United States×9Germany×2Brazil×1Canada×1France×1United Kingdom×1
Investments · 26 tracked
founders shown can be your intro pathBy year:2025 · 12024 · 32023 · 22022 · 32021 · 12020 · 12016 · 112 dated
1NCE provides cellular IoT connectivity and software services for connected products across the IoT supply chain, offered under a single global "Lifetime Flat" plan in over 170 countries.
Enterprise SoftwareIoTSaaSCologne, DE
Co-investorsDTCPSoftBank GroupHumans Of The InternetKensington Capital Partners LimitedVicenda Group AG
Cloud Kinetics is a cloud and data transformation managed services partner that helps enterprises migrate to and optimize hybrid and multi-cloud environments using AI and data expertise.
AI & Machine LearningCloud ComputingData & InfrastructureEnterprise SoftwareNot explicitly stated on this page
Co-investorsFIRSTFLOOR CAPITAL
Aggreko provides engineered energy and temperature solutions including temporary power generation, heating, cooling, and compressed air systems for businesses, communities, and facilities.
Advanced ManufacturingCleantechEnergyEnterprise SoftwareHardwareIoTLogistics & Supply Chain
Co-investorsTDR
EnergyMill Valley, US
Bates Marshall(Executive Officer, Director)Chris Hill(Director)
BoardSasha Brown(Director)
Co-investorsAt One VenturesEcosystem Integrity FundFine Structures VenturesRegeneration.VCHelios Climate VenturesSustainable Future Ventures+1 more
CheckSammy provides waste diversion and recycling services with a technology platform that tracks materials from pickup to final destination, connecting businesses to a network of recycling and sustainability facilities.
Circular EconomyCleantechClimate TechEnterprise SoftwareLogistics & Supply ChainVancouver, CA
Sam Scoten(Executive Officer, Director)inFraser Reid(Executive Officer, Director)inRyan Hatch(Director)Tirta Liu(Director)
Co-investorsFirePower CapitalKensington Capital Partners LimitedZero Infinity PartnersPaceZero Capital PartnersTriplePoint Capital
ContractHero is a contract management platform that enables organizations to centrally store, manage, and monitor contracts throughout their lifecycle using AI-powered analysis and automated workflows.
Enterprise SoftwareLegalTechSaaS
Co-investorsBerliner Volksbank VenturesRedstoneTane FundVenista Ventures
Domidep is a French company focused on welcoming and caring for dependent persons, providing care services for vulnerable populations.
Healthtech
Co-investorsAndera PartnersUI Investissement
GridPoint develops building energy management and optimization technology for commercial buildings, aimed at reducing energy consumption, decarbonizing facilities, and supporting grid modernization.
CleantechClimate TechEnergyIoTSaaSArlington, US
Peter Corsell(Founder & Chairman (former CEO))Derek Booth(Chief Executive Officer)inKrupa Amlani(Fractional Chief Financial Officer)Tom Nelson(General Counsel & Senior Vice President)inMark Danzenbaker(Former CEO (2016-2025))inKate Gardella(SVP of Enterprise Growth & Success)
Co-investorsKensington Capital Partners LimitedMarunouchi Innovation PartnersNew Enterprise Associates (NEA)Samos InvestmentsFortress Investment GroupGoldman Sachs+1 more
KODE Labs builds KODE OS, a smart building operating platform that integrates building systems and software to help owners and operators manage and optimize real estate portfolios.
AI & Machine LearningIoTPropTechSaaSDover, US
Etrit Demaj(Executive Officer, Director)inEdmond Demaj(Director)Adrian De Luca(Director)
Co-investorsMaverix Private Equity
Muon Space designs, builds, and operates satellite constellations using its proprietary Halo technology stack, which integrates spacecraft platforms, payload integration, and software-defined orchestration to deliver data and enable real-time computation in space.
Deep TechHardwareSpace TechSilicon Valley, US
Jonny Dyer(Founder)inDaniel McCleese(Executive Officer, Director)Pascal Stang(Founder)inReuben Rohrschneider(Founder)inPaul Day(Founder)inDan McCleese(Founder)
Co-investorsACME CapitalACTIVATE CAPITAL PARTNERSAir Street CapitalCarbonClimacticCongruent Ventures+12 more
Minnesota-based solar developer; first investment of Infrastructure Credit Fund II.
EnergyRochester, US
Cliff Kaehler(Executive Officer, Director, Promoter)inMark Margiotta(Executive Officer, Director)
BoardRalph Kaehler(Director)
Órigo Energia is a Brazilian distributed solar energy company that lets homes, apartments (including rented), businesses, and shops subscribe to solar energy without installing panels, applying credits from its 200+ solar farms to reduce customers' electricity bills.
CleantechClimate TechEnergy
Co-investorsAugment InfrastructureBlue like an Orange Sustainable CapitalMitsui & CoMOV Investimentos
San Francisco, US
Christopher Gooley(Executive Officer, Director)Ujjal Kohli(Executive Officer, Director)
BoardKaran Mehandru(Director)Prakash Ramamurthy(Director)Chuck Dietrich(Director)
Co-investorsElev8.vcKibo VenturesSony Ventures CorporationLuminate
Herndon, US
Paul. Drysch(Executive Officer)inKurt Brendley(Executive Officer)Keith Brendley(Executive Officer, Director)
Co-investorsClean Energy VentureElev8.vcLuminateStargazer Ventures
U.S. solar manufacturing company that received senior secured financing from I Squared Capital for its manufacturing expansion.
Co-investorsSQN Venture Partners, LLC
ThayerMahan develops autonomous maritime surveillance and ocean intelligence systems for undersea and offshore monitoring, serving national security and commercial offshore operations.
Deep TechDefense TechHardwareMystic, US
Michael J Connor(Executive Officer, Director)Richard Hine(Executive Officer, Director)in
BoardMordecai Schaja(Director)John Kao(Director)
Co-investorsAE Industrial PartnersBoeing HorizonX VenturesConnecticut InnovationsRiverPark VenturesHanwha Asset Management
Neenah, US
Lynda Farrell(Chief Financial Officer)inStacey Warning(Vice President of Legal Affairs)inThomas Pamperin(Director)Barb Quasius(Director)Paul T. Verst(Director)Jeffrey Oswald(Director)
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
Absolute EnergyAG&P GasAnza PowerCellaCube Highways TrustCube HydroCubeColdNassau Cruise PortsTIP Trailer Services
Portfolio news
latest coverage across their companies
Aggreko · techtimes.com · Aug 25, 2026
Muon Space · venture5.com · Aug 23, 2026
Fund performance · per public LP disclosures · 11
as of Sep 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| ISQ Global Infrastructure Credit Fund II (Onshore)LPs: Pennsylvania Public School Employees' Retirement System | 2024 | — | — | 0.76x | — |
| ISQ Global Infrastructure Fund IIILPs: Pennsylvania Public School Employees' Retirement System, Employees' Retirement System of Rhode Island, Hawaii Employees' Retirement System +3 more | 2021 | — | 13.5% | 1.24x | 0.01x |
| ISQ Global Infrastructure Fund III (UST), L.P.LPs: Empire State Development – New York Ventures, Connecticut Retirement Plans and Trust Funds, Texas Municipal Retirement System +1 more | 2020 | — | 12.8% | 1.29x | 0.10x |
| ISQ Global Infrastructure Fund IILPs: Hawaii Employees' Retirement System, Sacramento County Employees' Retirement System, Employees' Retirement System of Rhode Island +2 more | 2018 | — | 12.1% | 1.50x | 0.54x |
| ISQ Global Infrastructure Fund II (UST), L.P.LPs: Texas Municipal Retirement System | 2018 | — | 11.7% | 1.76x | 0.86x |
| ISQ Global Infrastructure Fund II (USTE), LPLPs: Empire State Development – New York Ventures | 2018 | — | — | 1.50x | 0.54x |
| ISQ Global Infrastructure Fund II (UST), L.P. (2020)LPs: Connecticut Retirement Plans and Trust Funds | 2017 | — | 13.4% | 1.46x | 0.43x |
| ISQ Global Infrastructure Fund ILPs: Employees' Retirement System of Rhode Island | 2015 | — | 12.9% | 1.52x | 1.05x |
| ISQ Global Infrastructure Fund, L.P.LPs: Employees' Retirement System of Rhode Island, Hawaii Employees' Retirement System | 2015 | — | 15.0% | 1.10x | 0.30x |
| 2017 ISQ Global Infrastructure Fund II (UST), L.P. (2020)LPs: Connecticut Retirement Plans and Trust Funds | — | — | 13.4% | 1.46x | 0.43x |
| ISQ GLOBAL INFRASTRUCTURE CREDIT FUNDLPs: West Yorkshire Pension Fund | — | — | — | 1.14x | 0.48x |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
Frequently asked questions
- How many investments has I Squared Capital made?
- I Squared Capital has 26 tracked investments, including 1 dated in the last 24 months.
- What stage does I Squared Capital invest at?
- I Squared Capital invests at the Growth stage.
- What sectors does I Squared Capital focus on?
- I Squared Capital focuses on Circular Economy, Cleantech, Climate Tech, Data & Infrastructure, Energy, Impact & Social Good, Logistics & Supply Chain, Mobility & Transportation.
- Where is I Squared Capital located?
- I Squared Capital is headquartered in Miami, US.
- Does I Squared Capital lead rounds?
- I Squared Capital has led 4 of the 7 rounds where its role is on record.
- Who does I Squared Capital co-invest with?
- I Squared Capital most often shares deals with Congruent Ventures, New Enterprise Associates (NEA), Radical Ventures, among 16 tracked co-investors.
Media · Podcasts & interviews
featuring the teamI Squared Capital Founder, Chairman, and Managing Partner Sadek Wahba from Semafor World Economy
Semafor · Sadek Wahba
Infrastructure Investing with Gautam Bhandari, I Squared Capital - YouTube
CAIA Association · Gautam Bhandari
Sadek Wahba, I Squared Capital: How to invest in infrastructure
Sadek Wahba · cnbc.com
I Squared Capital Sadek Wahba talks investment ideas to help the earth in crisis - YouTube
CNBC Events · Sadek Wahba
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