Investment area — Innovation
Financing the infrastructure of the digital economy.
Data centres, automation and research capacity require capital long before they generate returns. We look for businesses where that investment is grounded in real demand.
01Sector thesis
Digital infrastructure and advanced manufacturing are becoming as essential as transport and utilities. The companies that build and operate them often combine asset-heavy investment with technology risk — a profile that traditional lenders can find difficult to assess.
We aim to bridge that gap with financing that recognises both the tangible assets and the contracted or recurring revenues behind them.
02Financing challenges
- 01
High upfront capital expenditure ahead of contracted revenues.
- 02
Rapid technological change affecting asset life and residual values.
- 03
Concentration of customers or suppliers in early growth stages.
03Relevant sub-segments
- Data centres and digital infrastructure
- Industrial automation and robotics
- Semiconductors and electronic components
- Research laboratories and applied AI
Photography is illustrative and does not depict assets financed by Aquila.
04General evaluation criteria
- 01
Evidence of demand: contracts, pipeline or recurring revenue.
- 02
Experienced management with a track record in delivery.
- 03
Assets with identifiable value and clear ownership.
- 04
A capital plan consistent with the pace of growth.
05Risks and due diligence
We examine technology obsolescence, counterparty concentration, energy supply and cost, cybersecurity, intellectual property ownership and permitting. Technical advisers may be engaged where specialist validation is required.
Contact
Discuss an opportunity in Innovation.
We welcome an initial, confidential conversation with companies and advisers active in this sector.