Private debt

Stellared executes unique investment opportunities characterized by a strong downside protection, attractive yield, and the duration of 1–3 years.

The company co-invests alongside professional strategic partners across the UK, US and Continental Europe.

Growth

Our objective is to systematically generate excellent investment returns by focusing on niche transactions that are often overlooked by large institutional capital allocators.

8 projects in total
SaaS platform for Consumer Packaged Goods (CPG) companies (e.g. Danone, Mars) and retailers digitising their in-store merchandising using computer vision.
Computer vision
Seed round
2016
80
Sector
Stage
Founded
Employees
Russia
Dec 2021
Track and trace serialisation technology to help clients meet challenges from counterfeit goods
Logistics tech
Late stage
2002
50
Sector
Stage
Founded
Employees
Norway
Oct 2021
Developer and manufacturer of a unique solid-state battery technology used in Electric Vehicles (EVs) and other applications.
Solid-state bataries
pre-IPO
2006
500
Sector
Stage
Founded
Employees
Taiwan
May 2021
Online healthcare platform connecting doctors with patients.
MedTech
Late stage
2012
1800
Sector
Stage
Founded
Employees
Poland
Sep 2021
Fintech / Bank / Platform exclusively focused on “green” or sustainable financial products for retail as well as corporate customers.
Fintech
pre-IPO
2013
260
Sector
Stage
Founded
Employees
USA
Aug 2021
Cybersecurity startup providing companies with a backup solution for Google Workspace and Microsoft 365, protecting against ransomware, improving compliance.
Cybersecurity
Series A
2016
55
Sector
Stage
Founded
Employees
USA
Jun 2021

SaaS platform for Consumer Packaged Goods (CPG) companies (e.g. Danone, Mars) and retailers digitising their in-store merchandising using computer vision.



Problem: CPG companies use merchandisers to perform retail store audits to check that their products are displayed in stores as agreed (correct pricing, location, etc.) - this process is very manual, time-consuming and inefficient.

Solution: Ailet’s software enables this process to be automated, with merchandisers taking a picture of the relevant shelves, and using computer vision software to perform the required data analysis and results reporting automatically.


Market: The global retail analytics market was worth c.$5bn in 2020, and is expected to grow quickly, reaching $10.8bn by 2024 (CAGR of 21.4%).


Traction: revenue generating and fast growing. Have c.20 customers, with a number of blue-chip clients including Danone, P&G, Nestle, CocaCola, Mars, etc.


Deal source: off-market deal through strategic partners.


Return potential & time horizon: 7x - 10x on capital invested within c.3 years.


Investment rationale / thesis:

  • # 2 player globally, strong traction / revenue growth, defensible product, blue-chip customers and international ambitions with demonstrated results.
  • Fast-growing market with main competitor (Trax) recently raising substantial capital with plans to go public in the next year.
  • Deal dynamics: due to our reputation / good relationship with the existing investors, and ability to move quickly, we were able to acquire the company for a good valuation.

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Track and trace serialisation technology to help clients meet challenges from counterfeit goods.



Problem: detailed and reliable traceability of mass-produced goods (e.g. pharmaceuticals) is difficult to achieve at scale.

Solution: digitisation of each individual product at scale, by generating billions of unique, secure and traceable IDs - information on each product’s lifecycle from manufacturing to sale can be easily and quickly accessed through a cloud-based platform.


Market: the global track and trace solutions market was valued at $2.5 billion in 2020 and is expected to expand to $9.7bn by 2028 (CAGR of 19%).


Traction: revenue generating, with several large customers, including Nestle, Pepsico, P&G, Unilever, Pfizer, etc.


Deal source: off-market deal through a relationship with a family office partner.


Return potential & time horizon: 2.5x - 4.3x on capital invested within c.2 years.


Investment rationale / thesis:

  • Consumer and regulatory push towards product transparency and traceability is driving the growth of this market.
  • Globally recognised & leading player in the space, with a blue-chip customer-base and strong traction.
  • Highly scalable, patented technology combined with an experienced team.
  • Ease of product integration with different hardware providers.

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Developer and manufacturer of a unique solid-state battery technology used in Electric Vehicles (EVs) and other applications.



Problem: the current lithium-ion batteries have a number of downsides, including limited range, long charging times, weight / size and some safety concerns.

Solution: the Solid State Battery (SSB) developed by Prologium has a higher energy density (longer range of c.700km to 1,000km+), smaller size, charges quicker and is easier to recycle.


Market: the EV battery market is projected to grow from US$71bn in 2018 to US$82bn by 2026 (CAGR of 6.6%).


Traction: one pilot production facility operating, with a second one expected to begin production soon. The company is not yet generating any material revenue, as its current focus is on perfecting the battery and solving any remaining technical challenges before mass production begins.


Deal source: off-market deal, opportunity to invest due to existing relationship with a prominent family office.


Return potential & time horizon: 10x - 20x on capital invested within c.7 years.


Investment rationale / thesis:

  • Materially superior battery technology vs currently used in EVs + mass production capabilities at least 5 years ahead of the competition.
  • R&D focused company, holds 236 patents + 173 patent applications.
  • The electric vehicle revolution is here to stay, and the market is expected to continue growing rapidly - battery technologies are a key aspect of this market.
  • Co-investing with some of the worlds most high-profile family offices and investors, with potential for a high return due to timing and the off-market nature of the deal.

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Online healthcare platform connecting doctors with patients.



Problem: patients need an easy and reliable way to find the right doctors / specialists near their location. Doctors want to have an online presence and easy to use patient booking system without building their own website.


Solution: DocPlanner provides doctors with a modern, highly automated booking management platform enabling patients to find local physicians online and book appointments, as well as leave reviews.


Market: the digital segment of the global healthcare market was $106bn in 2019 and the industry is expected to grow at 28.5% CAGR through 2026, reaching a value of $693bn.


Traction: c.100,000 paying doctors using the platform, facilitating c.17 million patient bookings per year. Solid yearly growth in the number of paying profiles (+50%), bookings (+89%), and revenue (+50%).


Deal source: strategic partners.


Return potential & time horizon: 2.3x - 6.7x on capital invested within c.4 years.


Investment rationale / thesis:

  • Product-market fit, strong traction, good team, clear market leader in 6 markets across Europe and Latin America, market is growing - continued room for expansion, recurring revenue SaaS business model + pricing is relatively inelastic (doctors are willing to pay monthly subscription).
  • Competitive advantage through network effects - the more doctors join the platform the more patients will use the website.

Website        Linkedin

Fintech / Bank / Platform exclusively focused on “green” or sustainable financial products for retail as well as corporate customers.



Problem: both retail and corporate customers want to be more socially responsible and contribute towards improving the climate, however existing financial institutions often fall short of those goals.


Solution: financial institution which puts sustainability and the climate at the core of its mission, making customers comfortable that they will “do the right thing” when using Aspiration services.


Market: estimated at $250bn today, and expected to reach $680bn by 2030.


Traction: revenue has increased by 570% in 2021 vs 2020, to $62m in the first 9 months of 2021. Has c.1m active retail clients, and is extensively covered in the media.


Deal source: the Elements team has a relationship with one of the company’s board members, who has introduced the deal to us.


Return potential & time horizon: 1.3x - 9.6x on capital invested within c.1 - 3 years.


Investment rationale / thesis:

  • Strong team / shareholders, clear mission, rapid growth in revenue, robust marketing / promotion ability, large market, right time and place, etc.
  • Operates in the growing fintech and green economy markets - massive push from corporates towards net zero emissions to either meet regulatory requirements or to satisfy their customers.
  • Innovative / highly profitable business model involving working with corporate clients to indirectly offset their CO2 emissions using carbon credits.
  • Focus on retail as well as corporate customers.

Website        Linkedin

Cybersecurity startup providing companies with a backup solution for Google Workspace and Microsoft 365, protecting against ransomware, improving compliance, and reducing IT costs.



Problem: increasing number of ransomware attacks globally, with 73% of attacks being successful and taking on average 16 days for organisations to resume operations in full after an attack.


Solution: software which can stop ransomware attacks as they are occurring using AI technology, automatically restoring any affected files in order to get a company’s system working again within hours and not days.


Market: global cybercrime costs are expected to grow by 15 percent per year over the next five years, reaching $10.5 trillion annually by 2025, up from $3 trillion in 2015.


Traction: 1,400+ customers, revenue generating, good product reviews, product market fit found.


Deal source: investment syndicate targeting US-based startups with backing from well-known VC firms.


Return potential & time horizon: 5x - 10x on capital invested within c.5 years..


Investment rationale / thesis:

  • Innovative / patented ransomware protection technology unique in the market.
  • Ransomware is a big and expensive security threat to businesses, particularly as more and more businesses use cloud-based IT systems.
  • Cost-effective structure of the business, with the software development team based in Ukraine, while head office and customers are in the US.
  • Recurring revenue business model and low customer churn rate.

Website        Linkedin