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SubscribeCuatrecasas has advised Erco Energía on the closing of a Series C investment round for USD 129 million in equity, granted by Next Utility Ventures—a private equity fund of the Ventures EPM Program managed by Axon Partners Group—as well as by the international funds Augment Infrastructure, Norfund, and Endeavor Catalyst.
The transaction, one of the largest equity rounds completed in Colombia in 2026, represents strong support for the energy transition initiatives that the company is developing in the country, validating its business model and its 14-year track record in the market.
“This transition is of major significance for Colombia’s energy sector, as it demonstrates that our country is attractive for this type of investment, which diversifies its energy mix, creates jobs and stimulates regional economies. We congratulate Erco Energía on this milestone and the investors that joined the round, who will contribute not only capital, but also institutional support and sector expertise,” said Jaime Moya, partner at the Cuatrecasas Corporate and M&A Practice.
The proceeds obtained will be used by Erco Energía to accelerate the development of new energy infrastructure projects in various regions of Colombia, expand the installed generation capacity of its network, and contribute greater security to the country’s energy system. At the same time, as this is an equity round with no recourse to debt, the company will maintain its positive financial profile and future borrowing capacity to continue with its individual projects developed through project finance, preserving a strong balance sheet.
The Cuatrecasas team involved in this advisory service was led by Jaime Moya, together with lawyers Steffany Serebrenik, Nicolás Gaviria, Alejandro Manrique, María Camila Solano, Susana Liévano, and Samuel Silva (Corporate and M&A); and Margarita Llorente (Real Estate).
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