Mirova, an affiliate of Natixis Investment Managers dedicated to sustainable investing, has launched the Mirova Environment Acceleration Capital fund.
Mirova is pursuing its approach as a responsible impact investor through the new pan-European private equity fund, which aims to invest in companies providing sustainable innovative solutions and technologies contributing to the environmental transition. The fund is aiming to raise EUR300 million from institutional and private investors.
The fund and its team also benefit from the support of the responsible investment research team, which has been analysing the sectors and actors of the environmental transition for almost 10 years.
Mirova already has a reputation as a significant player in unlisted impact financing, through investment strategies in energy transition infrastructure, social and solidarity companies, and natural capital project financing.
The move comes on the eve of the first Anniversary of the formalisation of Mirova’s corporate mission, which aims to demonstrate that asset management companies should aspire to a profound transformation of the economy towards a fairer and more sustainable model.
The fund aims to invest in five main investment themes: smart cities, natural resources, agri-agro technologies, circular economy and clean energy.
The target companies will have the following profile:
• a business model directly addressing at least one of the targeted SDGs;
• mature innovative solutions and technologies;
companies implementing or willing to implement strong ESG[3] standards;
• companies with a proven business model;
• companies which are profitable or almost profitable;
• a transaction in which the majority of the proceeds will be used for a capital increase to accelerate the company’s growth.
The fund is classified as “Article 9” under the new European regulation (Sustainable Finance Disclosure Regulation).
An experienced team of investors within an impact investment platform
Marc Romano, Head of Private Equity Impact, joined Mirova’s team in July 2021 to launch this new strategy, after having worked with the company to define this project. His team will consist of five people with collective experience in all stages of investment, combined with a passion for impact and long-standing involvement in the creation of impact business models.
The team will benefit from Mirova’s impact investment platform which today totals up to EUR2.3 billion in investments in unlisted assets. This platform provides know-how in investing in unlisted high-impact companies and projects, thanks to the mobilisation of numerous resources and expertise in the Energy Transition Infrastructure, Natural Capital, Solidarity and Sustainability Research teams.
Marc Romano, Head of Private Equity Impact at Mirova, says: “I am delighted to have joined Mirova to carry out this new strategy, which is in every way complementary to the company’s expertise. We are convinced that private equity investors have an essential role to play in facilitating the development of impact business models, by providing capital that drives the acceleration of innovative companies and the solutions they offer to environmental challenges.”
Anne-Laurence Roucher, Deputy Chief Executive Officer of Mirova, adds: “Since its creation, Mirova has aimed to facilitate the transition to a sustainable economic model that meets social and environmental challenges through innovative and impactful investment solutions. It was natural for us to add to our expertise a strategy dedicated to private companies.”
The fund has just made its first investment in Ombrea, a company specialising in the management and protection of crops against climatic hazards combined with the production of photovoltaic electricity.
