Vala Capital has invested in three fast-growth start-ups with sustainable strategies after successfully completing its first funding round for its new Sustainable Growth EIS. The company plans to raise GBP15 million for the sustainable EIS over the next two years and, having raised its target of GBP1.2 million for the first round, is due to embark on a second round of fundraising in September.
ESG & Responsible Investing
Impact technology company Diginex has closed a USD6 million Series A round led by Fitch Ventures, the equity investment arm of Fitch Group, bringing the total amount raised to over USD8 million.
Multi-family investment office Arete has expanded with the launch of Arete Zero Carbon aimed at helping businesses to achieve net zero carbon.
TPG Rise Climate, the climate investing strategy of TPG’s global impact investing platform TPG Rise, has held the first close of USD5.4 billion in subscriptions to its inaugural fund.
Galway Sustainable Capital (GSC) has entered into a new, broad-based funding partnership with funds managed by Oaktree Capital Management, (Oaktree).
Standard Chartered Bank and ICG announce EUR1.45bn ESG-linked subscription facility for ICG Europe Fund VIII
Standard Chartered Bank and Intermediate Capital Group (ICG) have successfully closed an initial EUR1.45 billion ESG-linked subscription facility for ICG Europe Fund VIII. The lending group comprises Standard Chartered Bank, BNP Paribas, ANZ Banking Group Limited, ING Bank, and Royal Bank of Canada.
The majority (62 per cent) of GPs have declined to invest in a company due to ESG or ethical considerations in 2021, according to Investec’s annual GP Trends survey. Last year, this figure stood at 55 per cent, showing the continued and growing importance of ESG to GPs.
General Atlantic, a global growth equity firm, has announced the formation of BeyondNetZero (BnZ), a new venture targeting growth equity investments related to climate change. BnZ is being established in partnership with Lord (John) Browne of Madingley, Senior Advisor to General Atlantic, who will serve as Chairman of the venture. BnZ combines General Atlantic’s significant growth equity expertise, along with a new team of proven climate investors and industry executives, to create a unique capability to identify growth climate investment opportunities.
According to a new survey of 140 global LPs conducted by leading independent global placement agent Capstone Partners (Capstone), European investors continue to lead the way on ESG, demonstrating clear objectives and focus when investing in the private markets. However, ESG conviction is globally high and whilst LPs in North America and Asia Pacific have lagged in the adoption of ESG principles, their responses show that implementation is now accelerating in all regions. One size does not fit all.
Sweden-based investment firm EQT’s infrastructure division has agreed to acquire Covanta Holding Corporation, whose business focuses on sustainable waste processing and advancing transitions to a circular economy in North America.