Sustainability project-focused private equity firm Spring Lane Capital has hit a $156.5m final close for its inaugural fund.
The firm, which looks to back projects in the energy, food, water and waste industries, also announce a trio of recent partnerships and investments in Atlas Organics, Aries Clean Energy, and Cambrian Innovation.
Spring Lane provides both project finance and growth capital for companies deploying ‘distributed assets’ – using equipment or facilities smaller and less concentrated than traditional project finance can address.
Investors in the debut fund include BDC Capital, Fondaction, Fonds de solidarité FTQ, and Palomino Capital Corporation, among others.
BDC’s vice president for fund investments and global scaling, Alison Nankivell, said, “BDC Capital is pleased to support the growth of the sustainable economy.
“We believe there are often funding gaps for cleantech companies, particularly around growth equity and project finance for small scale environmental projects.”
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