Blue Earth targets climate investment gap with target-busting debut fund in strategy


Impact investor Blue Earth Capital has beaten its target for its debut climate fundraise by bringing in $378m of investor commitments.

The firm raised $308m for Climate Growth Fund I, which was targeting $300m, and another $70m from LPs in a tailored mandate and co-investments.

Switzerland-headquartered Blue Earth said it will focus on equity investments in companies addressing climate change at the growth stage, between venture and buyout.

Investments will be targeted across energy transition, buildings and mobility, climate intelligence, production and consumption, and food and agriculture.

Kayode Akinola, head of private equity at the firm, said, “The significant investor commitments received for the BlueEarth Climate Strategy demonstrate the essential role of for-profit impact investing in helping to address some of the world’s biggest climate challenges.

“Through this strategy, BlueEarth is addressing opportunities graduating from the venture stage but still too early for traditional buyouts – catalysing climate solutions of the future whilst aiming for attractive, market-rate returns.”

BlueEarth surpassed $1bn in assets under management last year through a $108m close of its latest credit fund.

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