Lightrock, a London, UK-based global private equity platform that backs purpose-driven entrepreneurs tackling the world’s biggest challenges, closed its inaugural Lightrock Climate Impact Fund with commitments of €860m.
LPs included LGT and its Private Banking clients, Lightrock co-investments as well as a diverse range of new investors including: AP1; Bay Trust; Carbon Equity; GenZero; Golding Capital Partners; Grantham Foundation; GULF; Haniel; NGS Super; UNIQA; and Wire Group.
The Fund will make investments with a typical initial ticket size of €10-40 million in European and North American growth-stage companies that are innovating towards a net-zero economy and building an operating system for climate action. The Fund may also include a modest allocation to early-stage companies, provided they have clear potential to emerge as leaders within the climate themes it invests across and are showing emerging commercial traction. Four of these themes correspond with the technology mix required to achieve net-zero by 2050 – Energy Transition, Decarbonizing Industries, Sustainable Food & Agriculture and Sustainable Transportation – with an additional cross cutting focus area centred on the underlying Enabling Technologies & Solutions that support decarbonisation across sectors and industries.
Led by Pål Erik Sjåtil, the CEO and Global Managing Partner, Lightrock has already made seven investments in leading companies operating across its investment themes and in accordance with LCIF’s investment strategy. These assets are warehoused for the Fund and serve as a clear demonstration of its aims and ambitions.
FinSMEs
13/10/2022