ImpactAlpha’s deal news coverage for the week:
Agrifood investing. Carlyle committed to buying $250 million in future farm loans originated by Minnesota-based FarmOp Capital to facilitate new lending to row-crop farmers… Novastar Ventures and the European Bank for Reconstruction and Development invested in Egyptian online grocer Breadfast’s Series B extension round.
Climate resilience. ClimateWorks Foundation, with the Howden, Laudes, Quadrature Climate and Rockefeller foundations, launched its $50 million Adaptation and Resilience Fund. The first wave of grants will help cities in Africa and Asia build resilience to extreme heat.
Creative economy. Helios Sports and Entertainment secured $50 million from the International Finance Corp. and Proparco to invest in Africa’s growing sports and entertainment sector.
Emergency response. Investments in drones and AI aim to reduce response times in emergencies.
Energy transition. Atlanta-based Wattch raised $6 million in a round led by Spero Ventures for its solar and battery monitoring systems… Lisbon-based Bling Energy landed €15 million ($17.6 million) from Portuguese VC firm BlueCrow Capital to expand its solar energy subscription service to 3,000 residential clients… Off-grid solar provider Sun King closed a $156 million local currency securitized debt package to expand solar access to Kenyan households. Citi, Absa, Stanbic, the Co-operative Bank of Kenya and KCB Bank Kenya invested in the senior tranche, while three European development finance institutions invested in the subordinated mezzanine tranche… Sunly landed $96 million loan to support Latvia’s energy transition.
Green infrastructure. Australian pension fund manager Rest committed A$230 million (US$150 million) to Wollemi Capital, a Sydney-based investment firm focused on decarbonization and infrastructure… The Emerging Africa and Asia Infrastructure Fund secured a $100 million debt facility from Export Finance Australia to ramp up infrastructure financing in Asia.
Good jobs. Raise Robotics raised $7.8 million to help construction companies with workplace safety and labor shortages.
Green mobility. New York state launched a $21.6 million program for community-led clean mobility initiatives, such as e-bikes and scooters, ridesharing and on-demand electric transit services.
Institutional impact. UK-based Octopus Capital secured £118 million ($156 million) for its affordable housing fund. Local government pension scheme Strathclyde Pension Fund committed £50 million. London CIV and Avon LGPS reupped their investments.
Investing in health. LeapFrog Investments exited Kenyan pharmacy chain Goodlife, selling its remaining stake in the company to African drug distributor CFAO Healthcare.
Small businesses. German development finance institution DEG provided a $50 million long-term loan for Tanzanian commercial bank CRBD to support small business lending… IDB Invest backed small business credit in Brazil and Honduras.
Sustainable investing. Nuveen raised another $785 million for sustainable commercial real estate strategy… The UK’s National Employment Savings Trust committed $750 million to BTG Pactual Timberland to invest in sustainable timberland management in the Americas.
Waste to value. Emerald Technology Ventures backed SG Enviro to treat wastewater in Southeast Asia… Rome-based AlterEco Pulp secured €3.5 million ($4 million) in a round led by Eureka Venture SGR to make bamboo, hemp and other plant-based packaging as an alternative to plastic.
