ImpactAlpha’s deal news coverage for the week:
Affordable housing. A group of unnamed New York City pension funds announced a $4 billion contribution to the NYC Housing Investment Initiative, a new affordable housing creation and preservation program overseen by city comptroller Mark Levine.
Agrifood investing. Symbiotics invested $11.8 million to help small farmers in Vietnam boost exports.
Clean tech. Geothermal energy developer Fervo Energy filed to go public. The Houston-based company is backed by Elemental Impact, Breakthrough Energy Ventures, Liberty Mutual Investments and Capricorn Investment Group. Another geothermal developer, Zanskar, raised $40 million in a financing round co-led by Just Climate and Spring Lane Capital… Rivan raised £25 million to make synthetic natural gas from water and sunlight.
Conservation finance. Norway joins Brazil as co-chair of the Tropical Forest Forever Facility, committing up to $3 billion in loans to the rainforest preservation fund launched at COP30.
Development finance. British International Investment invested 7.1 billion rupees ($76.2 million) in Jaipur-based Polaris Smart Metering to install smart meters in the state of West Bengal to track energy usage and improve grid efficiency.
Energy transition. The Africa Finance Corporation invested €43 million ($50.3 million) in the €65 million dual currency Poro Power Green Bond. Proceeds will finance a 66 megawatt solar plant in Côte d’Ivoire… Returning investors powered Lime Rock’s $640 million raise for the energy transition… University of Edinburgh spin-out Exergy3 landed £10 million ($13.3 million) in a seed round from Axeleo Capital, Bayern Kapital, Zero Carbon Capital, Singapore-based Kibo Invest and others. The startup converts excess renewable energy into thermal energy for industrial use.
Fund news. Botswana Tech Fund launched a £50 million ($67 million) venture fund to back technology businesses in Southern Africa. The fund is anchored by Pula Investments, the family office of Stephen Lansdown, who co-founded British financial services firm Hargreaves Lansdown… Johannesburg-based Alt Capital Partners rolled out its second Reimagine Social Impact Retail Fund to invest in retail properties providing access to daily essentials in rural and poor urban communities in South Africa… Women-led Unconventional Ventures secured backing from Investinor, Wire Group and other investors to reach the second close of its second fund for overlooked founders.
Good jobs. Achieve Partners reached a $450 million close of its second workforce fund. The fund backed by Cambridge Associates, JP Morgan Asset Management, Ingka Investments and others invested in FutureFit AI to help young workers navigate the AI economy.
Growth capital. Founders First’s second Change Catalyst Fund secured $12 million first close for underserved small businesses… French development financier Proparco invested $17.3 million in the Alterra Africa Accelerator Fund to back growth-stage businesses across East and Southern Africa.
Investing in health. AI Diagnostics nabbed $5.2 million to improve accuracy in tuberculosis detection.
Small business. IDB Invest raised $28 million for small business lending in Paraguay… Moroccan state-backed financial institution Tamwilcom and the International Finance Corp. launched a $300 million risk-sharing facility, to guarantee lending to small and medium-sized businesses… Turtle Island Community Capital refinanced high-interest loan for Indigenous New York fashion hub.
Waste management. Jambaar Capital, a woman-led venture fund for tech founders in francophone Africa, invested in Nigeria-based Trashcoin, whose digital wallets allow people to earn credit to pay for bills for turning in recyclable waste… Norfund and E Squared Investments backed wastewater treatment in South Africa.
