Investors in the fund’s $318.5 million first close include a wide range of institutional investors including European financial institutions, insurance companies, asset managers and family offices. The Paris-based impact buyout fund, which started raising 10 months ago, has a €750 million (about $796 million) target.
Eurazeo will use a “buy-and-build” strategy to scale up small and mid-sized companies addressing critical environmental challenges beyond climate change, such as pollution and biodiversity, and has identified a pipeline of deal flow opportunities in Europe.
“The completion of Eurazeo Planetary Boundaries Fund’s first close is a step forward in our ambition to become the leading European private market asset manager in the mid-market, growth and impact segments,” said Eurazeo’s Sophie Flak. “We are witnessing significant momentum as investors recognize the need and opportunity to scale businesses providing solutions towards the environment.”
Eco-friendly management
In its first deal, the Planetary Boundaries Fund acquired a majority stake in Bioline AgroSciences, a UK-based crop management company that offers growers environmentally friendly bio-based products to manage agricultural pests. The fund backed Bioline alongside Aurae, a French family-owned impact investment fund, as minority shareholder. Bioline operates six bio factories in the US, UK, France, Spain and Kenya that focus on flowers, fruits and vegetables and other high-value crops.
