Since relaunching The Liist database of actively raising impact funds, we’ve received a flurry of new entries. ImpactAlpha LP/GP brings you the latest.
Alante Capital, Triple Impact Capital and Goodwell Investments are all in the market with second funds that bet on impact strategies in climate and economic inclusion, while Ultra Capital is raising its third energy transition fund.
Alante Capital fund II
Alante, a women-led VC firm in Santa Barbara, Calif., invests in materials companies, AI, software and other tech ventures making the fashion, home and textile industries more sustainable.
“We invest in tools to help designers and merchandisers and people at brands to make better decisions on what they should be producing, how it’s produced, and how it’s sold,” Alante’s Karla Mora told ImpactAlpha. The firm, co-founded with fashion designer Eileen Fisher, is targeting $35 million for its second fund, one of four new impact funds appearing on ImpactAlpha’s Liist.
Triple Impact Capital fund II
Triple Impact Capital in San Francisco and Philadelphia went to market with its first fund in 2021 to make seed and pre-seed equity investments in companies with “environmental and/or societal impact embedded into their revenue models.” It has since notched more than 50 deals, including carbon capture startup Capture6, and Juniper, an enterprise software company for behavioral health and physical therapy providers.
Its second fund is looking to raise $50 million to continue with early stage investments in startups focused on health, climate and economic mobility. It reached a first close in December.
uMunthu Fund II
Amsterdam-based Goodwell Investments has for nearly two decades invested in access to essential goods and services in Africa and India. The firm manages five funds through partnerships with local fund managers like Aavishkaar in India and Alitheia Capital in Nigeria. Goodwell and Alitheia are raising their second Africa-focused uMunthu Fund with a target of $150 million to back companies supporting financial inclusion, food and agriculture value chains, and mobility and logistics in Africa. A quarter of the fund is earmarked for other impact sectors, including energy, education and health. Goodwell and Alitheia launched the fund in late 2022, and reached a $57 million first close in 2023 as global fundraising contracted.
Ultra Capital Energy Transition Fund III
The Philadelphia-based firm is in the market with its third energy transition fund. The private equity infrastructure fund invests in companies and assets supporting the development and adoption of cleaner fuels in North America. Its portfolio includes energy management software companies, EV charging providers, solar energy and battery storage developers, and community solar operators.
It also has several investments in power plants and natural gas plants that are being redeveloped with renewables.
Ultra’s Energy Transition Fund III has made five investments. It’s aiming to raise $150 million.
