ImpactAlpha’s deal news coverage for the week:
Agrifood tech. Growtheum Capital Partners made a $121 million investment in Philippines-based Mets Logistics to expand its network of food cold storage facilities around the country… Supply Change led Celleste Bio’s $4.5 million round to make lab-grown cocoa ingredients.
Climate finance. Elemental Impact backed 16 climate tech startups as it steps up investments… Pittsburgh-based impact funding marketplace Honeycomb Credit acquired Raise Green, a crowdfunding platform for clean energy and placed-based impact projects and businesses.
Energy transition. Apollo acquired a 50% stake in a portfolio of solar and battery assets from TotalEnergies. The assets’ collective energy capacity is about two gigawatts… Goldman Sachs provided a $30 million construction loan to Massachusetts-based Sunwealth to support solar-plus-storage developments in underserved communities in the US…
Next Sense in Amsterdam raised €11.5 million ($12 million) to help building owners monitor and manage their energy consumption… San Francisco-based WeaveGrid raised $28 million in a financing round led by Toyota’s Woven Ventures for its software that helps balance electricity grids with EV charging demands.
Fund news. EQT launched a new private equity fund focused on businesses supporting green infrastructure and the energy transition in North America, Europe and Asia… New York-based Greater Share closed its education fund at $52 million. The vehicle will invest in private equity funds that meet specified ESG criteria and pledge to donate 50% of the associated returns to education-focused NGOs…
Seedstars Africa Ventures secured $42 million from the African Development Bank, EIB Global and other backers to invest in tech startups supporting education, healthcare, utilities and other basic needs in Africa… The European Investment Bank made its largest commitment to an African fund, investing $80 million in private equity firm Pembani Remgro’s second infrastructure fund for renewable energy, digital infrastructure and sustainable transportation.
Good jobs. JFFVentures invested in Besolo, a startup that helps self-employed workers in the US with accounting, tax filings, and healthcare and retirement plans.
Green infrastructure. Backcast Partners made a strategic investment in World Water Works, an Oklahoma City-based company that provides water and wastewater treatment solutions for industrial and municipal clients… Sustainable aviation fuel project in Pakistan snagged $86 million… The Development Bank of Southern Africa invested in Africa50’s Infrastructure Acceleration Fund, a catalytic fund to derisk and finance infrastructure projects in Africa… TPG Rise and Google plugged $800 million into Intersect Power for green data centers.
Inclusive finance. BRAC raised $32 million in impact notes redux… Canadian pension fund co-led $180 million investment for supply chain financing in India… Impaqto Capital provided revenue-based financing for tuGerente in Bolivia… Mission Driven Bank Fund invested in FNBC Bancorp, a community development financial institution that works in underserved communities in Arkansas and Missouri, to expand FNBC’s first time mortgage program and small loan program.
Insuretech. Atlanta-based Sola Insurance snagged $3.7 million in a seed round led by Fintop Capital to provide “reliable and affordable” natural disaster insurance coverage for American homeowners and businesses.
