ImpactAlpha’s deal news coverage for the week:
Agrifood investing. Agriarche raised working capital to connect Nigerian farmers to fair markets… Cargill is acquiring an additional 50% stake in Brazilian biofuels producer SJC Bioenergia, giving the agricultural commodities giant full ownership as it looks to tap into Brazil’s expanding biofuels market… Proparco and Africa-focused private equity firms Amethis and Kibo Capital have exited Merec, a Mozambique-based miller and producer of wheat-based foods. Merec was acquired by Abu Dhabi-based food investor Invictus.
Catalytic capital. Kois and MzN seek to match investors with humanitarian projects to bridge USAID funding gaps… The Russell Family Foundation signed off on $19.3 million in investments to Breckinridge, Terra Alpha and Xponance from its Catalytic Climate Finance facility. It also provided 10 organizations, including As You Sow, Confluence Philanthropy and VC Include, with a collective $275,000 in grants.
Energy transition. Belgium’s Junction Growth Investors’ raise exceeded first fund target to support growth-stage energy transition companies… British International Investment exited Ayana, its renewable energy company in India… San Francisco-based Tyba raised $13.9 million from Energize Capital, Pear VC, Mobilize Climate Capital, Borusan Ventures and other investors for software that helps energy producers with battery storage facilities forecast energy supplies and demands… TPG Rise Climate took solar developer Altus private in $2.2 billion deal… Maryland-based X-Energy raised $700 million from Segra Capital Management, Jane Street, Ares Management, Emerson Collective and others to develop small-scale nuclear plants in the US. The firm also has backing – and a pre-purchase agreement – from Amazon.
Electrify everything. Bangalore-based The Energy Company, which designs and manufactures batteries for electric two and three-wheelers as well as household use, raised $2 million from equity crowdfunding platform 1Crowd and other investors… The European Bank for Reconstruction and Development invested €38.4 million ($39.9 million) in a green bond to ONCF to help the Moroccan rail operator upgrade and electrify its network.
Financial inclusion. Juvo Ventures and Capria Fund co-led a $2.9 million bridge round for Eduvanz, an Indian non-banking financial company that offers collateral-free loans for education, including college degrees and vocational and online courses.
Fund news. New York-based Coatue raised $249 million for its second climate tech fund, according to an SEC filing… O15 Capital Partners raised $370 million to invest in under-resourced companies and communities.
Green infrastructure. The Asian Development Bank provided a guarantee for one billion yuan ($137.2 million) to Hong Kong-based China Water Affairs Group, a publicly-listed water company, to finance sustainable water and wastewater infrastructure projects.
Investing in health. Little Otter snagged $9.5 million to expand access to mental health for children and their families.
Low-carbon buildings. Minnesota-based 75F raised $45 million from Accurant International’s Net Zero Alliance, Climate Investment, Breakthrough Energy Ventures and others. Its sensors and software are designed to help commercial building operators in the US and Asia automate their HVAC systems to improve the energy efficiency of their properties… The International Finance Corp. and Indonesia’s OCBC NISP bank provided a $53 million sustainability-linked loan to real estate developer Nirvana Wastu Pratama to encourage the company to boost green building practices and cut the carbon footprint of its existing portfolio by 42% by 2030.
Low-carbon transition. Cologne-based startup Planted, whose AI-powered ESG platform helps companies with their carbon accounting and decarbonization efforts, raised €5 million ($5.2 million) in seed funding from Smart Infrastructure Ventures, TechVision Fonds and others… Seattle-based Mast Reforestation closed $25 million in Series B financing to develop a biomass-based carbon removal and forest restoration project in Montana.
Return on inclusion. Ulu Ventures, a Latina woman-led venture capital firm, raised $208 million for its fourth fund from the MacArthur, Ford and Marguerite Casey foundations, a California pension fund, Illumen Capital, Pivotal Ventures, Citi Impact Fund, MassMutual and many others. In the face of political backlash, the firm is doubling down on diversity and inclusion as an investment strategy.
Small businesses. Ghana-based Affinity raised $8 million to bank individuals and small businesses… IDB Invest and Corporación Financiera de Desarrollo provided $100 million to BBVA Perú to support lending to women-led micro and small businesses in Peru.
Waste management. Archive raised $30 million to help brands boost profits and cut waste with secondhand sales.
