ImpactAlpha’s deal news coverage for the week:
Agrifood investing. Spanish impact fund manager Impact Bridge secured over €130 million ($136 million) in commitments from Spain’s CaixaBank, CDTI Innovación, the European Investment Fund, family offices and other investors for its agrifood-focused private equity fund.
E-mobility. Florida-based Circuit, which offers short-distance electric shuttles in over 40 cities in the US, raised $17 million from climate tech investor MKB, Impact Engine and others.
Energy transition. BlackRock’s Global Infrastructure Partners is looking to buy a renewable energy unit and a solar plant from Brazilian mining giant Vale… British International Investment extended a $15 million trade loan to Nepal’s Sanima Bank, to help the bank finance businesses importing equipment for hydro and solar projects and materials for manufacturing and agri-processing… Canada Growth Fund CGF, Goldman Sachs Alternatives and Canada Pension Plan Investment Board issued a $150 million convertible note to Canadian long duration energy storage provider Hydrostor.
Financial inclusion. Ethiopian bank partnered with Accion and Mastercard to boost innovation in inclusive fintech… Lagos-based Oui Capital scored an $8 million return on a $150,000 investment in Nigerian digital payments provider Moniepoint.
Fund news. Bernstein Private Wealth Management and Impact Engine closed a $40 million impact fund that invests in venture and private equity funds focused on economic opportunity, environmental sustainability and health equity… Cherryrock Capital raised $172 million for growth-stage startups led by underinvested founders… IDB Invest launched a billion-dollar fund to spur private investment in Latin America and the Caribbean.
Green infrastructure. Family office Ceniarth made a $4 million investment in Azure Source Capital to finance water service providers in Central America… Infrastructure financier InfraCo Africa is selling its 25% stake in Malawi-based Golomoti JCM Solar Corp. to Old Mutual Infrastructure Investment Trust Fundi. JCM’s solar plant includes a five-megawatt battery system that provides renewable energy to Malawi’s national grid.
Low-carbon transition. Low-carbon cement producer Terra CO2 raised $82 million in a round led by Just Climate, GenZero and Eagle Materials. The funding will accelerate commercial production in North America and Europe.
Small businesses. A sovereign wealth fund in Malaysia backed ArmourZero’s small business cybersecurity services… UK private equity firm Apis Partners has fully divested its stake in the fintech firm Baobab to Egypt’s Beltone Capital. Baobab, in Paris, provides microloans, solar financing and other digital financial services to small businesses in seven African countries.
