ImpactAlpha’s deal news coverage for the week:
Clean technologies. Aavishkaar Capital and Ecosystem Integrity Fund backed Vecmocon Technologies to make safer EVs… Germany’s Proxima Fusion raised €130 million ($148 million), led by Balderton Capital and Cherry Ventures, to help commercialize its stellarator fusion system. UVC Partners, DeepTech & Climate Fonds, Plural, Lightspeed and others also participated.
Clean water. Bpifrance, Kalys Ventures, Flat6Labs and several European and North African family offices and angels invested $3.5 million in a seed round for Tunisia’s Kumulus Water to roll out its industrial-scale generators that extract water from the air.
Corporate impact. Brazilian oil and gas company Petrobras is raising 500 million reais ($89 million) for a corporate VC fund to invest in renewable energy, decarbonization and other clean tech. Brazilian development bank BNDES and project financing agency Finep invested.
Energy efficiency. Germany’s Co-Power scored €6.4 million ($7.3 million) in a funding round backed by Cherry Ventures, Abacon Capital and Aurum Impact to help European industrial companies lower electricity costs through on-site battery storage and solar… Runwise, which makes software to help building owners manage energy consumption, raised $55 million in Series B financing from Menlo Ventures, MassMutual Ventures, Nuveen Real Estate, Munich Re Ventures and others.
Energy transition. Distributed renewable energy developer Onyx Renewables secured a $260 million credit facility with backing from Apollo’s financing group Atlas SP Partners and Investec… EQT, through its energy transition infrastructure strategy, will acquire a majority stake in French renewable natural gas producer Waga Energy… Exagon Impact Capital, a New York and Bogota-based energy transition investor, took a controlling stake in SunRoof, a commercial and industrial renewable energy provider in Mexico and Chile.
Fund news. Atlanta-based and Black-led Collab Capital raised $75 million for its second fund with backing from Apple, Leon Levine Foundation, California IBank and Goldman Sachs Asset Management. The fund will focus on economic mobility, healthcare access and community infrastructure… 8090 Industries, a New York-based venture capital firm that invests in early-stage industrial decarbonization startups, raised $90 million for its second Industries Decarbonization Fund.
Returns on inclusion. Canadian banks injected C$100 million in Indigenous business ‘ownership through acquisition…’ Enterprise Community Partners issued $100 million note as first US ‘orange bond…’ New York-based Kiwi raised $7.8 million in a round led by LIP Ventures and Advent-Morro Equity Partners to provide credit to unbanked Latino immigrants in the US.
Sustainable economic development. Enko Capital secured a $25 million equity investment from the International Finance Corp. for its maiden impact credit fund, which is seeking $150 million to provide growth capital for businesses driving sustainable development in Africa… Proparco made a €10 million ($11.4 million) equity investment in the Bank of Palestine to help the bank meet its regulatory capital adequacy requirements and support regional expansion and economic recovery.
Sustainable food and ag. Beewise raised $50 million to protect bees – and global food security… Builders Vision led $8 million Series A round for land-based coral farming… Finland’s Tesi, Elo Mutual Pension Insurance Company, the Valio Pension Fund and Finish food producer and investor Heino Group participated in the €40 million ($45.6 million) first close of Nordic Foodtech VC’s fund to invest in early-stage deep tech for the food and agriculture sector… Key Carbon committed €100 million to InSoil for soil carbon credits in Europe… S2G injected $40 million in Sojo Industries to reduce costs and carbon for food and beverages.
Waste to value. Berkeley, Calif.-based Aircapture raised $50 million in Series A financing, led by the Larsen Lam Climate Change Foundation, to recycle carbon using direct air capture… UK-based Impact Recycling secured £3.3 million ($4.5 million) from IW Capital to recycle both flexible and rigid plastic consumer waste.
