ImpactAlpha’s deal news coverage for the week:
Agrifood investing. S2G invested in Mealogic to provide ‘food as medicine…’ Mumbai-based Saswat Finance, which uses alternative data to underwrite credit for rural entrepreneurs and smallholder farmers, raised $2.6 million in a round led by Ankur Capital… Winich Farms topped up funding to offer ‘produce-collateralized’ loans.
Clean tech. A fund managed by Climate Fund Managers and the Netherlands’ Invest International will invest up to $20 million in a large-scale green ammonia production facility in South Africa… Geothermal darling Fervo snagged $206 million from Breakthrough Energy Catalyst, Mercuria and X-Caliber Rural Capital for construction of a new geothermal power plant in Utah.
Energy transition. Australia’s Allume Energy, which provides shared rooftop solar for residential homes, landed A$10.2 million (US$6.6 million), with backing from electric utility company E.ON’s UK subsidiary… KKR will acquire Zenith Energy, an Australian power producer that specializes in sustainable off-grid power and urban microgrids. KKR’s Asia Pacific Infrastructure Investors II Fund acquired the stake from Pacific Equity Partners, OPSEU Pension Trust and Foresight Group.
Fund news. Sydney-based Climate Tech Partners reached a $50 million first close for its new fund, with $15 million investments each from Australian Ethical Investments and the Clean Energy Finance Corporation.
Good jobs. San Francisco-based WorkWhile scored $23 million from Rethink Impact, Citi Impact Fund, Illumen Capital and other investors to help businesses find reliable hourly workers.
Impact real estate. The Netherlands’ Rabo Investments acquired a minority stake in Area of People to help real estate developers, investors and housing associates integrate social responsibility practices into their operations.
Inclusive lending. JPMorganChase committed $18 million in debt and grant capital to IFF, a Chicago-based community development financial institution, for lending to affordable housing developers in the Midwest… LeapFrog Investments’ second fund has exited Fincare, an Indian microfinance lender that serves rural women running micro businesses.
Investing in health. Ellipsis Health raised $45 million for ’emotionally intelligent’ AI healthcare.
LP/GP. Corporate VCs powered Pano AI’s $44 million raise to improve wildfire detection… Generation acquired a stake in IFS to decarbonize heavy industry… US-based investment firm Hunter Point Capital, through its $3.3 billion GP stakes fund, invested in Equitix, a London-based investor in infrastructure assets.
Waste to value. Orlando, Fla.-based PureCycle Technologies, which converts plastic waste into pure resin for use in the textiles, packaging and automotive industries, raised $300 million from the Duquesne Family Office, Wasserstein Debt Opportunities and others for a recycling plant.
