ImpactAlpha’s deal news coverage for the week:
Agriculture. Brussels-based impact fund Kampani lended €1 million ($1.2 million) in a senior unsecured loan to the Union of Community Mutual Institutions for Savings and Credit in Senegal, to help more farmers acquire equipment to boost their productivity and increase climate resilience… Mercy Corps Ventures invested in Logidoo, a logistics provider for smallholder farmers and small businesses in West Africa.
Clean mobility. Spiro closed a $270 million round after a $55 million top-up from Chinese growth firm NewTrails Capital, to scale e-bike adoption in Africa… Copenhagen-based Kvasir Technologies secured €10 million ($11.4 million) from European Energy, Maersk Growth and Footprint Fund to develop zero-carbon marine fuel… UK-based electric cargo truck maker Superlight clinched $21 million in a Series A round co-led by Engine Ventures and 2150.
Healthcare. Toronto-based June Health raised C$2.4 million (US$1.7 million) in a round led by Toronto-based insurer Securian Canada, to give women faster access to better care.
Indigenous finance. The Red Lake Band of Chippewa Indians invested $2 million of its tribal funds to develop and own a three-megawatt solar project to “reduce our reliance on fossil fuels, support cleaner and more affordable energy, and strengthen our energy resilience,” according to the tribe’s Hunter Boldt. The project is also supported by $9.3 million from the Bureau of Indian Affairs.
Infrastructure. The Private Infrastructure Development Group provided $41 million in catalytic capital to the Infrastructure Resilience Development Fund, a fund managed by BlackRock’s Global Infrastructure Partners that invests in climate-resilient infrastructure in emerging markets.
Renewable energy. Copenhagen Infrastructure Partners is reportedly targeting €16 billion ($18.2 billion) for its newest renewables fund – €4 billion more than its previous fund… D.light, an African provider of pay-as-you-go solar systems and appliances, closed a $50 million green bond structured by African Frontier Capital structured backed by income from customers’ payments… The International Finance Corp. invested $10 million in CrossBoundary Access to expand minigrids and battery infrastructure in Nigeria and Madagascar… Energy-focused impact investor All On invested $1 million in solar cold-chain company Eja-Ice Nigeria to expand refrigeration infrastructure for off-grid communities… The African Development Bank became the first institutional shareholder in the ECOWAS Bank for Investment and Development, committing $30 million in equity and a $70 million credit line for renewable energy financing in West Africa.
Restoration and decarbonization. Danone-backed Livelihoods landed €124 million ($141 million) for its fourth nature-based fund to invest in nature restoration, agroforestry, rural energy projects and farmer livelihoods in Africa, Latin America and Asia… San Francisco-based Pachamama Ventures closed a debut fund to decarbonize materials and industrial processes, energy systems, infrastructure and freight technology…. The Nature Conservancy invested in the Tropical Forest Forever Facility, a blended-finance initiative of the Brazilian government that aims to mobilize $125 billion to protect forestland and support Indigenous communities.
Sustainability-linked. Spanish utility Iberdrola secured a $151 million sustainability-linked loan, denominated in Brazilian reais, from the Japan International Cooperation Agency to expand electricity access in northeastern Brazil… EQT Group set up a $4.4 billion sustainability-linked loan to support green initiatives at portfolio companies in its tenth Asia-focused private equity fund. It’s the firm’s largest such loan in Asia.
