Dealflow | March 15, 2024

The Week’s Dealflow: March 15, 2024

The team at


ImpactAlpha’s deal news coverage for the week:

Agrifood investing. KAS snagged $3 million for low-cost production of aquaculture ingredient.

Basic services. TowerCo of Africa secured $40 million from backers including the European Investment Bank to expand mobile network coverage in rural Uganda.

Investing in health. Pharma company Eisai backed South African health tech venture RecoMed.

Climate finance. Dutch pension fund manager Stichting Pensioenfonds ABP earmarked €30 billion for impact investing by 2030, including €11 billion for climate and biodiversity investments… Green Climate Fund invested in India’s climate resilience via the Avaana Sustainability Fund… IBM committed $45 million for AI-powered climate resilience solutions.

Economic inclusion. Blue Earth Capital inked sustainability-linked loan for Asia’s garment sector… IFC extended $20 million to Burundian bank to bolster small business lending… Potencia Ventures backed Trampay to bank gig economy workers in Brazil… XSML raised nearly $100 million to invest in African small and mid-sized businesses.

Energy transition. Brazil’s Nextron inked $5.2 million to connect energy users to renewable power on a subscription basis… Konexa snagged $18 million to launch its energy trading system and connect Nigerian Breweries to the grid… Mitsubishi Corporation, Standard Investments, Prelude Ventures and Safar Partners backed geothermal energy producer Quaise Energy’s $21 million equity round.

Excelsior Energy Capital sold a portfolio of 38 solar and solar-plus-storage projects to BlackRock… Leonardo di Caprio invested in Spain-based SolarMente, which offers lease- and subscription-based rooftop solar… MPower Ventures secured a $2 million loan to deliver off-grid solar kits to Zambia’s rural households.

Low-carbon technologies. LA-based direct air capture venture CarbonCapture secured $80 million… Packfleet, an all-electric parcel delivery service in the UK, secured $10 million… UK-based Greenlyte Carbon Technologies raised $11 million for its direct air capture technology.

Returns on inclusion. Colossa Ventures raised one billion rupees to invest in early-stage companies founded by and/or serving women… Nonprofit Finance Fund secured $1.5 million from the Mellon Foundation to document stories from communities of color and low-income and rural communities… Rochdale Capital provided $25,000 in working capital to Pua’s Plate Lunch, a Native Hawaiian-owned business… UK-based Ada Ventures raised $80 million for its second fund for early stage, diverse-led ventures driving climate equity, healthy aging and economic empowerment.