Dealflow | March 29, 2024

The Week’s Dealflow: March 29, 2024

The team at


ImpactAlpha’s deal news coverage for the week:

Agrifood investing. Ireland-based MyGug raised €900,000 to convert food waste into renewable biogas as an alternative energy source to fossil fuels… Mexico’s Savia Ventures made its fifth investment, backing Chile’s Done Properly, a fermentation-based alt-protein producer that uses upcycled food.

Climate finance. New Global Innovation Lab cohort dives into regional climate finance solutions… The African Development Bank approved a $50 million loan for Nigeria’s Yobe State Environmental and Climate Change Action… Germany’s Novocarbo secured €25 million to expand its network of “carbon removal parks”… World Fund raised €300 million venture fund for European climate tech.

Energy transition. Evari raised $7.5 million to build more efficient heat pumps… California-based Evoloh scored $20 million to manufacture electrolyzers for low-cost green hydrogen production… Morgan Stanley’s asset management group is rolling out a $1 billion fund to invest in energy transition infrastructure.

Financial inclusion. Capria Ventures backed fintechs in Nigeria and Bangladesh… Fintech startup Altro) secured $4 million from celebrity backers to help customers with credit building and financial literacy… Indonesia’s Qoala raised $47 million to make insurance more affordable and accessible in Southeast Asia… Nsave secured $4 million to democratize Swiss offshore accounts… Aye Finance snagged €15 million to on-lend to underserved micro enterprises in India… Optimo Loans secured $10 million to offer credit to rural India’s micro businesses… Peru’s Leasy raised $28 million so ride hailing drivers in Peru and Mexico can acquire vehicles. 

Fund news. Bank of America and Visa Foundation backed Impact X Capital’s second fund to invest in diverse-led healthcare, tech and media companies… New York-based 4DX Ventures secured $10.5 million from the International Finance Corp. to provide early stage capital for African startups.

Investing in health. InStride Health raised $30 million for pediatric mental health services.

Low-carbon transition. Singapore-based Fullerton Fund Management raised $75 million for a private equity fund addressing decarbonization in Southeast Asia’s manufacturing, industrial, energy and mobility sectors… The US Department of Energy provided $6 billion in catalytic grants to initiatives to decarbonize heavy industry.