ImpactAlpha’s deal news coverage for the week:
Acquisitions. EQT’s fourth infrastructure fund will acquire Seven Seas Water Group, which operates water treatment plants in the US, Latin America and the Caribbean, from Morgan Stanley Infrastructure Partners… French private equity investor Ardian acquired a majority stake in MasterGrid, which manufactures high-voltage equipment for retrofitting and maintaining critical electrical infrastructure… Paradigm Infrastructure, through Paradigm Tower Ventures, acquired IHS Rwanda in a $274.5 million deal to invest in shared wireless infrastructure in Africa.
Agrifood investing. Finland’s Volare raised €26 million for insect-based protein and fertilizers… GROWiT landed $3 million to help Indian farmers cut input costs.
Bankruptcies. Canada’s Li-Cycle is the latest battery maker to file for bankruptcy this year, following Sweden’s Northvolt and New York’s iM3NY.
Electric grid. Gridcare, a startup that reduces power waste from the grid, clinched $13.5 million, led by Temasek’s deep tech venture firm, Xora… Montauk Climate spinout Clear Current raised $4 million to manage data in ‘the electron economy’ (exclusive).
Electric vehicles. Candide Group’s Afterglow Climate Justice Fund provided a loan to Brooklyn-based Dollaride to help the commuter service expand its electric van fleet… SparkCharge, a Somerville, Mass.-based EV charging service provider, raised $15.5 million from Monte’s Farm, Collab Capital, Elemental Impact, Cleveland Avenue and others. Horizon Technology Finance Corporation provided a $15 million venture loan facility.
Energy transition. All On is investing $1.3 million to expand the production capability of Salpha Energy, a women-led solar home system manufacturer that focuses on products for Nigeria’s off-grid communities.
Impact bonds. Italy’s Snam, which provides infrastructure for natural gas transportation, raised $2 billion via a sustainability-linked bond issuance to cut emissions and invest in blue hydrogen, carbon capture and biomethane projects.
Impact funds. Fujitsu invested $104 million for its corporate and impact investing strategy… Novastar Ventures’ third Africa People and Planet fund secured a $10 million commitment from Swedfund to invest in climate solutions that serve low-income populations in East and West Africa… Zeal Capital Partners raised $82 million second fund.
Mergers. Natixis Investment Managers is merging two of its affiliates: Mirova, the French asset manager’s €32 billion impact unit, and Thematics Asset Management, which manages €3.1 billion in AI and robotics, water, health and other sectors. The merger is part of a move “to meet the varied needs of investors while adhering to high sustainability standards,” says Natixis… New Summit Investments, a Massachusetts-based investor focused on climate innovation, human health and economic opportunity, will merge with sustainable investment firm Arjuna Capital.
Nature-based solutions. Revenues for Nature backed seven financing models for restoration and conservation.
Small businesses. Brazil’s Blips raised 50 million reais ($8.7 million) to finance, rent and sell business equipment to micro and small business owners working in essential sectors like food and construction.
