ImpactAlpha’s deal news coverage for the week:
Carbon markets. Pachama, a carbon credit startup backed by Amazon, Breakthrough Energy Ventures, Lowercarbon Capital and others, is being acquired by carbon management advisor Carbon Direct.
Catalytic capital. Boston Impact Initiative’s First Mover Fund offers ‘first-in’ capital for impact-first fund managers… Renaissance Philanthropy launched Tertiary Impact Capital to provide loan guarantees for philanthropic investments in sustainable infrastructure projects and climate tech… Lightsmith secured $3 million to advance ‘one-stop-shop’ for climate adaptation… Cardano provided a $250,000 grant via its innovation funding platform Project Catalyst to KWARXS, which allows individuals to own fractional stakes in real-world solar projects… EDFI Management Facility is providing a guarantee to support FMO’s $99 million anchor investment in the Green Investments Partnership, a blended finance fund backing green infrastructure projects in South and Southeast Asia.
Climate tech. TerraNova, a Berkely, Calif.-based startup that uses “terraforming” to raise land in flood-prone areas, raised $7 million in a seed round led by Congruent Ventures and Outlander… Forbion raised $234 million for first ‘bioeconomy’ fund.
Food systems. Regenerate Asset Management closed its debut regenerative agriculture fund at €150 million ($162 million), backed entirely by M&G Investments’ Catalyst strategy… Insect farming venture NextProtein raised €18 million ($21 million) in a Series B round co-led by SWEN Capital Partners’ Blue Ocean Fund and British International Investment… Kshema raised $20 million from the Green Climate Fund to provide crop insurance and agrometric advisory services to India’s smallholder farmers.
Low-carbon transition. Lowercarbon Capital is raising a second fusion energy fund, amid growing investor appetite for fusion… Japan’s Nippon Life Insurance invested 53 billion yen ($344 million) in DWS’s European Transition Infrastructure Finance Fund, a debt fund for European infrastructure companies whose emission reduction goals align with the Paris Agreement.
Nature-based solutions. Global Innovation Lab backed new models in Asia, Afrifa and Latin America to close adaptation and nature finance gaps… The Inter-American Development Bank raised $100 million with the issuance of its first Amazonia Bond to support forest management, protect biodiversity and boost livelihoods around the Amazon… Vox Capital raised $50 million to help farmers restore Brazil’s degraded farmland.
Ownership economy. Common Trust helped Arkansas’ Cypress Valley Meat transition to an employee-owned trust.
