ImpactAlpha’s deal news coverage for the week:
Agrifood investing. Climax Foods, a Berkeley, Calif, maker of non-dairy cheese, raised $6.5 million in Series A equity from S2G Ventures and rebranded to Bettani Farms… Singapore-based Robust International secured a $25 million investment from Impact Fund Denmark, the country’s development finance institution, to expand local sourcing and processing of sesame and cashew nuts in Burkina Faso, Côte d’Ivoire and Mozambique.
Clean tech. Netherlands-based startup OpusFlow raised €3.8 million ($4.5 million) to automate quotes, scheduling, payments and inventory for installers of heat pumps, solar panels and other clean energy systems… Seattle-based Membrion, a tech spin-out from the University of Washington, raised $20 million for its modular industrial wastewater treatment units that allow companies to treat contaminated water and recover minerals on-site.
Climate finance. Catalyst Fund backed Mali-based OKO to insure farmers against climate risks… Paris-based Keenest raised €10 million ($17 million) to enable everyday investors to back climate startups. A feature of the investment platform is that it pays dividends to its more than 3,500 investor members based on the amount of CO2 emissions its startups curb… Private equity giant Carlyle AlpInvest and the California State Teachers’ Retirement System formed a co-investment partnership for climate opportunities. CalSTRS is also an LP in at least four of Carlyle AlpInvest’s funds… Resolution Investors launched climate-smart public equities fund.
Electric vehicles. EQT Ventures buoyed a $100 million round for Einride, a Swedish provider of electric and autonomous heavy-duty vehicles, charging infrastructure and an intelligent freight operating system. EQT is already one of the firm’s largest backers.
Energy transition. Brookfield reeled in $20 billion for its second Global Transition Fund… Energy Impact Partners raised nearly $1.4 billion for its third energy transition fund… Funds managed by Apollo will acquire Eagle Creek Renewable Energy, an independent owner and operator of 85 hydroelectric facilities in 18 states in the US… San Francisco-based OpenSolar raised $20 million from Titanium Ventures, Google, 2150 Sustainability Fund and other investors for its software that helps home solar installers manage their projects.
Fund news. Bicycle Capital scored commitment from IDB Invest for Latin America growth fund… Ho Chi Minh City-based private equity firm Excelsior Capital Vietnam secured $15 million from Swedfund for its second fund for mid-sized businesses developing infrastructure, promoting financial inclusion and driving job creation… MSquared secured $139 million for its second Equitable Housing Solutions Fund… Theia Ventures raised more than $15 million for its first climate tech fund… Yu Galaxy’s $90 million raise pushed ‘solo-GP’ venture firm over $500 million in assets.
Low-carbon transition. Wavemaker Impact in Singapore invested in Philippines-based Valtor Solutions to help Southeast Asian architects and property developers plan low-carbon designs and source the appropriate materials… Investors from Asia-Pacific backed Vycarb to capture marine carbon.
Mergers and acquisitions. French investment firm Ardian agreed to buy Energia Group, an Irish utility, from US-based infrastructure investor I Squared Capital. The deal is said to value Energia at nearly $3 billion… Minnesota regulators paved the way for BlackRock’s Global Infrastructure Partners and the Canadian Pension Plan to buy Allete, the parent of Minnesota Power.
Small businesses. Estonia’s Katana raised €14 million ($16.4 million) in an extension of its Series B equity round to support small and mid-sized businesses with inventory management… IDB Invest provided $75 million to anchor a sustainable bond from Banistmo in Panama. Banistmo is aiming to raise $100 million to provide credit to support climate resilience for women-led small businesses.
