ImpactAlpha, Apr. 27 – TPG closed its Rise Climate Fund at $7.3 billion. With the final close, the climate fund on TPG’s Rise platform reached its hard cap.
Recent investments include solar tracking company Nextracker, the merger of Bluesource and Element Markets to create a market for carbon credits and Tata Motors to electrify passenger mobility in India.
The climate crisis is accelerating, says TPG’s Jim Coulter. “As technology opens new markets and methods in everything from batteries to biogas and solar to sequestration, we are energized by the decarbonization opportunities ahead.”
More than 500 investors joined the fund, including institutions and corporations. TPG says representatives from 28 of the world’s leading corporations will convene next month at a TPG Rise Climate Coalition meeting to share insights and progress on decarbonization strategies.