Cleantech & Climatech

ABC Impact Fund II is the second flagship private equity fund managed by ABC Impact, a Singapore-based investment firm focused on generating measurable social and environmental impact across Asia. Launched in August 2023, the fund achieved a final close in April 2025, raising over USD 600 million—doubling the size of its predecessor. The fund secured commitments from a diverse group of global and regional investors, including Temasek, Temasek Trust, the Asian Development Bank (ADB), Mapletree Investments, SeaTown Holdings, a Southeast Asian sovereign wealth fund, a U.S. family office, and various ultra-high-net-worth individuals. The fund targets four key sectors: clean energy and climate resilience, inclusive finance and digital access, healthcare and education, and sustainable food systems. It provides growth capital to innovative, commercially viable companies that contribute to achieving the United Nations Sustainable Development Goals (SDGs). Representative investments include Aye Finance in India, Tekoma Energy in Japan, and DCDC Kidney Care, a leading dialysis provider serving underserved populations in India. ABC Impact implements a disciplined impact measurement and management framework, aligned with international standards such as the Principles for Responsible Investment and the Operating Principles for Impact Management. With total assets under management exceeding USD 900 million, the firm continues to scale private capital solutions that support a more inclusive and sustainable future for Asia.

The Transformation Fund is the catalytic arm of ALTÉRRA, the UAE's $30 billion climate investment platform launched at COP28 in December 2023. With a $5 billion mandate, the Transformation Fund provides risk-mitigation capital to mobilize private investment into climate-related opportunities in the Global South and emerging markets, targeting regions that are underserved by mainstream climate finance.

Advantage Partners Japan Hydrogen Fund is a thematic infrastructure investment vehicle focused exclusively on the development and scaling of the hydrogen economy in Japan, co-launched in November 2023 by Advantage Partners—one of Japan's longest-established private equity and infrastructure managers—alongside the Japan Hydrogen Association (JH2A) and Sumitomo Mitsui DS Asset Management. The fund targets a final close of $1 billion, having secured capital commitments of approximately $430 million at its second close in December 2024. The fund's mandate encompasses the full hydrogen value chain: production (green, blue, and low-carbon hydrogen via electrolysis and reforming with carbon capture and storage), storage, transportation, and end-use applications across Japan's hard-to-abate industrial sectors including steel, chemicals, shipping, and heavy transport. Japan's national hydrogen strategy and its commitment to achieving carbon neutrality by 2050 provide a strong policy tailwind, with the government pledging JPY 15 trillion in public and private investment over 15 years to establish hydrogen as a cornerstone of its energy transition. Advantage Partners brings to the fund its 30-year track record of mid-market private equity and infrastructure deal execution in Japan, combined with JH2A's network of corporate sponsors and technology partners across the hydrogen sector. Tokyo Century Corporation is among the strategic anchor investors, reinforcing the fund's industrial-partnership-driven investment model. The fund is positioned as a leading institutional vehicle for international investors seeking exposure to Japan's accelerating decarbonization agenda.

Alantra Klima Energy Fund II (Klima2) is a growth-stage energy transition fund managed by Alantra, the Madrid-based international investment bank and alternative asset manager. Classified as an SFDR Article 9 fund—the highest sustainable finance classification under EU regulations—Klima2 deploys equity tickets of €10 million to €30 million into established European businesses with proven technologies and measurable positive environmental outcomes, targeting a portfolio of approximately twelve companies across the continent. The European Investment Fund (EIF) committed €70 million to the vehicle in late 2025, providing significant institutional validation for the fund's strategy. The fund's investment mandate spans five critical pillars of Europe's energy transition: clean energy generation and storage, energy markets and trading platforms, grid and storage infrastructure, energy efficiency technologies, and sustainable transport. Klima2 targets businesses where technological de-risking has already occurred—portfolio candidates have demonstrated product-market fit, recurring revenues and strong growth potential—and where growth capital is needed to scale commercially across European markets. Portfolio companies receive board representation, commercial partner introductions and follow-on capacity throughout the fund's life. Klima2 builds on the strong track record of its predecessor, the original Klima Energy Transition Fund, which raised €210 million and backed growth-stage companies including Dexter Energy (€23 million Series C led by Klima) and marine electrification company Echandia (€19.6 million). Alantra's energy transition platform combines sector expertise with a pan-European deal-sourcing network, aiming to generate both financial returns and verifiable carbon reduction outcomes aligned with the EU's net-zero targets.

Alantra Solar is a solar infrastructure investment platform managed by Alantra, a global alternative asset manager and investment bank headquartered in Madrid, Spain. Launched in January 2023 in partnership with Spanish solar developer Solarig, it operates through the investment vehicle N-Sun Energy S.L. The platform is focused on Southern Europe — primarily Italy (approximately two-thirds of assets) and Spain (approximately one-third) — targeting the 30 GW+ photovoltaic capacity markets in both countries. The fund is structured as a sustainable investment platform compliant with EU Taxonomy Regulation ESG criteria. The fund's strategy involves acquiring, financing, constructing, and managing utility-scale photovoltaic plants developed by Solarig across Italy and Spain. The total platform is sized at EUR 1.7 billion (EUR 700 million equity, EUR 1 billion debt) targeting a portfolio of over 50 solar plants with an aggregate capacity of approximately 1.9 GW. Once fully operational, the portfolio is expected to generate nearly 2.7 GWh of renewable energy annually — equivalent to the consumption of over 800,000 households — and deliver more than EUR 180 million in annual revenues. The fund is led by three managing partners: Javier Mellado (strategy and investor relations), Carmelo Medrano (COO), and Peer Piske (CFO), who together have deployed over EUR 600 million and developed 3+ GW across Europe and the US. As of late 2025, Alantra Solar had secured multiple rounds of project financing. Key milestones include: a January 2023 launch with co-investor commitments of up to EUR 265 million from Reichmuth Infrastructure (Switzerland) and Amundi Energy Transition (France); a February 2024 EUR 50 million equity commitment from Banca March; a December 2024 EUR 213 million debt financing from a syndicate led by Rabobank for seven plants totaling 306 MWp; a November 2025 EUR 355 million project financing from Intesa Sanpaolo for five Italian plants (~275 MW); and a EUR 228 million financing from Mitsubishi UFJ Financial Group for six plants in Spain and Italy. By end of 2024, the portfolio had grown to 23 solar assets with the first plant operational in Zafra (Badajoz, Spain).

The Emerging Market Climate Action Fund (EMCAF) is an innovative blended finance Fund of Funds co-created by Allianz Global Investors (AllianzGI) and the European Investment Bank (EIB), launched in 2022 and endorsed by the G7. AllianzGI acts as the fund's investment manager while the EIB serves as investment advisor, combining private asset management expertise with the EIB's development finance mandate and institutional credibility. EMCAF was established with the explicit mission of mobilizing private institutional capital toward climate mitigation and adaptation projects in emerging and developing markets — a segment of the global economy where the estimated climate finance gap runs into the trillions of euros annually. EMCAF operates as a blended finance vehicle, deploying capital into sub-funds and project-level investments focused on renewable energy, energy efficiency, sustainable transport, forestry, water and wastewater management, and the circular economy across Asia Pacific, Africa, and Latin America. The fund's structure uses junior tranches from development finance institutions and public sector entities — including the Nordic Development Fund, KfW, and the Luxembourg Ministry of the Environment — to de-risk senior tranches offered to commercial institutional investors such as Allianz and Folksam. This blended capital structure enables EMCAF to target returns acceptable to institutional investors while channeling capital toward impact-first projects that would otherwise be unfinanceable on purely commercial terms. EMCAF targets total mobilization of up to EUR 10 billion in aggregate climate finance and aims to catalyze approximately 9 to 10 gigawatts of clean energy capacity across its portfolio sub-funds. The fund received BaFin regulatory approval and operates under EIB Environmental and Social standards, providing institutional investors with a regulated, standards-compliant vehicle for emerging market climate exposure. EMCAF represents one of the largest blended finance initiatives focused on climate action in developing economies, aligned with Paris Agreement climate finance mobilization commitments.

Altor ACT I is the first dedicated green transition fund raised by Altor Equity Partners, the leading Nordic-based private equity firm with over EUR 8 billion in assets under management. The fund closed in September 2024 at its hard cap of EUR 1.1 billion, having been significantly oversubscribed following a rapid fundraise from a high-quality institutional investor base including pension funds, insurance companies, asset managers, sovereign wealth funds, and foundations from the United States, Europe, and Asia. Monument Group served as exclusive placement agent for the fund. ACT I is structured as an SFDR Article 9 fund — the European Union's highest sustainability classification — and deploys capital exclusively into investments that leverage Altor's 20-year expertise in Nordic and DACH mid-market companies with direct green transition themes or that benefit materially from the structural tailwinds of the low-carbon economy transition. Core sectors of focus include industrial technologies enabling decarbonisation, business and environmental services, and companies producing or distributing solutions in renewable energy, energy efficiency, and clean infrastructure. The fund targets mid-market businesses in the EUR 100–500 million enterprise value range across the Nordic region and the DACH economies (Germany, Austria, Switzerland). Altor ACT I draws on the same team and investment process that has built Altor into one of the most respected PE managers in Northern Europe across six flagship funds (Altor Fund I through Fund VI, the latter closing at EUR 3 billion in December 2023). While the ACT I strategy is sustainability-focused, it targets the same highly attractive absolute returns as Altor's flagship funds, investing in proven technologies and market leaders rather than early-stage or speculative green ventures. Both existing Altor Fund VI investors and new institutional investors committed to sustainable PE strategies participated in the ACT I raise, reflecting the fund's appeal across the firm's established LP network.

Altor Equity Partners completed the final close of Altor Fund VI on 19 January 2024, raising EUR 3.0 billion at its hard cap — breaking the firm's own fundraising record set by Fund V. The fund is structured under Swedish AIFMD regulation and classified as an Article 8 fund under SFDR, reflecting Altor's commitment to investing in companies that promote environmental or social characteristics as part of its value-creation approach. At the time of the final close, more than one-third of committed capital had already been deployed across seven portfolio investments, demonstrating exceptional pipeline momentum from the outset of fundraising. Altor Fund VI targets mid-market companies headquartered in the Nordic region — Sweden, Denmark, Finland, and Norway — and the DACH countries (Germany, Austria, Switzerland), consistent with the firm's two-decade investment franchise. The strategy focuses on businesses in business services, consumer products, industrials, and technology sectors, with particular attention to investments aligned with the green transition and environmental sustainability themes. Altor employs a disciplined operational and growth value-creation playbook: the firm's portfolio companies achieved 16% EBITA growth during 2023 and 60% aggregate value growth since the onset of the COVID-19 pandemic, illustrating the efficacy of the approach even through disruption. The fund's realized portfolio track record stands at a gross IRR of 29% and a 3.0x money-on-invested-capital multiple across Altor's prior vehicles. Altor Fund VI has since made additional investments including Imbox Protection in September 2025, continuing the firm's focus on technology-enabled, sustainability-aligned businesses across northern Europe and German-speaking markets. With EUR 3 billion in committed capital, Fund VI represents Altor's largest vehicle to date and positions the firm as one of the pre-eminent Nordic mid-market private equity managers.

The Altree Kadzi Gender Climate Fund (AKGCF) is an impact-focused blended finance vehicle managed by Altree Capital, targeting early- to growth-stage companies in Sub-Saharan Africa that advance gender equality, women's empowerment, and climate adaptation and mitigation. Established by Altree Capital — an investment manager founded in 2006 by Jenni Chamberlain with a long-standing commitment to driving international capital into Africa — the fund represents one of the continent's few vehicles explicitly combining gender-lens investing with a climate-smart mandate across a single portfolio. The AKGCF targets a raise of between USD 50 million and USD 80 million, deploying capital through a mix of equity, debt, mezzanine, convertible notes, and revenue-based financing. This multi-instrument approach is designed to de-risk investments across the capital structure and reach companies too mature for traditional venture capital but too early for conventional private equity. At least 60 percent of the portfolio is directed at businesses addressing climate adaptation and mitigation, while 40 percent focuses on women's health. Every investment must qualify for at least three of the 2X Criteria for gender-lens investing, ensuring a rigorous, measurable approach to gender impact across the portfolio. Key portfolio companies include Wahu! Mobility, an electric vehicle venture operating in Ghana and Togo, and Kasha, an e-commerce platform focused on women's health and personal care. Altree Capital maintains offices in Bermuda, the United Kingdom, South Africa, and Kenya, providing hands-on investor support across the regions where the fund operates. The AKGCF has received backing from the Climate Gender Equity Fund (CGEF) and support from the Visa Africa Women's Investment Fund (AWIF), validating the fund's blended finance approach and commitment to gender and climate impact in emerging markets.

Ambienta SGR, the Milan-based private equity firm dedicated exclusively to environmental sustainability, closed its fourth private equity fund on 20 July 2022 at its EUR 1.55 billion hard cap. The fund reached capacity in less than six months of active marketing and is the largest European private equity fund ever raised with a sole focus on companies enabling positive environmental change. Existing limited partners re-upped at more than 100% of their prior fund commitments, a powerful testament to the firm's track record and to growing institutional appetite for dedicated environmental strategies. The fund's LP base spans approximately 55% from EU member states, 20% from other European countries, and the remainder from North America, South America, and Asia. Ambienta IV targets European mid-market companies — its so-called 'environmental champions' — that derive competitive advantage from the structural megatrends of resource efficiency and pollution control. The fund deploys capital into buyouts across industrials, specialty chemicals, materials, energy transition, and environmental services, applying Ambienta's proprietary Environmental Impact Analysis (EIA) methodology to quantify each portfolio company's contribution to reducing pollution or improving resource efficiency. Ambienta IV is classified as an Article 9 fund under SFDR, the highest sustainable finance classification available under European regulations, reflecting the fund's dual commitment to financial returns and measurable positive environmental impact. Ambienta SGR oversees approximately EUR 2 billion in total assets under management across multiple vehicles, including private equity, small-cap, and public market funds. Fund IV represents the latest chapter in the firm's 20-year history of backing European environmental leaders and builds directly on the investment thesis and portfolio construction approach established in prior funds. The fund is domiciled in Luxembourg and managed by Ambienta SGR S.p.A. under full Italian AIFMD authorisation from Banca d'Italia.

Ambienta SGR, the Milan-based private equity firm dedicated to environmental sustainability, completed the final close of its inaugural small-cap strategy in June 2025, raising EUR 500 million and surpassing its original EUR 450 million target. The Ambienta Small Cap Strategy invests in European small-cap companies that qualify as environmental sustainability champions — businesses with revenues up to EUR 150 million and enterprise values in the EUR 50 million to EUR 100 million range that derive competitive advantage from resource efficiency or pollution control megatrends. The strategy targets eight to ten portfolio companies per vintage, enabling a concentrated, hands-on approach consistent with Ambienta's founder-led investment culture. The strategy represents Ambienta's deliberate return to the smaller end of the market, where the firm made many of its formative investments nearly two decades ago. Many of the businesses that formed the early backbone of Ambienta's investment approach were founder-led, high-quality small-cap industrials and environmental services companies — the same profile the small-cap strategy now explicitly targets. The dedicated investment team is headed by Partner Francesco Lodrini alongside newly appointed Partners Yann Bak and Giacomo Forti, based across Ambienta's Milan and Paris offices. Each portfolio company is assessed and monitored using Ambienta's two proprietary tools: the Environmental Impact Analysis (EIA) framework, which quantifies the company's contribution to reducing environmental externalities, and the ESG in Action programme, which drives operational sustainability improvements throughout the holding period. The Ambienta Small Cap Strategy sits alongside Ambienta IV (EUR 1.55 billion, 2022 vintage) and the firm's public-markets vehicles as part of a multi-product environmental asset management platform. The strong investor demand — exceeding the EUR 450 million target — validates Ambienta's thesis that the small-cap segment offers significant untapped opportunity for sustainability-driven value creation in European private equity.

Amundi ETI Megatrends III is a private equity fund focused on investing in unlisted mid-sized European companies (ETIs) that are aligned with long-term transformative megatrends—namely technology, demographics, and environmental sustainability. The fund follows a thematic strategy designed to capture resilient growth across industries impacted by these structural shifts. The vehicle seeks to invest primarily through growth capital and buyout transactions. It will target both majority and minority stakes, aiming to play an active ownership role by supporting strategic decision-making, governance, and operational transformation. ESG considerations are deeply embedded in the investment process, in line with Amundi’s broader sustainability commitments. The fund plans to build a portfolio of 15 to 20 companies, with a target program size of €600 million. At first close, it raised €285 million—reflecting strong investor appetite and the successful track record of prior vintages. The investment team boasts over a decade of shared experience and strong historical performance, including a DPI of 1.5x for its 2018 vintage and early value creation in the 2021 vintage. Classified as an Article 8 product under SFDR, Amundi ETI Megatrends III also supports European strategic autonomy by focusing its capital deployment predominantly in France (at least 60%) and the broader EU (up to 40%). It prioritizes companies positioned to become future leaders in sustainable and technologically driven markets.

The Apax Global Impact Fund, known as AGI, is Apax Partners' dedicated impact investing vehicle, closed at $877 million in December 2023. Classified as an Article 9 fund under the European Union's Sustainable Finance Disclosure Regulation (SFDR), AGI represents Apax Partners' commitment to investing in mission-driven businesses that deliver measurable environmental or social benefits while generating market-rate private equity returns. The fund pursues growth buyout and minority growth capital investments in companies across four core thematic areas: Health & Wellness, Climate Environment & Resource Efficiency, Social & Economic Mobility, and Digital Impact Enablers. All investment themes are aligned with the United Nations Sustainable Development Goals (UN SDGs). AGI provides equity checks typically ranging from $30 million to $150 million per investment, partnering with companies at the intersection of commercial viability and positive societal impact. The fund employs a proprietary dual-score impact measurement framework — the Impact Threshold Score and Impact Improvement Score — administered by a dedicated 30-person Operational Excellence Practice. A portion of carried interest is directly linked to successful impact performance outcomes, aligning financial incentives with impact delivery. AGI has attracted capital from a diverse global investor base including private and public pension funds, sovereign wealth funds, fund of funds, insurance companies, endowments, and charitable foundations. The fund is managed by three Managing Partners — David Su (New York), Edward Donkor (London), and Juan Pablo Moncayo — and is guided by an Impact Advisory Board comprising Sir Ronald Cohen, Professor George Serafeim, and Laura D. Tyson. Portfolio companies as of 2025 include GAN Integrity, Swing Education, Bonterra, IES, and Foods Connected.

Averrhoa Nature-Based Solutions Fund is an Article 9 impact investment vehicle managed by Ardian, one of Europe's leading private investment houses, in strategic partnership with aDryada, a specialist developer of large-scale nature-based projects. Launched in September 2023, the fund represents a pioneering approach to institutional impact investing through the restoration and conservation of natural ecosystems in emerging and developing economies. The fund is classified under the EU Sustainable Finance Disclosure Regulation (SFDR) as an Article 9 product, meaning it pursues a specific, measurable sustainability objective as its primary investment mandate rather than as a secondary consideration. The fund finances large-scale projects to restore forests, wetlands, and mangroves with the dual objective of sequestering carbon from the atmosphere and generating high-quality carbon credits verified by independent third-party experts. The strategy targets projects collectively expected to sequester approximately 150 million tonnes of carbon, while enhancing biodiversity and delivering socio-economic benefits for local communities. Geographic focus is on emerging markets and developing economies across Latin America, Africa, and Asia Pacific, where nature-based solutions offer the greatest ecological additionality. The fund aims to deploy approximately 1.5 billion euros in projects and capital worldwide, blending institutional capital with development finance institution (DFI) support to achieve both measurable climate impact and financial return for investors. The fund completed its first close at 100 million euros with cornerstone commitments from development finance institutions including the European Investment Bank (EIB), Proparco, and British International Investment (BII), providing early validation of the strategy from leading global DFIs. Ardian's broader natural capital and infrastructure expertise underpins the fund's ability to source, structure, and manage complex nature-based solutions across multiple jurisdictions, positioning Averrhoa as a flagship vehicle for institutional investors seeking exposure to the rapidly growing voluntary carbon market alongside verifiable biodiversity and social impact metrics.

The Canadian Climate and Nature Fund for the Private Sector in Asia (CANPA) is a CAD 360 million government-sponsored impact investment facility established in 2024 through a partnership between the Government of Canada and the Asian Development Bank (ADB). Canada contributes CAD 350 million in project investment capital and CAD 10 million for technical assistance, with ADB administering the fund on Canada's behalf across Asia and the Pacific. CANPA represents Canada's flagship vehicle for mobilising private sector capital in climate-positive and nature-based solutions across developing countries in the Asia-Pacific region, with a particular emphasis on small island developing states and gender equity integration. CANPA targets private-sector projects that would be unlikely to proceed on purely commercial terms, deploying concessional or blended finance to de-risk viable climate and nature investments and catalyse additional institutional capital. Eligible transactions span renewable energy, clean infrastructure, nature-based solutions, sustainable land use, and climate resilience projects. The fund aims to help private sector companies reduce greenhouse gas emissions, transition away from carbon-intensive operations, and build physical climate resilience. A cross-cutting gender equity objective requires CANPA-supported projects to empower women and girls through meaningful participation and economic inclusion in climate transition activities across Asia and the Pacific. CANPA was formally launched and announced in June 2024, succeeding earlier Canadian climate financing vehicles at ADB, including the Canadian Climate Fund for the Private Sector in Asia II. ADB brings its established network of private sector counterparties, co-investors, and development finance institutions across Asia to originate and structure qualifying transactions. Canada's track record through predecessor ADB-managed vehicles includes projects spanning renewable energy, clean transport, and sustainable agriculture, providing a foundation for CANPA's expanded scope to include nature-based and biodiversity finance alongside traditional clean energy and climate infrastructure investment.

Axeleo Capital Green Tech Industry I is the debut climate and industrial technology fund raised by Axeleo Capital, an independent French venture capital manager that has expanded its platform from B2B enterprise software into the green economy. The fund represents Axeleo Capital's strategic entry into deep industrial technology, targeting European startups at the critical transition from laboratory to first commercial factory, addressing the capital gap between research grants and scaled manufacturing investment. The fund focuses on financing the first commercial factories of European industrial startups dedicated to the ecological transition, investing across four impact-driven verticals: energy technologies including novel renewable energy sources and storage systems; chemistry and advanced materials including biomaterials and plastics recycling; agriculture and food systems including bio-based fertilizers, pesticides, and food innovation; and sustainable mobility including electric motor technologies and decarbonization of air and sea transportation. Axeleo targets 15 to 20 investments across Europe with lead ticket sizes ranging from EUR 3 million to EUR 10 million, focusing on founders with proprietary technology and a credible path to scaled industrial production. Axeleo Capital Green Tech Industry I announced a first close at EUR 125 million in November 2024 against a total target of EUR 250 million. Anchor commitments came from the Révolution Environnementale et Solidaire fund (Crédit Mutuel Alliance Fédérale), Bpifrance via the Fonds National de Venture Industriel as part of France's Plan France 2030 industrial policy, and the Veolia environmental services group. The fund is actively fundraising toward its EUR 250 million target, making it one of the largest dedicated industrial climate tech vehicles raised in France.

Axeleo Green Tech Industry I (GTI I) is a venture capital fund dedicated to backing industrial deep-tech startups at the forefront of Europe's ecological transition. Managed by Paris-based Axeleo Capital, the fund reached a first close of €125 million in November 2024, against a target of €250 million, and has been awarded the Tibi label — France's national recognition for funds backing technology innovation — in acknowledgment of its contribution to a sustainable European industrial ecosystem. GTI I focuses on post-research-and-development companies preparing to launch their first production facilities and initial commercialization phases. The fund targets four core sectors of the green economy: Energy, including renewable energy production and storage systems; Chemicals and Materials, covering biomaterials and plastics recycling; Agriculture and Food, addressing bio-based fertilizers, pesticides, and food innovation; and Mobility, supporting electric motors and the decarbonization of aviation and maritime transport. The fund plans to make 15 to 20 lead investments across Europe, with ticket sizes ranging from €3 million to €10 million per company. The initial LP base includes Bpifrance, Veolia Group, and Crédit Mutuel as anchor institutional and industrial partners, complemented by Axeleo Capital's network of strategic investors aligned with the green transition. The first portfolio company announced was Sweetch Energy, a French pioneer in osmotic renewable energy generation. GTI I represents Axeleo Capital's largest fund to date and builds on the firm's established track record as a specialist backer of deep-tech and industrial innovation startups in France and across Europe.

Axeleo Greentech Industry fund is a venture capital fund managed by Axeleo Capital, an independent Paris-based investment firm specializing in industrial and enterprise technology. The fund is part of Axeleo Capital's GreenTech Industry (GTI) series and is consistent with the firm's flagship GreenTech Industry I (GTI I) vehicle, which achieved a first closing of €125 million in November 2024 toward a final target of €250 million. Classified as Article 9 under the EU Sustainable Finance Disclosure Regulation (SFDR), the fund was conceived as Europe's first industrial startup factory dedicated to the ecological transition, combining financial returns with measurable environmental impact. Axeleo Capital, founded in 2017 and managing nearly €300 million in total assets under management across its fund family, developed the GTI series to position itself as one of Europe's principal investors in industrial innovation for the green transformation. The fund focuses on four core sectors aligned with the decarbonization of European industry: energy, including renewable energy and storage technologies; chemicals and materials, including biomaterials and plastics recycling; agriculture and food, including bio-based fertilizers and pesticides; and mobility, including electric motors and decarbonization of air and maritime transport. With lead investment tickets ranging from €3 million to €10 million and a target portfolio of 15 to 20 companies, the fund targets early-to-mid-stage European startups at the critical commercialization stage of establishing their first industrial facilities. The investment philosophy requires portfolio companies to be eligible for the EU Taxonomy or to contribute to relevant United Nations Sustainable Development Goals. The fund's anchor institutional investors include Bpifrance, Veolia Group with a €30 million commitment, and Crédit Mutuel Alliance Fédérale, alongside backing from the Révolution Environnementale et Solidaire fund and the Fonds National de Venture Industriel (FNVI). The management team includes partners Eric Burdier, Marc Lechantre, Guillaume Sarlat, and Mathieu Viallard, with Sandra Dubos serving as Investment Director. An early portfolio company includes Sweetch Energy, a developer of osmotic energy technology based on salinity differences between fresh and salt water.

The Climate Tech Fund is a venture capital initiative managed by BDC Capital, the investment arm of the Business Development Bank of Canada (BDC), a federal Crown corporation wholly owned by the Government of Canada. The fund was established to address the chronic shortage of late-stage risk capital for the commercialization and scale-up of Canadian climate technology companies, representing a core commitment of the federal government's strategy to build a globally competitive cleantech sector and accelerate Canada's transition to a low-carbon economy. With 500 million Canadian dollars in committed capital, the Climate Tech Fund became one of the largest dedicated cleantech venture vehicles in Canada at the time of its launch. The fund deploys capital into hard technology companies with capital-intensive business models, defensible proprietary intellectual property, and demonstrated market traction. Key investment themes include energy decarbonization, sustainable mobility, the built environment, industrial and resource efficiency, and carbon management. The fund targets companies at the late-stage seed to growth stage of development, requiring validated product-market fit and a clear path to commercial scale and profitability within a defined timeline. BDC Capital's investment model functions as a catalytic public capital instrument: for each dollar of BDC investment deployed from Climate Tech Fund I, the fund unlocked approximately 12 Canadian dollars in co-investment from private sector partners, demonstrating strong institutional demand for Canadian cleantech growth capital. The Climate Tech Fund has built a diversified portfolio of climate technology companies including alterBiota, Ayrton Energy, CabriCrete, Carbon Upcycling, CarbonRun, CO280, Cyclic Materials, Deep Sky, DeNova, Exterra, Freshr Technologies, and Future Fields, spanning clean energy, advanced materials, carbon capture, and sustainable agriculture. The pan-Canadian investment team is led by Managing Partner Shirley Speakman. Following strong portfolio performance, BDC Capital launched a Climate Tech Fund II in November 2022 at 400 million Canadian dollars with a heightened focus on capital-intensive deep decarbonization technologies, bringing BDC's total committed investment in the cleantech sector to 1 billion Canadian dollars.

BONVENTURE IV is the fourth impact venture capital fund managed by BonVenture Management GmbH, a Munich-based investor recognized as the first investment company in the German-speaking region to focus exclusively on the social and ecological impact of companies. Founded in 2003, BonVenture pioneered impact-first venture capital in Central Europe, building a track record across three predecessor funds before launching BONVENTURE IV to institutional and private investors committed to generating measurable social and environmental return alongside financial performance. The firm has over 20 years of dedicated impact investing experience in Germany and the German-speaking market. BONVENTURE IV invests in early and growth-stage companies with social or ecological business models, requiring each portfolio company to make a measurable, verifiable contribution to solving systemic social or environmental problems. The fund pursues dual returns of impact and financial performance, rejecting the traditional narrative of a trade-off between impact depth and investment return. Target sectors include social care and childcare solutions, sustainable energy and building technology, environmental services, digital health, and e-mobility infrastructure. Geographic focus is on the German-speaking region of Central Europe, including Germany, Austria, and Switzerland, with selective investments across broader Western Europe where the impact thesis is compelling. BONVENTURE IV surpassed its fundraising target range of 35 to 40 million euros, closing at 50 million euros from a combined base of institutional and private investors. Early portfolio investments from the fund include Sira Kinderbetreuung, an innovative childcare technology company addressing Germany's childcare infrastructure gap; Comgy, a technology provider for building energy management supporting the decarbonization of the real estate sector; and Chargex, a player in EV charging infrastructure. BonVenture's four successive impact funds since 2003 represent one of the longest dedicated impact venture capital track records in the German-speaking market.

The BSocial Impact Fund II is a closed‑end venture capital vehicle managed by Ship2B Ventures, dedicated to investing in early‑stage companies that generate measurable social and environmental impact while pursuing market‑rate financial returns. The fund builds on the team’s track record in impact investing and seeks startup entrepreneurs whose business models are explicitly designed to address systemic challenges such as vulnerable populations, decarbonisation and ecosystem regeneration.The fund focuses on companies with high growth potential across Spain (and potentially beyond) that combine innovation and scalability with strong impact intention. Ship2B Ventures employs rigorous impact‑measurement frameworks (including defined KPIs and Theory of Change) ensuring that investments are not only financially viable but also aligned with measurable positive outcomes for people and planet.Investment opportunities are selected in sectors where technology, disruptive business models and purpose converge — for example healthtech, care for ageing or vulnerable groups, climate tech, circular economy and digital solutions for inclusion. The fund aims to partner with entrepreneurial teams that are committed, experienced and ready to scale. By using blended‑finance mechanisms (including support instruments, first‑loss protection tranches, and technical assistance) the model seeks to mobilise more private capital into impact‑oriented ventures.Through its strategy of “triple return” (financial, social and environmental), the fund aspires to demonstrate that purpose‑driven investment can achieve commercial success while contributing to systemic change. By doing so, it aims to play a key role in strengthening the Spanish impact ecosystem, bridging the gap between venture capital and the goals of social inclusion, climate mitigation and sustainable development.

Bain Capital Double Impact is an impact-focused private equity fund managed by Bain Capital, one of the world's leading private investment firms with over $180 billion in assets under management. Launched in 2017 with a final close at $390 million—well above its original $250 million target—the fund represents Bain Capital's strategic commitment to generating both competitive financial returns and measurable social and environmental outcomes for a select group of institutional investors, family offices, and endowments. The fund pursues a growth equity and buyout approach focused on scaling mission-driven companies across three core impact themes: Health & Wellness, Education & Workforce Development, and Climate & Sustainability. With typical equity investments ranging from $10 million to $40 million per company, Bain Capital Double Impact targets businesses with proven operating models and demonstrated positive impact, leveraging the operational playbooks and global network of Bain Capital's broader platform to accelerate growth. The fund typically underwrites 12 to 15 platform investments per vehicle. Since its inaugural close in July 2017, Bain Capital Double Impact has built a portfolio of mission-aligned companies spanning fitness, environmental services, education, and workforce development. Fund I's strong performance catalyzed subsequent vintages: Fund II closed at $800 million (2020) and Fund III at $1.46 billion, reflecting growing institutional demand for impact investing within a top-tier buyout framework. The fund is anchored by pension funds, family offices, and endowments, several of which made their first explicit impact investment through this vehicle.

Blackhorn Ventures Industrial Impact Fund II, LP (IIF II) is a $150 million venture capital impact fund managed by Blackhorn Ventures, an investment firm founded in 2017 by entrepreneurs, operators, and investors. The fund achieved its final close on June 27, 2024, with a 2022 vintage year reflecting the initial deployment period. IIF II attracted a distinguished group of limited partners including Mitsubishi Electric, Mercuria Energy, Goldbeck GmbH, Simpson Strong-Tie, Jonathan Rose Companies, the Grantham Foundation for the Protection of the Environment, and Caprock, alongside other institutional investors who share a conviction that the industrial energy transition represents one of the defining investment opportunities of this decade. IIF II deploys capital at the Seed and Series A stages into capital-efficient software solutions, vertical SaaS platforms, and AI-enabled applications addressing resource efficiency and decarbonization across hard-to-abate industrial sectors. Blackhorn's 'bits and atoms' investment thesis targets the intersection of digital intelligence and physical-world processes across four interconnected verticals: energy, construction and the built environment, supply chain and logistics, and transportation. The fund prioritizes founders at the forefront of industrial AI — particularly those commercializing scalable solutions to critical labor shortages, operational inefficiency, and the carbon intensity of industries that together represent trillions in U.S. and global GDP. Investment geography is primarily the United States, with selective exposure to European opportunities meeting the same industrial thesis criteria. IIF II has deployed into over 20 portfolio companies, including Formic (industrial robotics software), Circuit Mind (electronics manufacturing automation), ThinkLabs, Specifix, EcoWorks, Optera, and Electric Era. As documented in Blackhorn's 2024 Annual Impact Report, portfolio companies deliver measurable outcomes across greenhouse gas reduction, labor productivity gains, and operational cost savings. The fund's impact mandate is structurally enforced: carried interest is linked to demonstrated environmental and social outcomes, aligning GP incentives with the fund's stated mission of industrial decarbonization. Managed from the United States and structured as a Delaware limited partnership, Blackhorn Ventures Industrial Impact Fund II is the second in the firm's flagship fund series and represents the fullest expression of the firm's Industry 4.0 investment philosophy combining digitization and decarbonization.

Blume Equity Fund I SCSp is a European climate-tech growth equity fund managed by Blume Equity, a female-led investment firm structured as a Société en Commandite Spéciale (SCSp) under Luxembourg law. The fund is targeting a final close of €200 million and has been recognized as a finalist for the European VC Newcomer of the Year award, reflecting its differentiated positioning in the European impact investing landscape. Blume Equity's founding partners bring more than 40 years of combined investment and sustainability experience from blue-chip financial institutions and climate-focused organizations. Blume Equity Fund I focuses on growth-stage companies developing solutions that drive meaningful, measurable sustainability outcomes for both the planet and society. The fund makes €10 million to €40 million investments in climate-tech businesses at the Series B stage and later, targeting companies that have demonstrated commercial traction and are ready to scale across European markets. Key investment themes include renewable energy technology, industrial decarbonization, circular economy, sustainable mobility, and resource efficiency. The fund is supported by institutional investors including ABN AMRO as a notable LP, reflecting the growing appetite among European banks for climate impact strategies at scale. Blume Equity Fund I has been selected for Access to EU Finance, the European Commission's initiative supporting innovative SMEs and mid-caps, and is classified as an impact-focused fund eligible for EU impact assessment. The fund's positioning at the Series B stage bridges the gap between early climate-tech risk capital and later-stage infrastructure finance, targeting a segment where growth capital scarcity has historically constrained climate solution deployment. Luxembourg's SCSp structure provides the regulatory framework for pan-European LP participation while maintaining flexible governance aligned with impact measurement requirements.

Fonds National d'Amorçage 2 (FNA 2) is a €500 million government-backed fund-of-funds managed by Bpifrance, France's public investment bank. Created under the Programme d'Investissements d'Avenir (PIA) through a convention between the French State and Bpifrance signed on 28 December 2017, FNA 2 is the second generation of France's national seeding fund initiative, one of the largest government-sponsored seed VC fund-of-funds in continental Europe. The fund was initially capitalized with €250 million, with a further €250 million committed in a second tranche planned for 2020. FNA 2 invests in professionally managed seed venture capital funds that themselves back early-stage, high-growth technology companies in France. Eligible investee funds must prioritize French and European non-listed companies in strategic technological sectors including biotechnology and life sciences, digital technologies such as artificial intelligence, big data, cybersecurity, and fintech, as well as ecotechnologies. By 30 June 2020, FNA 2 had committed €93.3 million across five seed funds: Agrinnovation, PSL Innovation Fund, Frst 2, Technocom 3, and Pertinence Invest 2, serving as a cornerstone LP for emerging French fund managers seeking institutional validation. FNA 2 builds on the first Fonds National d'Amorçage, which established France's model for public seed fund catalysis. A third generation, FNA 3, endowed with €400 million under France 2030, has since been launched by Bpifrance and the Secrétariat Général pour l'Investissement, underscoring the program's sustained importance to France's innovation economy. Bpifrance manages the fund through its Fonds Propres division's fund-of-funds activity.

Bpifrance Large Venture is a EUR 2.5 billion growth and late-stage venture capital fund managed by Bpifrance, France's state-backed public investment bank and the country's primary innovation financing institution. Established in 2014, Large Venture is one of the largest dedicated technology and life sciences growth funds in continental Europe, providing long-term patient capital to highly innovative companies — both publicly listed and unlisted — with validated business models operating at significant scale. The fund acts as an active shareholder with a long-term investment horizon, supporting companies that are ready to expand internationally or accelerate their competitive positioning across high-potential markets. Large Venture focuses exclusively on technology and life sciences sectors in France, participating in financing rounds above EUR 20 million with an initial ticket size of at least EUR 10 million. The fund co-invests as lead or follower alongside other leading European and international growth equity investors, covering a broad spectrum of sub-sectors including enterprise software, artificial intelligence, cybersecurity, fintech, healthtech, foodtech, greentech, and digital health. Investment decisions emphasize companies with demonstrated revenue traction, a clear path to market leadership, and the potential to reach Next40 or French Tech 120 designation. With a generalist approach across technology and life sciences, the fund is positioned to support France's most competitive scale-ups throughout their late-stage growth journey. Since its 2014 founding, Large Venture has built a portfolio of over 80 companies, including 12 members of the Next40 and 25 members of the French Tech 120. Notable portfolio companies include Doctolib (digital health), Contentsquare (digital analytics), Exotec (robotics and logistics automation), Owkin (AI for healthcare), Shift Technology (AI for insurance), Electra (EV charging), ManoMano (B2B construction), Swile (employee benefits), and Aqemia (AI drug design). The fund plays a catalytic role in France's technology ecosystem, co-investing with major international growth equity and crossover investors, while providing the stability and scale required by late-stage innovators preparing for IPO or strategic exits.

CDP Venture Capital – Corporate Partners I is an Italian corporate venture capital fund managed by CDP Venture Capital SGR, the venture capital platform of Cassa Depositi e Prestiti (CDP), Italy's national development finance institution. The fund closed with €300 million under management and became operative in September 2021, making it one of Italy's largest dedicated corporate venture capital vehicles and the first fund of its kind to structure corporate limited partners as active innovation partners rather than passive investors. Corporate Partners I operates as a multi-sector CVC fund organized across four thematic verticals: EnergyTech (energy transition solutions), IndustryTech (manufacturing, IoT, and robotics), ServiceTech (financial and insurance digitalization), and InfraTech (drones, IoT, artificial intelligence, and innovative materials). The fund invests in post-seed Italian and international startups that have validated their solutions and are ready to scale, deploying tickets of up to €7 million per round through Series B. Corporate LP partners—including Adler, Marcegaglia, and Camozzi—co-invest and provide market access, pilot projects, and commercial routes for portfolio companies, aligning industrial incumbents with deep-tech startups around shared technology agendas. Corporate Partners I leverages CDP Venture Capital SGR's position as Italy's leading venture capital manager, drawing on the national institution's network, data infrastructure, and mandate to strengthen Italy's innovation ecosystem. The fund is designed to catalyze cross-sector synergies between its corporate LPs and a curated portfolio of scaling startups, creating a flywheel of industrial demand, pilot revenues, and follow-on capital that complements CDP's broader Italian innovation agenda across subsequent fund generations.

The Co-Investment Fund (Fondo de Coinversión, FOCO) is a €2 billion public co-investment vehicle managed by COFIDES, Spain's state-owned development finance institution. Established under Spain's Recovery, Transformation and Resilience Plan (PRTR), FOCO mobilizes foreign and domestic private capital into strategic sectors of the Spanish economy as part of the country's green and digital economic transition. The fund operates as a permanent revolving instrument, reinvesting returns into new operations with indefinite duration, and is structured so that external co-investors must contribute at least the same amount as FOCO's own commitment in each operation, ensuring genuine private capital leverage. FOCO deploys between €10 million and €150 million per investment, either through direct equity stakes in companies or indirect investments via private equity and infrastructure funds. The fund always takes a minority position, with its participation never exceeding 49% of total capital in any single operation. Target sectors include renewable energy production, energy efficiency and decarbonization, electric mobility, digital transformation of businesses, sustainable infrastructure, biotechnology, and sustainable agriculture. All eligible investee entities must be registered in the European Union with operational presence in Spain, aligning FOCO's mandate with domestic economic development goals. FOCO made its first investment commitments in December 2024, approving €220 million across three operations managed by Azora Gestión, Eurazeo, and Hy24. Subsequent investments include an €80 million commitment to Cathay Innovation Fund III, a global innovation-focused fund, and a €90 million co-investment in Proeduca, the leading Spanish-language online higher education platform. COFIDES also deployed FOCO capital into Eysa, a sustainable urban mobility company, as co-investor alongside Tikehau Capital. With COFIDES managing over €3 billion in aggregate financial instruments including FIEX, FONPYME, and the Social Impact Fund, FOCO benefits from an experienced team with deep relationships across European private markets and access to a broad pipeline of co-investment opportunities aligned with Spain's strategic industrial and sustainability objectives.

Cactus Partners Fund I is the debut venture capital fund of Cactus Venture Partners (CVP), a Mumbai-based investor focused on early-stage companies in India. The fund reached final close in February 2024 with a corpus of approximately Rs 630 crore (approximately $75 million), following an initial closing in August 2022 that raised roughly Rs 350 crore ($44 million). Cactus Venture Partners positions itself as a long-term institutional partner for founders building transformative businesses across India's fastest-growing technology sectors. The fund targets Series A and early Series B investments, with a primary sector focus on climate technology, healthcare technology, and B2B SaaS. This thesis reflects CVP's conviction that India's next wave of breakout companies will emerge at the intersection of deep technology and India-specific market needs—whether in sustainable agriculture, digital health infrastructure, or enterprise software built natively for emerging-market conditions. The fund's investor base reflects broad conviction in this thesis: approximately 60% of capital committed by domestic limited partners—including SIDBI (Small Industries Development Bank of India), the Self-Reliant India Fund (SRI Fund), and the UP Startup Fund—with the remaining 40% from international LPs predominantly from the United States, Singapore, the European Union, and the United Kingdom, as well as domestic family offices and ultra-high-net-worth individuals (UHNIs). Cactus Partners Fund I marked Cactus Venture Partners' entry as an institutionalized early-stage investor in the Indian venture ecosystem. The successful two-stage fundraise—completed in a challenging global venture market—validated the fund's sector thesis and its ability to attract a diversified domestic and international LP base. The fund's portfolio spans climate technology, health technology, and B2B enterprise solutions, setting the foundation for CVP's continued growth as a trusted capital partner for Indian founders at the inflection point between product-market fit and full-scale growth.

Canapi Ventures Fund II is a $750 million venture capital fund managed by Canapi Ventures, a Washington, D.C.-based investor focused exclusively on the financial services technology sector. Launched in 2022 and reaching final close in December 2023, Fund II brought Canapi's total assets under management to over $1.4 billion, backed by nearly 70 U.S. financial institutions and strategic investors across the country. The fund targets early- and growth-stage fintech companies operating at the intersection of financial infrastructure, banking technology, lending and credit platforms, payments, cybersecurity, climate technology applied to financial services, artificial intelligence, and real estate technology. Canapi Ventures distinguishes itself by assembling a limited partner base of active financial institutions—banks, insurance companies, and specialty lenders—that serve as strategic commercial partners for portfolio companies, providing distribution, regulatory insight, and real-world validation that generalist venture capital firms cannot replicate. This investor network gives Canapi portfolio companies a meaningful commercial advantage at a critical point in their growth, translating capital into customers and partnerships simultaneously. Building on Fund I's portfolio of category-defining fintech companies, Canapi Ventures Fund II has made early investments in companies including DynamoFL, Island, and Crux Climate, reflecting its thesis around regulated-industry infrastructure, enterprise browser security, and climate-aligned financial services. Fund II represents one of the largest fintech-focused venture funds raised in 2023, cementing Canapi's position as the institutional-grade bridge between incumbent financial services and emerging fintech innovation in the United States and beyond.

Cantos Ventures III is a 0 million early-stage venture capital fund managed by Cantos Ventures, a San Francisco-based firm founded by Ian Rountree. The fund closed in September 2022 and targets pre-seed and seed stage investments in what Cantos calls "near-frontier technology" — science-forward companies applying proven advances to solve critical global challenges. Cantos Ventures has built a reputation for backing technically ambitious founders from the earliest stages of company formation, operating at the intersection of deep science, critical infrastructure, and commercial viability. This is the firm's third fund, following two earlier vintages that delivered strong returns. Cantos Ventures III deploys capital across four primary verticals: climate technology and sustainable infrastructure, TechBio (synthetic biology, therapeutics, and biomanufacturing), aerospace and defense, and next-generation computing including quantum and biocomputing systems. The fund deliberately focuses on areas where technical risk is high but market risk is structurally low — companies whose success depends on solving hard engineering and science problems rather than predicting market adoption. By partnering with founders from pre-seed, Cantos aims to back category-defining businesses building platform technologies or full-stack solutions that could generate 0 to 00 billion in enterprise value. The strategy seeks to minimize market risk by targeting companies making essential commodities cheaper, reducing carbon emissions, advancing healthcare, or improving democratic security capabilities. Cantos Ventures III has made six investments since its September 2022 close, including The Lumber Manufactory (May 2024), applying advanced manufacturing to sustainable materials. Earlier Cantos funds have backed a portfolio of more than 50 companies spanning climate, life sciences, defense, aerospace, and materials science. The manager's thesis of backing founders working at the frontier of science and engineering has proven well-timed as institutional and government capital increasingly focuses on domestic manufacturing resilience, clean energy transition, and next-generation defense technology. Cantos Ventures has raised three consecutive funds, demonstrating repeatable fundraising success in a highly competitive early-stage landscape.

Climate Tech Portfolio Fund III is a fund-of-funds vehicle managed by Carbon Equity B.V., an Amsterdam, Netherlands-based alternative investment fund manager licensed and supervised by the Authority for the Financial Markets (Autoriteit Financiële Markten, registration number 15005329). The fund provides accredited and institutional investors with curated access to a diversified portfolio of leading climate technology venture capital and private equity funds, creating exposure to over 150 breakthrough climate technology companies across early and growth stages in North America and Europe. As the third vintage in Carbon Equity's flagship Climate Tech Portfolio Fund series, the fund builds on prior vintage learnings to refine GP selection criteria and co-investment sourcing across the climate technology ecosystem. Carbon Equity's fund-of-funds approach aggregates capital across a carefully selected portfolio of top-tier climate-focused fund managers, enabling investors to gain diversified exposure to climate innovation across clean energy, sustainable industry, food and agriculture, transportation, buildings, and carbon management. The two-sleeve structure combines primary fund commitments with high-conviction co-investments alongside portfolio GPs, balancing broad diversification with targeted exposure to standout companies. Geographic allocation focuses on North America and Europe, capturing the deep pools of climate technology innovation across Silicon Valley, Boston, New York, London, Amsterdam, and other major innovation centers. The fund provides institutional-grade climate access at minimum commitment levels accessible to sophisticated private investors, a key differentiating feature relative to direct fund manager subscriptions that typically require commitments of $1 million or more. Carbon Equity has established itself as a leading European gateway to climate technology private markets, operating a regulated AIFM structure in the Netherlands that provides strong investor governance protections consistent with European fund law. The firm's Climate Tech Portfolio Fund series has enabled European and international investors to access premier US- and Europe-based climate VC managers who might otherwise require multi-million-dollar minimum commitments. Fund III represents a closed vintage that completed its investment period, providing investors with a realized track record foundation upon which Carbon Equity has continued to refine its GP selection methodology. The subsequent launch of Climate Tech Portfolio Fund IV reflects the demand for this access-oriented climate FoF strategy among institutional and sophisticated individual investors.

Climate Tech Portfolio Fund IV is the latest flagship fund-of-funds vehicle managed by Carbon Equity B.V., a Dutch-regulated alternative investment fund manager (AIFM) supervised by the Authority for the Financial Markets in Amsterdam, Netherlands (AFM registration 15005329). The fund targets a diversified portfolio of six to eight leading climate technology venture capital and private equity funds, combined with eight to twelve direct co-investments, providing investors with exposure to over 150 breakthrough climate technology companies across North America and Europe. With a next close scheduled for June 30, 2026, the fund is actively accepting commitments from accredited investors at a minimum ticket size of €100,000, making institutional-quality climate fund-of-funds access available at a significantly lower entry point than direct LP subscriptions to the underlying managers. Fund IV deploys capital according to a two-sleeve structure: approximately 80% of invested capital flows to carefully selected top-tier climate technology fund managers, while the remaining 20% is allocated to high-conviction co-investments offering direct company exposure alongside portfolio fund GPs. Geographic allocation targets North America at 60% and Europe at 40%, capturing the innovation depth of Silicon Valley, Boston, London, Amsterdam, and emerging European climate hubs. Sector allocation is diversified across energy (25%), industry (25%), food and land use (15%), transportation (15%), buildings (15%), and carbon management (5%), with investment stage emphasis on early growth companies at Series B and beyond (approximately 60% of portfolio) where commercial traction and scaling potential are most pronounced. The fund targets a net internal rate of return of 12–15% and a long-term investment horizon consistent with the development timelines of breakthrough climate technology companies. Carbon Equity has established a track record as a leading European gateway to climate technology private markets, operating under the regulatory oversight of the Dutch AFM. The firm's Climate Tech Portfolio Fund series has enabled European and international investors to access premier US- and Europe-based climate VC managers who typically require multi-million-dollar minimum commitments. Fund IV builds on the learnings of predecessor vintages, incorporating refined GP selection criteria and an expanded co-investment program. The fund's regulated AIFM structure provides investor protections consistent with European fund governance standards, and Carbon Equity's growing institutional LP base reflects increasing institutional appetite for curated, diversified access to the climate technology opportunity.

CarbonCount Holdings 1 LLC (CCH1) is a sustainable infrastructure investment platform established as a joint venture between KKR, a leading global investment firm, and Hannon Armstrong Sustainable Infrastructure Capital (HASI), a specialist clean energy investor and publicly listed REIT. The platform commits up to $2 billion in aggregate — $1 billion each from KKR and HASI — to invest in climate-positive clean energy and sustainable infrastructure assets across the United States. HASI serves as the primary investment manager, deal sourcer, and operational steward of the portfolio, while KKR provides co-investment capital and balance-sheet capacity. CCH1 deploys capital across sustainable infrastructure asset classes consistent with HASI's established investment strategy, including behind-the-meter energy systems, grid-connected renewable energy installations, renewable natural gas infrastructure, and sustainable transportation projects. The platform employs HASI's proprietary CarbonCount scoring methodology to measure avoided carbon dioxide equivalent (CO2e) emissions for each investment, providing investors with a transparent, standardized climate impact metric alongside financial returns. To expand its financing capacity, CCH1 issued $592 million in senior unsecured notes through a private offering, reflecting institutional demand for high-quality sustainable infrastructure debt. The KKR-HASI partnership represents a convergence of institutional private equity expertise and deep sector specialization in the U.S. clean energy transition. HASI, the platform's primary investment manager, manages a portfolio of more than $13 billion in climate-positive assets and has deployed capital across solar, wind, energy efficiency, and climate resilience projects for over two decades. CCH1 is an early example of the scaled bilateral platforms increasingly used by institutional investors to access the growing pipeline of U.S. sustainable infrastructure opportunities without the constraints of traditional commingled fund structures.

Cibus Carbon is a natural capital fund managed by Cibus Capital LLP, a London-based private equity platform founded in 2007 by Rob Appleby that focuses exclusively on sustainable food and agriculture investments. The fund is operated through a dedicated Australian subsidiary, Cibus Carbon Investments Pty Ltd, led by Damon Petrie (Consultant Investment Director), Jeremy Alun-Jones (COO), Simon Campbell (Consultant CEO), and Grant Tranter (Consultant Chief Scientist). Cibus Capital has raised over USD 1 billion across its fund platform — which includes Cibus Fund (mid-market PE and real asset farming), Cibus Enterprise (agri-food tech venture capital), and Cibus Carbon — and won two awards at the 2024 ESG Investing Awards, including ESG Investment Fund of the Year. Cibus Carbon targets institutional investors and seeks to raise between A$200 million and A$300 million (approximately USD 132–198 million), with a target of A$70–100 million by end of 2025 and up to A$300 million by end of 2026. The fund's strategy is to plant mixed native tree species on carefully selected low-cost Australian land parcels identified through proprietary geospatial and agronomic models that maximise carbon yield relative to acquisition cost. Over a 30-year investment horizon, the fund aims to deliver approximately 11.25 million Australian Carbon Credit Units (ACCUs), targeting corporate buyers subject to Australia's Safeguard Mechanism. Net ACCU demand is projected to nearly triple from 15 million units in 2025 to 44 million by 2030, a market Cibus expects to become the world's largest carbon credit system by end of the decade. The fund leverages Cibus's ownership of Withcott Seedlings, one of Australia's largest native tree nurseries, providing operational advantage in seedling procurement and project execution at scale. The fund was launched and publicly announced in September 2025 as Cibus Capital's dedicated natural capital vehicle for the Australian carbon market.

Cibus Enterprise Fund II is a $135 million late-stage venture capital fund advised by Cibus Capital, a London-based specialist investment manager focused on sustainable food and agriculture. The fund completed its final close on March 4, 2024, raising $135 million in capital commitments from institutional investors, and forms part of Cibus Capital's combined $645 million dual-fund fundraise alongside Cibus Fund II. Cibus Enterprise Fund II had already completed ten portfolio investments by the time of its final close, demonstrating strong early deployment velocity and a robust pipeline of late-stage agrifood innovation companies. The fund invests in late-stage venture and growth-stage technology companies developing transformative innovations across the global food and agriculture value chain. Cibus Enterprise Fund II targets breakthrough technologies in robotics and automation for agricultural applications, precision chemistry for crop protection, natural capital management systems, and other technology solutions that improve resource efficiency and sustainability throughout food production and processing. The fund leverages Cibus Capital's deep operational network across the food and agriculture industry to identify companies with clear commercial pathways and to provide strategic support beyond capital — connecting investee companies with potential customers, partners, and operators within the Cibus portfolio ecosystem. Cibus Enterprise Fund II builds on the original Cibus Enterprise Fund and benefits from Cibus Capital's integrated investment platform, which simultaneously manages mid-market PE investments in established food businesses through Cibus Fund II and late-stage venture investments in agrifood technology through Enterprise Fund II. This dual-strategy approach creates meaningful synergies: technology companies in Enterprise Fund II gain access to Cibus's portfolio of food and agriculture operators as potential early adopters and commercial partners, while PE investments in Fund II gain proprietary access to emerging technologies. The combined platform positions Cibus Capital as one of the few specialist managers with end-to-end coverage of the sustainable agrifood investment opportunity.

Climactic is a seed-stage venture capital firm co-founded by Josh Felser and Raj Kapoor, with offices in San Francisco and New York City. Felser previously co-founded Spinner.com and Crackle, and established Freestyle Capital; Kapoor co-founded Snapfish (acquired by HP), served as a partner at Mayfield Fund where he was the first VC investor in Lyft, and later served as Lyft's Chief Strategy Officer. Paul Hawken, author of 'Drawdown' and 'Regeneration', serves as Strategic Partner, and Van Jones serves as Strategic Advisor. Climatic I is the firm's inaugural fund, closing at $65 million in December 2023. The fund deploys $1.5–3 million per seed-stage investment, targeting 20–25 portfolio companies over its lifetime, with approximately half the capital reserved for follow-on investments. The investment thesis centers on software-first climate tech companies decarbonizing enterprise operations and the mobility sector, targeting Physical AI, Energy Tech, and Waste-to-Value startups with near-term commercial pathways rather than long-horizon R&D bets. Climactic co-founded Climate Draft to help migrate technology talent into climate-focused companies, and actively syndicates deals with domain-specialist climate investors. Nine of the firm's eleven prior angel investments were rolled into the fund at inception, providing an immediate portfolio base at close. Notable early portfolio companies include WeaveGrid (EV and renewable energy integration), MuonSpace (Earth observation satellites), NCX (forest carbon), SINAI Technologies (emissions management), and Lightship (electric RVs). The LP roster includes individual investors Reid Hoffman, Chris Sacca, Ev Williams, Mike Schroepfer, Chris Larsen, Mark Pincus, Logan Green, John Zimmer, and Alison Pincus, alongside institutional investors StepStone, HG Ventures, Brown Advisory, MIO Partners, Knollwood, NfX, and Mayfield.

Copenhagen Infrastructure Growth Markets Fund II (CI GMF II, SCSp) is a Luxembourg-domiciled infrastructure fund managed by Copenhagen Infrastructure Partners (CIP), the world's leading dedicated fund manager for greenfield renewable energy investments. Launched at COP28 in Dubai on December 4, 2023, CI GMF II targets USD 3 billion in commitments and succeeds CI Growth Markets Fund I, which reached a final close of USD 1 billion in November 2019. CIP was founded in Copenhagen in 2012 and manages approximately EUR 26 billion across 12 infrastructure funds for more than 150 institutional investors, employing around 400 professionals across 12 global offices. CI GMF II deploys equity in large-scale, complex greenfield energy infrastructure projects across 15 selected high-growth, middle-income markets in Asia, Latin America, and EMEA — including India, Vietnam, the Philippines, Mexico, and South Africa. The fund targets five technology types: offshore wind, onshore wind, solar PV, utility-scale battery storage, and Power-to-X. Each investment requires meaningful European supply chain and industrial participation, positioning CI GMF II at the intersection of institutional infrastructure investment and the EU's Global Gateway development-finance initiative. In June 2024, the European Investment Bank committed USD 100 million (EUR 93 million) to the fund, recognising its alignment with EU development objectives and bilateral clean-energy partnerships in the target geographies. CIP's predecessor fund, Growth Markets Fund I, deployed a build-and-exit strategy that produced projects including a 1.7 GW solar-hybrid complex in India (Unicus) and renewable assets in South Africa (Mulilo), demonstrating the manager's ability to originate, develop, and exit large-scale clean energy infrastructure in emerging markets. CI GMF II's project pipeline already represents more than USD 5 billion in potential committed capital, significantly exceeding the fund's USD 3 billion target and reflecting the depth of the development pipeline CIP has cultivated across Asia, Latin America, and Africa over its first decade. CIP's broader platform has since grown to manage approximately EUR 37 billion across 15 funds as of 2025, giving CI GMF II access to the same construction oversight, O&M capabilities, and institutional LP relationships deployed across the manager's flagship Northern European and North American funds.

DCVC Climate Select is a venture capital fund targeting climate startups at the mid-stages of development. The fund is located in Palo Alto, California. The fund is focused on climate technologies and applications in AI, tech bio, and robotics, where it sees opportunities for investment in underfunded areas. The fund is managed by the well-established Silicon Valley VC firm DCVC, which has invested $360 million from other funds into climate startups over the last decade. DCVC Climate Select initially aimed to raise $500 million, but this target has since been lowered to $400 million due to challenging market conditions.

DCVC VI is a $681 million venture capital fund managed by DCVC, a leading deep technology investment firm co-founded by Matt Ocko and Zachary Bogue and headquartered in San Francisco, California. Closed in 2022, the fund is the sixth in DCVC's series of flagship deep tech funds and continues the firm's exclusive focus on backing early-stage companies that apply cutting-edge computation, artificial intelligence, and engineering breakthroughs to major challenges in the physical world. DCVC VI follows DCVC V ($725 million, 2019) and forms part of a fund family that has deployed over $2 billion in flagship capital alone. The fund pursues early-stage and growth-stage investments in companies leveraging AI, advanced semiconductors, autonomous systems, computational biology, and simulation to disrupt large incumbent industries. DCVC VI's investment thesis spans agriculture, industrial manufacturing, energy, space, healthcare, defense, and advanced materials — sectors where computational approaches create durable structural advantages. Unlike generalist VC funds, DCVC requires deep technical diligence conducted by partners with domain expertise across hard-science disciplines, allowing the firm to back companies that most investors are ill-equipped to evaluate. Portfolio companies from this vintage include Mythic (application-specific AI inference chips), San Francisco Compute, and AlphaGeo (geospatial intelligence). DCVC manages approximately $4 billion in total capital across its flagship, life sciences (DCVC Bio), and climate technology (DCVC Climate) strategies, deploying capital at the intersection of advanced computation and physical industries. The firm's model — investing early when computational approaches first become viable for a given industry — has remained consistent across all fund vintages since its founding and has produced a portfolio spanning semiconductors, defense technology, agricultural robotics, computational biology, and enterprise software for hard industries.

The Decarbonization Partners Fund I focuses on investing in late-stage venture capital and growth private equity for next-generation companies that support the acceleration of decarbonization and the transition to a net-zero economy. The fund has attracted a diverse set of over 30 institutional investors representing 18 countries, including public and private pension funds, sovereign wealth funds, insurance companies, and corporates and family offices across North America, Europe, and Asia Pacific. The diversity and depth of the investor base reflect the global nature of the opportunity around climate investing, directly aligning with Decarbonization Partners’ global focus. The Fund’s target investments include companies that drive intentional, material, and measurable decarbonization outcomes. It invests in companies with de-risked technologies that are ready to scale and can benefit from BlackRock and Temasek’s complementary platforms and deep access. The Fund’s investments span several innovative decarbonization technologies, including sustainable materials, clean hydrogen, science-based carbon management services, low-emissions battery recycling, EV fleet management, and thermal energy storage for industrial applications. The partnership aims to invest in companies that provide solutions and technologies to help accelerate global efforts to achieve a net-zero global economy by 2050. The sectors targeted for investment include Carbon Capture, Storage and Utilization, Bio and Low Carbon Products, Next Generation Energy, Advanced Mobility, Carbon Management Services, and Digital Transformation. The team has built a robust pipeline of proprietary deal flow and intends to continue executing on this in the coming months. The Decarbonization Partners team, which has grown to over 25 members, includes experienced venture capital and growth equity investment and portfolio management professionals across offices in New York, San Francisco, Singapore, London, Paris, and Houston. The team was intentionally constructed to provide portfolio companies with trusted value-add partners who bring significant technical and operational experience to the table.

The Caribbean Basin Sustainable Energy Fund (CABEF) is an impact-focused fund managed by Deetken Impact, a Canadian investment manager headquartered in Vancouver, BC. Launched with a 2017 vintage, the fund is part of Deetken Impact's broader platform of five impact investment funds concentrated across Latin America and the Caribbean. Deetken Impact operates as a specialized firm with approximately USD 100 million in managed impact assets, led by a team of managing partners with expertise in renewable energy development, investment banking, and social enterprise across the Americas. The firm is a signatory to the Operating Principles for Impact Management since 2020. CABEF invests in grid-connected and off-grid renewable energy and energy efficiency projects and companies across the Caribbean Basin, encompassing solar PV, hydroelectric, wind, biomass, biogas, and energy storage assets. The fund employs flexible mezzanine instruments tailored to the needs of small and medium-sized enterprises that typically lack access to conventional equity and quasi-equity financing. It operates alongside the Honduras Renewable Energy Financing Facility (H-REFF), with combined target capitalization of USD 100 million and committed capital of approximately USD 63 million. A gender lens investing approach is embedded in the fund's mandate. CABEF has achieved recognition as a best-in-class climate finance vehicle, winning the Best Climate Finance Program award at the 2023 CREF Industry Awards. Key institutional backers include IDB Lab (the innovation laboratory of the Inter-American Development Bank Group) as lead investor, with development support from USAID. Deetken Impact has built a track record of over 61 investments across 17 countries through its fund platform, establishing it as a leading specialized impact manager for sustainable energy in underserved Caribbean and Central American markets.

EDFI ElectriFI (Electrification Financing Initiative) is a specialist blended finance facility established to unlock, accelerate, and leverage private sector investment in affordable and reliable clean energy access across sub-Saharan Africa and other emerging markets. With a total facility size of approximately €253 million, ElectriFI is managed by EDFI Management Company, a subsidiary of the Association of European Development Finance Institutions (EDFI), under implementation mandate from FMO, the Dutch entrepreneurial development bank. Launched in 2018, the facility is funded by the European Union, Power Africa, Sweden, and Italy, and operates with a higher risk tolerance than traditional investors to reach underserved markets and business models. ElectriFI deploys equity, quasi-equity, senior debt, junior debt, and mezzanine financing in ticket sizes of €0.5 million to €10 million into clean energy companies operating across emerging markets. Target business models include solar home systems, minigrids, independent power producers, captive solar for commercial and industrial customers, hydropower, clean cooking solutions, e-mobility, and biomass energy applications. The facility employs first-loss capital and subordinated structures to de-risk co-investments and catalyse additional private sector participation, achieving a leverage ratio of approximately 4.2x on the catalytic capital deployed. Country-specific windows focus on Zambia, Nigeria, Côte d'Ivoire, Benin, Kenya, Burundi, Eswatini, Uganda, and Mozambique. Since its inception, EDFI ElectriFI has deployed over €292 million in mandates across more than 70 projects in 37 countries, catalysing €414 million in total investment activity, with approximately 75% of the portfolio concentrated in sub-Saharan Africa. The facility has documented multiple successful exits and serves as a model for blended finance in frontier energy markets, demonstrating that additionality and commercial viability can coexist through carefully structured risk-sharing mechanisms. ElectriFI is one of the most active development finance instruments for energy access in lower-income countries.

EIC Fund is the equity investment arm of the European Innovation Council (EIC), established in 2020 by the European Commission under the Horizon Europe research and innovation programme. Wholly owned by the European Union and operating with the investment advice of the European Investment Bank, the EIC Fund is one of Europe's largest public deep-tech venture investors, capitalised with over €4 billion to bridge the gap between public research grants and private venture capital for Europe's most innovative startups and scaleups. The fund's investment strategy targets high-risk, high-impact deep-tech innovators across all technology verticals — including semiconductor innovation, synthetic biology, quantum computing, advanced materials, space technology, digital health, and climate technology — at stages from seed to growth. Individual investments range from €0.5 million to €30 million, with the highest allocations reserved for EIC STEP Scale-up participants. The EIC Fund always co-invests on a matching (1:1) basis with qualified private sector lead investors, with portfolio companies raising an average of 3.5 euros in private co-investment for every euro committed by the EIC Fund. Since its establishment in 2020, the EIC Fund has completed more than 150 investment rounds, including over 60 in 2024 alone, and has collectively mobilised over €1.6 billion in private co-investment alongside its portfolio companies. The fund co-invests under the EIC Accelerator programme, which provides grants of up to €2.5 million alongside the equity component. The EIC Fund covers all EU member states and Horizon Europe associated countries, with a geographic priority on venture ecosystems that historically receive less private capital relative to their scientific output, making it a structurally important source of deep-tech deal flow for private co-investors across Europe.

EIP Flagship Fund III is the latest core investment vehicle from Energy Impact Partners (EIP), a global investment firm focused on the clean energy transition. Launched in 2023, this $1.36 billion fund builds on EIP’s collaborative model, bringing together more than 75 strategic limited partners from the energy, utility, industrial, and financial sectors. The fund is designed to accelerate innovation and real-world deployment of transformative technologies across the global energy landscape. This third Flagship Fund represents nearly a 40% increase over its predecessor, giving EIP significantly more capital to deploy during a pivotal moment in the energy industry. With surging power demand driven by AI infrastructure, data centers, and electrification, energy systems must evolve to deliver greater reliability, affordability, and resilience. Fund III focuses on commercially validated technologies that can scale — particularly in energy production, storage, distribution, and intelligent grid management. The fund’s investment strategy is tailored for complexity, with flexibility to adapt across regional and regulatory contexts while targeting growth and mid-market opportunities. EIP emphasizes companies that have achieved product-market fit, possess robust technology, and demonstrate clear scalability. By combining sector-specific diligence with a deep network of corporate partners, EIP supports companies that can materially accelerate decarbonization and infrastructure modernization. EIP Flagship Fund III is not just capital—it’s a platform. The firm fosters deep collaboration between its LPs, portfolio founders, and industry operators to ensure that innovation scales beyond the lab. Backed by sovereign wealth funds, insurers, mission-aligned family offices, and global corporates, the fund seeks to deliver both impact and returns by enabling the next generation of energy systems globally.

EQT Foundation Fund is the dedicated impact investment vehicle of EQT Foundation, the philanthropic entity established as a long-term shareholder and strategic sponsor of EQT Group, one of Europe's largest alternative investment organizations. The fund launched investment activity in 2021 and operates as an evergreen vehicle — with no fixed fund term — providing catalytic, patient equity capital to early-stage companies developing breakthrough scientific and technological solutions to systemic challenges in climate and nature, health and wellbeing, and equality of opportunity. The EQT Foundation Fund is managed by EQT Foundation, headquartered in Stockholm, Sweden, and draws on the full resources of EQT's global network of senior industry executives, operational advisors, and sector specialists to support portfolio companies beyond capital alone. The EQT Foundation Fund's investment thesis is organized around three impact pillars. The Climate & Nature pillar targets companies that measurably reduce greenhouse gas emissions, remove carbon from the atmosphere, restore degraded ecosystems, or develop nature-based solutions with verified additionality and commercial scalability. The Health & Wellbeing pillar backs innovations in biotechnology, digital health, diagnostics, reproductive health, and medical technology that improve human health outcomes at scale — including companies addressing underserved medical conditions and healthcare equity gaps. The Equality of Opportunity pillar invests in companies that broaden access to quality education, skills development, economic mobility, and professional opportunity across underrepresented communities. The fund employs a catalytic capital approach, deliberately accepting higher early-stage risk in exchange for the potential for transformational, durable societal impact. Individual investments range from early seed-stage to growth equity, with the Foundation Fund typically acting as a minority co-investor alongside mission-aligned venture capital and impact funds. The EQT Foundation Fund portfolio spans more than 24 active companies across its three impact themes. Notable Climate & Nature investments include Living Carbon (engineered trees for enhanced carbon sequestration), Made of Air (biochar-based carbon-negative building materials), Noya (direct air capture technology integrated into industrial cooling towers), Patch (enterprise carbon credit procurement and management platform), Ducky (corporate carbon footprint measurement), and Qarbotech (agricultural carbon capture innovation). Health & Wellbeing investments include Vara (AI-powered mammography screening for breast cancer detection), Fertifa (fertility and family-forming employee benefits), ClexBio (scaffold-free bioprinting platform for tissue engineering), Biographica (AI-driven drug discovery), Molecular Attraction (targeted RNA delivery), Videm (digital therapeutic for chronic pain), and Syngular Technology (biosensor diagnostics). The portfolio reflects EQT Foundation's commitment to backing companies at stages where foundation capital can materially improve development timelines and long-term impact outcomes.

The EV II fund is a 70m€ Venture Capital fund that invests in innovative companies in Series A & B stage. The fund has a focus on Fintech and Beyond Banking sectors, including financial technology, RegTech, cybersecurity, mobility, energy, agriculture, and more. The fund targets investments in Central and Eastern Europe, which is an emerging startup ecosystem with amazing talent and founders but lacks the attention and funding resources of more mature regions. The fund has a commitment from RBI, Raiffeisen-Holding Niederösterreich-Wien, and Raiffeisen-Landesbank Steiermark, and has previously invested in a portfolio of 15 companies, including investment banking, e-signature & identification, and RegTech companies, among others. The main goal of Elevator Ventures is to earn a financial return for its investors. In addition, they want to contribute to the strategy of the banks and engage with high-growth companies whose business models might be changing the industry dynamics in the mid- to long term. The fund also cooperates with international co-investors and has decided to invest in a Fund of Funds and other VC funds alongside Raiffeisen-Landesbank Steiermark, and Raiffeisenlandesbank Oberösterreich. The fund also believes in the transformative power of technological shifts that enable high-growth companies to drive customer value and reshape industries. They are driven by a sector focus that encompasses not only Fintech but also Beyond Banking, which includes platform-based business approaches in various service areas. Elevator Ventures also plans to continue to promote innovation in the region with the backing of its LP base.

Elevate Capital Commercialization Gap Fund 1 is an early-stage venture capital fund managed by Elevate Capital, Oregon's first inclusive venture fund, in partnership with Business Oregon and the Oregon Innovation Council. Launched in 2020 with $2.5 million in capital provided by the State of Oregon, the fund was designed to bridge the "valley of death" — the critical funding gap separating early scientific research from initial commercialization — a stage chronically underserved by traditional venture capital given the technology risk, long development timelines, and small check-size requirements. The fund deploys check sizes ranging from $50,000 to $250,000 per investment, targeting Oregon-based startups operating at the earliest stage of science-to-product translation. Priority sectors include life sciences and biotechnology, cleantech and sustainable resources, advanced manufacturing, and consumer health. Elevate Capital's inclusive investment mandate is embedded in the fund's deployment model: of the 15 portfolio companies funded, 29% are women-led ventures and 29% are led by BIPOC or immigrant founders, reflecting Elevate's commitment to closing systemic equity gaps in early-stage technology investment. Over a 12-month deployment period, the fund made 15 investments totaling approximately $1.75 million in disbursed capital. Portfolio companies subsequently raised more than $4 million in follow-on private investment and $4.5 million in additional grant funding, demonstrating a leverage ratio well above 3x on the original state investment. The Commercialization Gap Fund 1 established the foundational template for Oregon's CGF programme and validated Elevate Capital as the preferred manager for deep-tech commercialization investing.

Elevate Capital Commercialization Gap Fund 2 is an early-stage venture capital fund managed by Elevate Capital, in partnership with Business Oregon and the Oregon Innovation Council. Launched in 2022 with $4.5 million in state-provided capital — nearly double the size of its predecessor, the $2.5 million Commercialization Gap Fund 1 — the fund targets Oregon-based startups at the earliest commercialization stage: companies with breakthrough scientific or technological foundations that have not yet achieved the market traction or product maturity necessary to attract traditional venture capital investment. The fund deploys check sizes of $100,000 to $250,000 per company, with a target portfolio of 15 investments. Unlike purely financial VC vehicles, CGF 2 provides enhanced post-investment support, including active mentoring, network access, and introductions to downstream investors. Priority sectors include life science, cleantech and sustainable resources, advanced manufacturing, active lifestyle, and deep tech innovation. Elevate Capital's inclusive investment philosophy — supporting women, BIPOC, immigrant, LGBTQ+, and veteran founders — is a core element of the fund's mandate, continuing the equity-focused approach established in the first Commercialization Gap Fund. The fund builds on the validated model of CGF 1, whose 15 portfolio companies raised over $4 million in private follow-on capital after Elevate's initial investment. Oregon's Commercialization Gap Fund programme, administered by Business Oregon under the Oregon Innovation Council, is one of the United States' most active state-level technology commercialization investment initiatives, structuring fund management partnerships with private-sector VC managers to deploy public innovation capital efficiently and inclusively.

The Elevate Capital Innovation Gap Fund is Oregon's first public-private commercialization gap fund, managed by Elevate Capital, a Portland-based inclusive venture capital firm dedicated to funding underrepresented founders and science-based innovators across the state. The fund was launched in 2021 through a partnership between Elevate Capital and Business Oregon (Oregon's economic development agency), with co-sponsorship from the Oregon Innovation Council (Oregon InC) Commercialization Gap Fund program. It represents a pioneering public-private model designed to bridge the commercialization valley of death—the capital gap between early scientific discovery and first commercial demonstration—for deep-tech and research-based startups in Oregon's key traded-sector industries. The Innovation Gap Fund deploys capital into early-stage, science and research-based startups developing innovations in Oregon's priority sectors, including bioscience and life sciences, cleantech and sustainability, advanced materials, healthcare, and natural resources. The fund is managed through Elevate Capital's differentiated lens of investing in diverse and underestimated founders, with a strong emphasis on backing women-led, minority-led, and underrepresented entrepreneurs. The fund provides both financial capital and active mentorship and commercialization support, helping portfolio companies bridge from laboratory stage to first commercial demonstration and ultimately attract private venture capital. Check sizes range from USD 50,000 to USD 250,000, reflecting the fund's early-stage mandate. Since its launch, the Elevate Capital Innovation Gap Fund has built a portfolio of approximately 30 companies, including six startups funded in the first cohort across sectors such as healthtech, cleantech, and natural resources. Portfolio companies have collectively raised over USD 25.5 million in follow-on equity financing and secured USD 14.7 million in additional non-dilutive grant support, creating more than 151 jobs, with 104 based in Oregon. Approximately 58% of portfolio companies have diverse leadership, with 37% led by women and 43% led by minority founders. The fund's success led Business Oregon to select Elevate Capital as fund manager for a second Commercialization Gap Fund (Gap Fund II) in August 2022, continuing the public-private partnership model.

Elevate Capital Innovation Gap Fund I is an early-stage venture capital fund managed by Elevate Capital, a Portland, Oregon-based investment firm focused on supporting underserved and underrepresented entrepreneurs building companies in science, deep technology, and innovation. Launched in 2020 with support from the Oregon Innovation Council's Commercialization Gap Fund and Business Oregon, the fund addresses the critical financing gap that early-stage Oregon innovators face between initial research funding and the point at which commercial investors typically engage. The fund is designed as a "venture on-ramp" that provides capital and mentorship to science and technology founders at the most challenging stage of their development. The fund targets Oregon-based founders working at the intersection of research and commercial application, with investment tickets typically ranging from 0,000 to 50,000 per company. Sectors of focus include healthcare, life sciences, cleantech and sustainability, and natural resources — industries with strong research and development activity in Oregon's university and federal research ecosystem. The fund is particularly committed to supporting diverse founders: across its portfolio, 43% of companies are minority-led, 37% are women-led, and over 58% have diverse leadership overall, reflecting Elevate Capital's mission to ensure entrepreneurship is accessible to all communities in Oregon. Gap Fund I is closed and has made 11 investments into early-stage Oregon startups. Portfolio companies have collectively raised over 5.5 million in additional equity investment and attracted 4.7 million in non-dilutive grant support, generating more than 104 jobs in Oregon. The fund was succeeded by the Elevate Capital Innovation Gap Fund II (2022 vintage), which continued and expanded the model with additional support from Business Oregon's State Small Business Credit Initiative (SSBCI) program.

Elevate Capital Innovation Gap Fund II is an early-stage venture capital fund managed by Elevate Capital, a Portland, Oregon-based investment firm dedicated to supporting underserved and underrepresented entrepreneurs. Launched in 2022 as the successor to the 2020-vintage Gap Fund I, the fund continues Elevate Capital's mission of providing seed-stage capital to Oregon innovators working in science, deep technology, and commercialization of research-based discoveries. The fund is supported by Business Oregon through the Oregon Innovation Council's Commercialization Gap Fund program, reflecting a public-private partnership model aimed at strengthening Oregon's startup ecosystem and ensuring that innovative science reaches the market. The fund operates with the same investment philosophy as its predecessor: providing early capital at the commercialization gap stage, the critical period between laboratory research and revenue-generating commercial activity where traditional venture capital is typically unavailable. Investment tickets range from 0,000 to 50,000, targeting founders in healthcare, life sciences, cleantech, sustainability, and natural resources. The fund is designed to act as a venture on-ramp that helps founders access and prepare for downstream investment from larger commercial venture funds. Elevate Capital brings hands-on mentorship, network access, and institutional support to its portfolio companies alongside the financial capital. Elevate Capital has deployed Gap Fund I and II across a combined portfolio of 30 startups in Oregon, generating more than 5.5 million in additional equity raised by portfolio companies, 4.7 million in non-dilutive grant support, and more than 151 total jobs created — 104 of which are in Oregon. More than half of all jobs created went to women, minorities, LGBTQ+ individuals, and other underrepresented groups. Gap Fund II maintains the firm's commitment to backing diverse founders, with 43% minority-led and 37% women-led companies across the combined portfolio. Business Oregon further expanded its partnership with Elevate Capital through the State Small Business Credit Initiative (SSBCI) Venture Direct Program in subsequent years.

The Elevate Innovation Gap Fund is an early-stage venture capital programme managed by Elevate Capital, an inclusive venture capital firm headquartered in Portland, Oregon, and the first institutional-scale VC fund in the United States focused primarily on investing in underrepresented and underestimated founders. The programme was established to fill a critical capital gap in Oregon's startup ecosystem — providing early-stage funding to research-intensive and science-driven ventures that lack access to mainstream venture capital due to geography, founder background, or the nature of their technology. The programme has been deployed across two vehicles — Innovation Gap Fund I and Innovation Gap Fund II — with a combined $7 million in assets under management invested across 30 Oregon-based portfolio companies. Sectors of emphasis include healthcare and life sciences, cleantech and sustainability, and natural resources technology, all aligned with Oregon's designated traded-sector industries that carry the highest potential for exporting economic value and creating quality employment in the region. Over 58% of portfolio companies have diverse leadership teams, with 37% led by women and 43% by minority founders — among the highest diversity metrics in institutional US venture capital. Elevate Capital was founded in 2016 and has since grown beyond the Innovation Gap Fund programme to manage the Oregon State Small Business Credit Initiative (SSBCI) Venture Direct Program, a federally funded state-managed capital facility targeting at least 40% participation from socially and economically disadvantaged individuals (SEDI). Business Oregon selected Elevate to manage the SSBCI programme based on demonstrated performance managing the Innovation Gap Funds and its deep-rooted network within Oregon's entrepreneurial community. The Elevate Innovation Gap Fund serves as a replicable model for mission-driven, geographically focused early-stage venture investing with measurable economic and social impact.

Endeit Capital III (legal entity: Endeit Fund III) is the third flagship growth equity fund of Endeit Capital, an Amsterdam and Hamburg-based venture capital firm specialising in European internet and technology scale-ups. The fund held its final close in May 2022 at €303 million, exceeding its original hard cap as a reopening to institutional investors added a further €50 million above the initial target of €250 million. KfW Capital, the German state-owned promotional investment bank, served as an anchor investor alongside German institutional investors committing €50 million in aggregate. The fund attracted over 75 backers including 12 portfolio company founders, underscoring Endeit's reputation within the European startup ecosystem. Endeit Capital III targets Series B-stage and growth-stage technology companies with proven business models and international expansion potential, operating in sectors including Climate Technology, Fintech, Future of Work, Sales Enablement, Security, and AI-driven enterprise software. The fund applies Endeit's established approach of partnering intensively with management teams to support internationalisation, particularly within the DACH region and the Nordics — geographies where Endeit has built one of Europe's deepest operational networks. The firm's expansion to a Stockholm office, opened alongside the Fund III close announcement, reflects this Nordic commitment. Portfolio investments from Endeit Capital III include Parcellab (supply chain communication software), Sharpist (digital leadership coaching), Stravito (enterprise knowledge management), and Amberscript (AI-powered transcription and captioning). Endeit Capital, founded in 2006 and descended from European media group Endemol, manages the fund from offices in Amsterdam, Hamburg, and Stockholm. Fund III is positioned for investors seeking concentrated exposure to high-growth European digital businesses at the inflection point between early traction and global scale.

Energize Ventures Fund III, with $430 million in capital commitments, is a VC fund by Energize Capital. The fund went over its initial target of $350 million. This fund aims to invest in early-stage companies developing digital and software-enabled solutions that drive energy and industrial transformation. The closure of Fund III brings Energize Capital's total assets under management to over $1.8 billion. The fund focuses on asset-light, digital-first climate solutions, particularly in sectors such as industrial digitization, next-generation infrastructure, and the energy transition. Energize Capital plans to invest in companies at the Series A to C stages, with average check sizes ranging from $15 million to $20 million. Initial investments from Fund III include Tyba, a battery optimization software platform; Archive, a resale technology solution for brands; and Nira Energy, a grid interconnection software platform for energy developers. Energize Ventures Fund III is backed by a diverse group of institutional, corporate strategic, family office, and impact investors. New limited partners include Sweden’s Första AP-Fonden (AP1), Capricorn Investment Group, Reference Capital, Keeling Capital, Keysight Technologies, and WEX Venture Capital. Returning investors comprise GE Vernova, Caisse de dépôt et placement du Québec (CDPQ), Builders Vision, UBS, and WEC Energy Group.

Eurazeo Smart City Fund II is a dedicated venture capital fund managed by Eurazeo, the Paris-headquartered global investment group with over €39 billion in assets under management across private equity, growth, venture, real estate, infrastructure, and private debt strategies. The fund held its final and third close on 18 July 2023 at €400 million — one of Europe's largest dedicated smart city and climate technology funds of its vintage. It succeeds Eurazeo's first Smart City Fund, a 2016 vintage that generated five exits — Volta Charging, Bird, Forsee Power, Glovo, and Grab — demonstrating the strength of the thesis and anchoring LP confidence in the platform. The fund invests in high-growth technology companies building scalable solutions for sustainable cities. Target themes span renewable energy generation and distribution, advanced electric mobility, climate-smart manufacturing, sustainable logistics, and built environment technologies with verifiable carbon-reduction impact. Investment tickets range from €3 million to €40 million per company, with a target portfolio of 20–25 companies deployed over a four-year investment period. The fund's impact framework monitors carbon savings and removal through operational KPIs aligned with five-year environmental objectives, appealing to both financial and sustainability-focused limited partners. The fund's LP base of 23 institutional investors reflects exceptionally broad geographic and institutional diversity. Sovereign wealth funds and development finance institutions — the European Investment Fund (EIF), Bpifrance, PFR, FRC, and the Korean Venture Investment Corporation (KVIC) — anchor the capital base. Eighteen strategic corporations from Europe and Asia co-invest alongside them, including EDF, TotalEnergies, Stellantis, Hager Group, ZF, RATP, Mainova, SP Group, Banpu, and Jardine Pacific, providing both capital and unique market access for portfolio companies. A select group of family offices rounds out the LP roster.

Evok Innovations Cleantech Fund II is an early-stage venture capital fund managed by Evok Innovations, a Vancouver-based cleantech investment firm co-founded by Canadian energy majors Suncor Energy and Cenovus Energy. The fund announced its first close at USD $300 million in March 2022, with commitments from Export Development Canada, Royal Bank of Canada, The Toronto-Dominion Bank, and returning strategic limited partners Suncor and Cenovus Energy. Subsequent investors including Alberta Enterprise Corporation and Technip Energies joined the fund through 2023, reflecting strong institutional conviction in the industrial decarbonization investment thesis across both North American energy and European industrials. The fund deploys capital across North America into early-stage companies addressing key industrial decarbonization verticals: carbon capture, utilization and storage (CCUS); low-carbon fuels including hydrogen and biofuels; clean energy and grid innovations; sustainable mobility; advanced materials; and circularity and waste valorization. Evok Innovations operates at the intersection of corporate venture capital and traditional institutional VC, leveraging strategic partnerships with energy and industrial corporations to accelerate technology validation and commercial scale-up for portfolio companies. This co-development model—combining corporate strategic access with institutional capital—is a central differentiator of the fund's approach to deep-tech cleantech investing. The fund's leadership team comprises Marty Reed, Mike Biddle, Naynika Chaubey, and Jane Kearns, collectively bringing decades of experience in cleantech company building, industrial technology, and growth equity investing. Evok Innovations Cleantech Fund II follows the firm's first fund, which backed a portfolio of industrial sustainability technology companies. As of October 2024, the fund remained actively deploying capital, with its latest investment in Ebb Carbon, a carbon removal company, demonstrating continued focus on scalable climate solutions. The fund's successor, Cleantech Fund III, was announced in 2026 with a USD $400 million target, reflecting strong momentum in the industrial decarbonization investment theme and the manager's growing institutional track record.

F2i Fund II (officially F2i – Secondo Fondo Italiano per le Infrastrutture) is the second infrastructure fund managed by F2i SGR (Società di Gestione del Risparmio S.p.A.), Italy's largest independent infrastructure fund manager with total assets under management of approximately €7.1 billion across five funds. The fund raised approximately €1.2 billion and completed its fundraising in 2015, deploying capital across key Italian infrastructure sectors over its investment period. In December 2025, F2i SGR formally launched the wind-down and liquidation process for Fund II, with assets being returned to investors as portfolio holdings mature. F2i Fund II pursued a diversified Italian infrastructure strategy targeting core and core-plus assets across sectors including telecommunications infrastructure (IRIDEOS, Towertel), energy and utilities (Sorgenia, E2i Energie Speciali), healthcare facilities and services (Kos), and logistics infrastructure (TRM). The fund's investments focused on established, mission-critical infrastructure assets with predictable, regulated, or quasi-regulated cash flows, consistent with F2i's broader mandate to deploy institutional capital into Italian infrastructure through long-term, income-oriented ownership. F2i's approach combines deep sector expertise with strong stakeholder relationships developed through decades of engagement with Italian utilities regulators, local governments, and infrastructure operators across key national sectors. F2i Fund II's portfolio performed across multiple Italian infrastructure sub-sectors during a period of significant regulatory and market evolution in Italian energy, telecommunications, and healthcare markets. The fund's wind-down, initiated in December 2025, reflects a completed investment cycle with capital now being returned to investors through a managed exit process. The success of Fund II, combined with the strong track record established by Fund I, enabled F2i SGR to raise Fund III at €3.6 billion — nearly three times the size of Fund II — demonstrating the institutional conviction in the Italian infrastructure asset class and F2i SGR's ability to source, manage, and exit complex infrastructure positions at scale.

F2i Fund III (F2i – Terzo Fondo per le Infrastrutture) is the third flagship infrastructure fund managed by F2i SGR, Italy's largest independent infrastructure asset manager with approximately €7.1 billion in total AUM across five funds. Established in 2017 and having completed its fundraising in 2018 at €3.6 billion, Fund III is currently the largest fund under F2i's management. The fund was formed in part through the migration of remaining Fund I portfolio assets into a new vehicle at the end of Fund I's investment period, consolidating F2i's Italian infrastructure platform at significantly greater scale and providing continuity of management for long-duration infrastructure assets. F2i Fund III deploys capital across a broadly diversified portfolio of Italian infrastructure assets spanning energy and utilities, telecommunications and digital infrastructure, transport and airports, healthcare, environmental services, and gas distribution. Core portfolio companies include SEA (Società per Azioni Esercizi Aeroportuali, Milan Airports), Aeroporto di Bologna, EI Towers and Persidera (tower and telecommunications infrastructure), Sorgenia (energy), 2i Rete Gas (gas distribution, one of Italy's largest), IGS (integrated waste management), and healthcare and medical assets. The fund applies a core infrastructure philosophy targeting essential, long-lived assets with visible revenue streams regulated or contracted by Italian authorities, consistent with institutional investor requirements for capital preservation and predictable long-term income. F2i Fund III is fully invested, with capital deployed across its diversified Italian infrastructure portfolio. The fund's €3.6 billion scale reflects both F2i SGR's fundraising franchise and the depth of institutional LP conviction in Italian infrastructure as a domestic and European asset class. The portfolio includes some of Italy's most strategically significant infrastructure businesses, operating in regulated and semi-regulated markets with essential service mandates and high barriers to entry. F2i SGR's track record across multiple fund generations has established it as the preeminent Italian infrastructure general partner, supporting continued fundraising through the sustainable infrastructure focus of Fund V at €1.6 billion.

F2i Fund V (F2i – Fondo per le Infrastrutture Sostenibili) is the fifth infrastructure fund managed by F2i SGR, Italy's largest independent infrastructure fund manager with approximately €7.1 billion in total assets under management. Established at the end of 2020 and completing its fundraising in 2023 at €1.6 billion, Fund V marks F2i's strategic entry into explicitly sustainability-oriented infrastructure investing. The fund carries Article 8+ classification under the EU Sustainable Finance Disclosure Regulation (SFDR), meaning it promotes environmental and social characteristics while maintaining a minimum allocation to sustainable investments aligned with the EU Taxonomy framework. F2i Fund V targets sustainable infrastructure assets across the Italian economy, focusing on sectors undergoing active decarbonization, digitalization, and service quality improvement. Core investment sectors include clean energy and energy transition (Sorgenia), environmental infrastructure and waste management (ReLife), healthcare and medical technology (F2i Medtech), and next-generation telecommunications and digital infrastructure (FiberCop). The fund's Article 8+ ESG framework integrates environmental and social KPIs into investment selection, portfolio monitoring, and reporting — reflecting the increasing alignment between F2i SGR's infrastructure mandate and institutional LP demand for sustainable, impact-aligned infrastructure exposure that meets European regulatory standards for green investment. F2i Fund V completed its fundraising cycle in 2023, building on the established F2i SGR franchise and the firm's three-fund track record in Italian infrastructure. The fund's focus on sustainable infrastructure assets — including companies in clean energy, healthcare, digital connectivity, and circular economy — positions it as a natural evolution of F2i's earlier core infrastructure vehicles while addressing growing sustainability requirements of European institutional investors. Fund V adds to F2i SGR's total AUM of €7.1 billion across four equity funds and one debt fund, reinforcing the firm's position as Italy's premier infrastructure investment platform. The fund represents a bridge between traditional infrastructure core investing and the emerging sustainable infrastructure asset class gaining prominence across European institutional allocators.

Firstime Ventures Fund III — announced in November 2021 under the working title 'Firstime $100 million climate-tech fund' — is the third venture capital fund raised by Firstime Ventures, a Tel Aviv-based early-stage VC firm founded in 2014. Backed by investor Jonathan Kolber of Viola Investment Group, the fund reached its $100 million target and deployed capital across approximately 15 Israeli technology companies, making Firstime one of the few Israeli venture managers explicitly aligned with the United Nations Sustainable Development Goals. The fund's thesis spans two complementary verticals: climate technology and digital health. In climate tech, Firstime focuses on precision agriculture, water solutions, renewable energy, and sustainability-enabling software. In digital health, the fund backs innovations in chronic disease management and precision medicine. Inaugural investments included BeeHero (precision pollination intelligence for commercial agriculture) and Hygieia (AI-powered diabetes management platform), illustrating the portfolio's dual-focus approach united by impact potential. The fund invests at the pre-seed and seed stages in Israeli founders targeting global markets. Fund III represents a meaningful step-up in size relative to Firstime's prior vehicles, reflecting both the maturation of the firm's brand and growing international LP interest in Israeli climate innovation. The fund is managed by co-founders Jonathan Benartzi and Nir Tarlovsky alongside partners Keren Kopilov and Itamar Weizman, who joined for Fund III's launch. Firstime Ventures has built a portfolio of Israeli startups across technology, digital health, and sustainability through three successive fund generations since its founding in 2014.

Firstime Ventures Fund III is the third venture capital fund of Firstime Ventures, an Israeli early-stage VC firm founded in 2014 by Jonathan Benartzi and Nir Tarlovsky. The fund was announced in November 2021 with a target capitalisation of $100 million, positioned as one of the only Israeli venture capital funds explicitly aligned with all 17 United Nations Sustainable Development Goals (SDGs). At announcement, the fund had secured $50 million in initial commitments, anchored by Jonathan Kolber of Viola Investment Group, one of Israel's most prominent technology investors. Fund III focuses exclusively on Israeli-founded startups addressing climate change and global health challenges across seven defined verticals: AI for Renewable Energies, IoT and Data-Driven Agriculture, Food Security, Clean and Circular Economy, Energy and Environment, Net Zero Carbon, and Affordable and Accessible Digital Health. The fund extends Firstime's venture investing model to an impact-first mandate, complemented by Firstime Credit — a dedicated blended-finance arm designed to provide portfolio companies with growth capital alongside equity financing. Inaugural portfolio companies include BeeHero (precision agriculture hive monitoring) and Hygieia (diabetes management platform for uncontrolled patients). Firstime's prior two funds deployed $150 million into more than 30 Israeli technology startups, establishing the firm's track record in early-stage Israeli venture investing. Fund III marks a deliberate shift toward impact-first investing, with climate tech and digital health as the defining theses. The fund was also referenced in the market as 'Firstime Ventures third fund', reflecting its position in the firm's fundraising sequence.

Fitz Gate Ventures Fund III is the third venture capital fund of Houston-based Fitz Gate Ventures, co-founded by Jim Cohen and Mark Poag, who bring combined backgrounds from investment banking, corporate law, private equity, and software entrepreneurship. The fund completed its close in December 2025, with Rice University's Office of Innovation serving as anchor limited partner — deepening the firm's institutional relationship with one of its home universities and validating its university technology transfer thesis. Building on the deep-tech investment strategy refined across Funds I and II, Fund III concentrates on seed-stage hard tech and deep tech companies commercialising intellectual property from elite US research universities, including Princeton, Yale, UCLA, UC Berkeley, Virginia Tech, Baylor College of Medicine, and Vanderbilt University. The fund targets initial check sizes of $500,000 to $1 million with reserves for follow-on participation. Priority sectors include semiconductors and photonics, metamaterials, quantum computing, and other university-derived technologies with high barriers to replication. Fitz Gate deploys capital as lead investor, co-investor, or independent backer depending on deal structure. Fitz Gate's prior funds each produced one unicorn exit: Fund I's seed investment in Quantum Circuits, Inc. led to a $550 million acquisition by D-Wave Systems (QBTS). Fund II's seed investment in Celestial AI — a photonic fabric startup — resulted in a sale to Marvell Technology (MRVL) for up to $5.5 billion, announced in December 2025. These back-to-back unicorn exits underpin Fund III's thesis that the convergence of university IP and patient seed capital can produce outsized returns from deep science.

The Inlandsis Fund is the inaugural carbon finance vehicle created by Inlandsis ManagementCo, a joint initiative of Priori-T Capital and Fondaction Asset Management, both headquartered in Montréal, Québec. Launched in 2017 with a fund size of CAD $30 million and backed by Fondaction as its lead investor alongside more than fifteen institutional and strategic investors from Québec and across Canada, the fund operates over a ten-year investment horizon through 2027. The fund pioneered a unique project-finance model for the North American carbon market: it provides upfront capital to developers of greenhouse gas reduction and natural sequestration projects in exchange for the future stream of carbon credits generated by those projects. This structure addresses a critical financing gap by giving project developers the liquidity needed to implement and certify emissions-reduction initiatives before credits can be sold on compliance markets. Typical project investments range from CAD $2 million to CAD $15 million, targeting compliance markets including the California-Québec linked cap-and-trade system, California's Low Carbon Fuel Standard (LCFS), the Alberta carbon market, and voluntary carbon markets. Since inception, the Inlandsis Fund has supported more than 45 individual projects spanning nature-based and industrial decarbonisation sectors. As of May 2025, portfolio projects have collectively protected 22,456 hectares of land and generated reductions or removals totalling over 3 million tonnes of CO₂ equivalent. Notable portfolio projects include Bluesource dairy farm methane reduction, The Climate Trust grassland conservation programme in the western United States, and the Northeast Wilderness Trust forest preservation initiative in Vermont. The fund's commercial success validated the model and led Fondaction Asset Management and Priori-T Capital to launch Inlandsis II in 2022, which closed at nearly CAD $130 million in 2024.

FORWARD.one Fund III is a €200 million industrial technology venture fund aiming to back Europe’s next generation of breakthrough hardware and deeptech companies. With a hard cap set at €250 million, the fund will deploy initial tickets in the range of €1–3 million, reserving additional capital for follow‑on financing. The fund intends to build a concentrated portfolio of 25–30 early‑stage companies, focusing on domains such as semiconductors, robotics, sensors, advanced automation, climate tech, and industrial innovation. Its geographic focus includes the Benelux, Germany/Austria/Switzerland (DACH), the Nordics, and other European innovation hubs. FORWARD.one brings a hands‑on, commercialization‑oriented investment style. Its value proposition is rooted in bridging the “deeptech gap” by combining technical domain expertise, rapid execution, and industry networks to help founders transform advanced research into scalable products for real markets. The fund also builds on FORWARD.one’s performance track record: Fund I (launched ~2018) delivered a net IRR of ~41 % and 2× DPI, with exits such as Sensorfact (acquired by ABB) and Mayht (acquired by Sonos). Fund II (launched ~2021, ~€145 million) is mid‑deployment, targeting similar sectors. With Fund III, the firm aims to scale its backing of Europe’s industrial tech champions and deliver strong returns for LPs.

Founders Future Conviction Entrepreneurs (FFCE) is a Fonds Professionnel de Capital Investissement (FPCI) managed by Founders Future Capital Partners, an AMF-approved portfolio management company (GP-20240021) headquartered in Paris, France. Launched in 2025, FFCE was created to give wealth management professionals, private banks, family offices, and independent financial advisors structured access to Founders Future's proprietary deal flow. The fund was developed in partnership with AirFund and distribution partners including Cyrus-Herez and Cheval Blanc, and received Bpifrance Guarantee of Equity Funds approval in June 2025. FFCE employs a dual-stage co-investment strategy that allocates 50% of capital to early-stage companies (pre-seed to Series A) and 50% to growth-stage companies (Series B and beyond), always co-investing alongside Founders Future's flagship primary funds. Target sectors include artificial intelligence, cybersecurity, health and medtech, B2B software, and energy transition. The fund targets a portfolio of 40 to 50 participations, applying rigorous selection from a deal flow of over 10,000 annual opportunities with an acceptance rate of approximately 1 in 1,000. The minimum investment ticket is EUR 100,000 with progressive capital calls. Founders Future Capital Partners, the managing firm behind FFCE, was founded in 2018 by serial entrepreneur Marc Menase and manages approximately EUR 300-400 million in AUM across two early-stage funds and one growth fund. The firm has invested in over 120 companies, supported more than 300 founders, and counts notable portfolio companies including Lydia, Alma, Yuka, La Fourche, Veesion, Swan, Riot, and Waterdrop. FFCE targets a gross annual IRR of 25%. Founders Future holds B Corp certification and is expanding its platform with a dedicated US growth fund targeting up to USD 250 million.

GEF South Asia Growth Fund III is a climate-focused impact private equity fund managed by GEF Capital Partners, LLC, a Virginia-based firm founded in 2018 through a spinout from Global Environment Fund, a pioneer in sustainability and resource-efficiency investing since 1990. The fund targets middle-market companies in South Asia—primarily India—that provide solutions enabling climate mitigation, climate adaptation, circular economy, and resource efficiency. With a target size of USD 300–400 million and a final close of approximately USD 440 million (March 2025), Fund III is GEF Capital's largest vehicle to date, raising beyond its initial target and reflecting strong institutional demand for climate-aligned private equity in South Asian emerging markets. The fund deploys USD 20–40 million per investment across 9–12 portfolio companies, concentrating on nine thematic areas: renewable energy value chain, energy efficiency, food and water security, resource and waste recovery, mobility, smart cities and green buildings, technological and digital solutions, and low-carbon transition. GEF Capital's Mumbai-based team, led by Founding Partner Raj Pai—who joined the predecessor Global Environment Fund in 2008—brings deep origination relationships and local execution capability in India. The fund is structured as a limited partnership under Ontario, Canada law, with a Luxembourg feeder fund for European institutional investors, and an open mandate for opportunistic co-investments in Southeast Asia. Fund III's LP base includes leading development finance institutions: the International Finance Corporation (IFC, USD 40 million equity plus USD 40 million co-investment envelope), the European Investment Bank (EIB, USD 40 million), British International Investment (BII), and Swedfund (USD 25 million). This roster reflects the fund's positioning at the intersection of development finance and climate investing. GEF Capital's predecessor South Asia Growth Fund II (approximately USD 193 million, 2018 vintage) established the strategy's track record and formed the foundation for Fund III's expanded thematic scope and target fund size.

GEF US Climate Solutions Fund II LP is a private equity fund managed by GEF Capital Partners. It focuses on investing in North America-based lower middle-market companies that have developed solutions to address climate change and pollution mitigation. The fund exceeded its original $250 million target, closing with $325 million of capital commitments. Limited partners in Fund II include various climate change-focused institutions such as Blue Earth Capital, HQ Capital, ODDO BHF, INGKA Investments, GEM Investments, Första AP-fonden, Quilvest Capital Partners, Granite Capital Management, and Nordea. The fund aims to support small-scale businesses critical to the transition to a net zero and circular economy by providing both capital and guidance from impact investors. GEF Capital invests in companies in sectors including clean energy, energy efficiency, waste, water, and resource efficiency. As of May 2024, the fund has invested in six companies: InSite, a Washington DC-headquartered provider of software used by real estate owners and operators to reduce energy usage and improve building performance in order to meet sustainability goals (2021); Lifecycle Renewables, a Massachusetts-based recycler of used cooking oil into a branded heating oil that is used by universities, hospitals and utility companies to attain net zero carbon emission targets (2022); Murf E-Bikes, a California-based designer and maker of electric bikes (2022); Polargy, a California-based designer of energy efficient systems for hot and cold aisle containment systems, modular walls and structural ceilings in data centers (2023); Civic Renewables, a Maryland-based provider of residential solar energy installation services (2023); and Next Step Energy Solutions, a Colorado-based provider of LED lighting systems used in the healthcare, manufacturing and commercial real estate sectors (2023).. With the closing of Fund II, GEF Capital welcomed two new operating partners, bringing expertise in carbon credit development, sales, marketing, and operational support to deepen value creation and impact for portfolio companies. The fund aims to showcase that environmental outcomes can result in strong financial and environmental benefits. FirstPoint Equity served as the lead placement agent for GEF Capital in fundraising for Fund II, attracting a broad spectrum of responsible investors. Additional placement agent services were provided by Asante Capital, TritonLake, and Impactus Partners. Latham & Watkins served as legal counsel for the formation of Fund II.

Giant Ventures Climate-focused Growth Fund is a $150 million venture capital fund launched by Giant Ventures in January 2024, targeting the critical Series B funding gap in global climate technology. Headquartered in London, Giant Ventures structured this vehicle alongside its $100 million Seed Fund to deploy a combined $250 million into purpose-driven technology companies across the United Kingdom, the United States, and the Nordic countries—representing one of the larger transatlantic dual-strategy fund launches in European impact investing in 2024. The fund's investment thesis concentrates on climate technology companies at the growth stage that have demonstrated product-market fit and are scaling commercially. Giant Ventures pursues three transformative themes across both funds—climate, health, and inclusive capitalism—with the Climate-focused Growth Fund dedicating its full capital to climate-technology companies seeking institutional growth capital. Target investments typically enter at the Series B stage, providing capital to companies developing energy storage, carbon markets, green buildings, and sustainable mobility solutions. The fund's LP base includes BMW, Henkel, RIT Capital Partners, Denmark's sovereign investment fund (IFU), The Nature Conservancy, Sir Richard Branson, and the co-founders of Booking.com, Unity, and SoFi. Active portfolio investments include Field (energy storage, $300M raised), Agreena (carbon removal and regenerative farming), Beams (green home renovation), and Haven (battery storage marketplace). Giant Ventures manages the fund from offices in London, California, New York, Stockholm, and Copenhagen.

Giant Ventures Seed Fund is a $100 million early-stage venture capital fund launched by Giant Ventures in January 2024 to back the next generation of purpose-driven technology companies across the United Kingdom, the United States, and the Nordic countries. The fund forms one half of Giant Ventures' simultaneous 2024 fundraise—alongside the $150 million Climate-focused Growth Fund—representing a combined $250 million transatlantic commitment to impactful technology investing. The Seed Fund targets approximately 25 early-stage companies operating across Giant Ventures' three core themes: climate technology, health innovation, and inclusive capitalism. With seed-stage ticket sizes, the fund provides capital and operational support through Giant Ventures' offices in London, California, New York, Stockholm, and Copenhagen. The LP base includes BMW, Henkel, RIT Capital Partners, Denmark's sovereign investment fund (IFU), The Nature Conservancy, Sir Richard Branson, and co-founders of Booking.com, Unity, and SoFi. Portfolio companies backed through Giant Ventures' strategy include Agreena (carbon credit and regenerative farming), Meadow (education fintech), Baton (small business marketplace), Doccla (virtual hospital ward), and Haven (battery storage marketplace). The fund reflects Giant Ventures' belief that purpose-driven technology—investing at the intersection of climate, health, and inclusive capitalism—can generate top-quartile financial returns alongside meaningful societal impact.

Golding Impact 2021 is Golding Capital Partners' first dedicated private equity impact fund, classified as Article 9 under the EU Sustainable Finance Disclosure Regulation (SFDR)—the highest sustainability classification under European law—representing the Munich-based manager's commitment to measurable environmental and social impact investing. The fund reached its final close at €115.5 million on March 25, 2025, attracting institutional capital from pension funds, insurance companies, savings banks, and foundations across Germany, Switzerland, Sweden, and Portugal. Structured as a multi-manager fund of funds, Golding Impact 2021 invests in private equity strategies with a focus on climate technologies, environmental innovation, and companies driving long-term systemic improvements in resource efficiency and climate adaptation. Portfolio construction is broadly diversified across regions, sectors, and underlying fund managers, with the fund invested in nine private equity funds representing more than 100 portfolio companies globally by the time of final close. The fund targets expansion to over 200 portfolio companies through its existing commitments by end of 2025. Golding Capital Partners describes the fund's strategy as targeting 'long-term and irreversible changes' across the companies and industries in which it invests, distinguishing Golding Impact 2021 from lighter ESG-integration approaches. The fund's Article 9 upgrade reflects stricter requirements for ambitious, measurable environmental and social outcomes. A successor fund targeting European and North American markets was planned for launch in Q4 2025, reflecting growing institutional demand for impact-first private equity allocations within Golding's expanding platform.

ISQ Growth Markets Infrastructure Fund II is I Squared Capital's second vehicle dedicated to mid-market infrastructure in emerging economies, targeting a total raise of $3 billion. The fund is the successor to its predecessor vehicle, which closed at approximately $2 billion, and was officially launched with a data room opening in mid-2024. I Squared Capital, founded in 2012, manages over $50 billion in assets and operates across the Americas, Europe, Africa, Middle East, and Asia, making it one of the most geographically diversified infrastructure managers globally. The fund's investment strategy targets mid-market infrastructure assets in sectors experiencing the highest demand in emerging markets: renewable energy and energy transition, digital infrastructure and connectivity, transportation and urban mobility, and industrial decarbonization. I Squared Capital focuses on companies that benefit from structural tailwinds in home markets with developing regulatory frameworks, deploying capital across 12–18 investments with typical equity checks of $150–300 million. Development finance institutions serve as cornerstone investors, with the International Finance Corporation (IFC) and the Asian Infrastructure Investment Bank (AIIB) each committing approximately $50 million. With a target close by March 2026 and confirmed commitments from multilateral LPs, the fund targets mid-teens returns. I Squared Capital's track record in growth markets includes exits and ongoing investments in telecoms towers, power generation, renewable energy, and digital infrastructure platforms across Latin America, Africa, the Middle East, India, and Southeast Asia, demonstrating consistent execution in challenging operating environments.

Launched in 2023, ISAI Build Venture is an €80 million venture capital fund created through a strategic partnership between ISAI, one of France's leading entrepreneurial venture capital firms, and Bouygues, the diversified French industrial group with operations spanning construction, real estate development, transport infrastructure, and energy services. The fund represents Bouygues' commitment to accelerating the digitization and decarbonization of the built environment by co-investing alongside innovative technology startups working on transformative solutions. ISAI Build Venture invests as a minority stakeholder in 15 to 20 early- to growth-stage startups across funding rounds from Seed through Series C, deploying tickets between €500,000 and €5 million per investment. The fund targets technology companies — both software and hardware — whose products address the transformation and sustainability challenges facing Bouygues' four core business segments: construction, real estate development, transport infrastructure, and energy and services. Priority themes include construction robotics, materials innovation, low-carbon building technologies, digital twins, energy efficiency platforms, and PropTech solutions that can scale across Bouygues' global operations and supply chain. The fund structure enables portfolio companies to benefit directly from Bouygues' operational footprint and commercial networks, providing access to pilot sites, procurement relationships, and revenue-generating deployments at significant scale — a differentiated value proposition compared to purely financial VC funds. ISAI's entrepreneurial investor community and advisory ecosystem complement Bouygues' industrial backing, creating a hybrid corporate-VC model designed to combine strategic relevance with venture-speed decision-making and founder-friendly governance.

ISAI Venture IV is the fourth early-stage venture capital fund from ISAI, France's pioneering tech entrepreneurs' fund co-managed by successful founders of the French Tech ecosystem. Founded by serial entrepreneurs who built some of France's most prominent digital companies, ISAI manages approximately EUR 550 million in assets across four investment strategies: early-stage venture capital, late-stage venture capital, private debt, and growth/buyout. ISAI Venture IV targets a total size of EUR 100 million and held its first closing at EUR 75 million — representing three-quarters of the target — in December 2025, with anchor support from Bpifrance and a community of entrepreneur-limited partners drawn from ISAI's extensive alumni network. The fund invests at the pre-seed and seed stages in capital-efficient French and Europe-based technology companies demonstrating early commercial traction or strong product-market fit. Primary tickets range from EUR 1 million to EUR 3 million, with a dedicated pre-seed allocation of 10% of the fund for investments of EUR 100,000 to EUR 500,000 in the earliest-stage opportunities. ISAI's thematic focus for this vintage spans artificial intelligence applications, decarbonisation technologies, marketplace platforms, and SaaS business models with strong unit economics. The fund targets companies positioned to become market leaders in their respective categories, with a geographic mandate of 80% in France and the remainder in US-based ventures founded by French entrepreneurs. ISAI's earlier venture funds produced some of France's most celebrated digital success stories, including early investments in BlaBlaCar, Malt, 360Learning, Prose, Alma, and Flowdesk. This track record has established ISAI as a top-tier French early-stage investor and attracted a high-quality LP base including leading family offices and founder-entrepreneurs from prior portfolio companies. Classified as an Article 8 fund under the EU Sustainable Finance Disclosure Regulation, ISAI Venture IV incorporates environmental and social characteristics into its investment screening process. The fund is currently in active fundraising ahead of its target final close.

Impact Ventures PSM Seed is a $5 million pre-seed and seed-stage impact venture fund jointly launched in February 2025 by Impacta VC, a specialist impact investment firm with offices in Santiago de Chile and Montevideo, Uruguay, in strategic alliance with Impact Ventures PSM, the private impact investment arm of Promotora Social México (PSM), a pioneering Mexican social enterprise organisation. The fund marks a significant collaboration between an established Latin American impact investor and one of Mexico's most respected social impact institutions, combining Impacta VC's investment management expertise with PSM's 30-year track record of social innovation and its deep network in Mexican civil society and corporate sectors. The fund targets pre-seed and seed-stage startups across Latin America — primarily Mexico, Chile, Colombia, Argentina, and Brazil — that are building technology-enabled solutions with measurable social or environmental impact. Target sectors include financial inclusion and fintech, digital health and healthcare access, affordable housing and proptech, sustainable agriculture and agritech, education technology, clean energy and climate solutions, and fair trade platforms. Investment ticket sizes range from $100,000 to $300,000 per startup, with a portfolio construction targeting approximately 20 companies. Investment criteria require founding teams to be full-time committed, with scalable and replicable business models in underserved markets and a strong technological component underpinning their value proposition. Impact Ventures PSM Seed is managed by co-managing partners Corinne Lebrun (Impact Ventures PSM) and David Alvo (Impacta VC), combining legal and operational expertise from both organisations. The fund has made its first confirmed investment in Preventix, a Mexican preventive health technology startup focused on cervical cancer early detection via AI-powered diagnostics. By combining Impacta VC's investment methodology — honed across its Chilean and Uruguayan portfolio — with PSM's Mexico-specific impact ecosystem relationships, the fund is positioned as one of the first dedicated impact seed vehicles serving the Mexican and broader Latin American startup ecosystem with institutional-quality investment management and rigorous impact measurement frameworks.

Indico VC III is a €125 million venture capital fund raised by Índico Capital Partners, a Lisbon-based independent VC manager founded in 2017. The fund launched in November 2025 and secured a €30 million anchor commitment from the European Investment Fund (EIF), reflecting strong institutional confidence in Índico's track record across Southern Europe. The fund targets early-stage technology companies at the Seed to Series B stages, writing initial cheques between €500,000 and €10 million, with a focus on founders with roots in Portugal, Spain, and Italy — including those who have relocated to the United States, United Kingdom, or other major innovation hubs. The fund's investment thesis is concentrated on four high-conviction verticals: Enterprise SaaS, Artificial Intelligence, Deep Tech, and emerging frontier sectors such as Spacetech and Oceantech. This sector selection reflects Índico's observation that Southern European founders are increasingly building globally competitive products in deep-tech and AI, benefiting from world-class engineering universities and growing R&D ecosystems in Lisbon, Barcelona, and Milan. The fund also considers opportunities in Cybersecurity and advanced software, areas where Portuguese and Spanish talent pipelines have shown consistent quality. Índico Capital Partners has managed five prior funds totalling over €240 million in assets under management and has backed 53 portfolio companies, which together have raised over €2.5 billion in follow-on financing. Managing General Partner Stephan de Moraes leads the investment team. The EIF's €30 million anchor commitment under the InvestEU Programme underscores the fund's role in channelling institutional capital toward Southern European deeptech innovation.

Infranity Enhanced Return Debt Fund (ERDF) is a pan-European infrastructure debt fund managed by Infranity, a specialist infrastructure investment manager established to provide institutional investors with direct access to infrastructure lending opportunities. The fund targets senior debt positions in the sub-investment grade infrastructure segment across continental Europe, focusing on transactions that combine infrastructure risk profiles with enhanced yield above core investment-grade infrastructure debt strategies. Generali Group was among the anchor investors at launch, reflecting strong institutional backing from Europe's largest insurance groups. ERDF deploys capital across a portfolio of pan-European infrastructure assets with a dedicated 50% allocation to climate solutions, including renewable energy projects, low-carbon energy transition assets, and essential digital and social infrastructure. Infranity's debt strategy targets first-lien senior secured structures on assets with visible and contracted cash flows, offering investors a risk-return profile positioned between core infrastructure equity and high-yield corporate credit. The fund's initial launch announcement in September 2024 confirmed commitments of €1.585 billion, establishing it as one of Europe's largest infrastructure debt launches. As of early 2026, ERDF had grown to €2.3 billion in committed capital and was targeting a final close of €3 billion in the first quarter of 2026. Infranity's broader platform manages infrastructure debt and equity strategies with a strong sustainability focus and active participation in the European energy transition. The fund is expected to be among the largest dedicated infrastructure debt vehicles focused on the enhanced return segment in Europe, capitalizing on the growing institutional demand for infrastructure fixed income.

Inverness Graham Green Light Fund is the inaugural dedicated impact-focused buyout fund from Inverness Graham Investments, a lower middle market private equity firm headquartered in Wayne, Pennsylvania. The Fund reached a final close in October 2024 at $238 million, surpassing its $200 million target, with commitments from both existing Inverness Graham investors and several new U.S. and European institutional investors, representing strong institutional demand for the firm's environmental sustainability thesis applied to the lower middle market.The Green Light Fund pursues control buyouts of high-growth, lower middle market businesses delivering measurable environmental sustainability outcomes. Rather than targeting future-generation clean technologies, the Fund focuses on companies that provide "Environmental Sustainability Now" — products, software, and services that improve efficiency and support environmentally sustainable solutions available in the marketplace today. Target segments include Energy Monitoring & Management, Sustainable Packaging, Data Center Technology & Services, Supply Chain Software & Services, and Managed IoT Services. Investment sizes are calibrated to the lower middle market, consistent with Inverness Graham's existing flagship buyout strategy.The Green Light Fund completed three investments in its initial deployment phase: Concord Servicing, a specialty loan servicing software provider; Custom Agronomics, a developer of nutrient efficiency products for agriculture; and My Yield, a seed treatment solutions provider. With $160 million raised from new investors to the Inverness Graham platform, the Fund validates strong institutional interest in lower middle market sustainability buyouts. The Fund represents Inverness Graham's deliberate expansion into the growing market for businesses enabling decarbonization and improved environmental outcomes today.

Khosla Ventures VIII is a multi-stage venture capital fund managed by Khosla Ventures, one of Silicon Valley's most distinctive and high-conviction investment firms. Closed at $1.6 billion in 2023, Fund VIII represents the flagship vehicle in a broader $3.1 billion fundraise encompassing three parallel vehicles — Fund VIII ($1.6B), a Seed Fund ($500M), and a Growth Fund ($900M) — reflecting investor confidence in Khosla's research-intensive approach at a time when many competing firms were scaling back fund sizes. The fund deploys capital across companies developing transformative technologies in artificial intelligence, climate technology, nuclear fusion, humanoid robotics, biotechnology, and enterprise software. Khosla Ventures VIII invests at multiple lifecycle stages, from early-stage research ventures through growth companies with emerging product-market fit, providing patient capital alongside deep operational support. The fund invests primarily in the United States, concentrating in Silicon Valley and other leading technology hubs, with portfolio companies frequently built around fundamental scientific breakthroughs rather than incremental improvements. Khosla Ventures was co-founded by Vinod Khosla in 2004 following his tenure at Kleiner Perkins, where he had previously backed Sun Microsystems. The firm established its reputation through high-conviction, contra-conventional bets — often dismissed at inception — including early investments in Square (now Block), Affirm, DoorDash, Instacart, and OpenAI. Fund VIII continues this tradition, with particular emphasis on companies at the frontier of AI and climate solutions, where Khosla believes patient venture capital can unlock technologies with outsized economic and societal impact.

The fund is designed as a European closed‑end venture capital vehicle managed by Kibo Ventures. It aims to back early‑stage software businesses with global ambition, leading or co‑leading pre‑series A and series A rounds. Its investment policy places a geographic emphasis on companies whose center of operations, management or strategic base is in Spain, with the intention that at least two‑thirds of invested capital goes into Spanish companies. The duration of the fund is estimated at ten years from the first close, extendable by up to two additional one‑year periods, and it targets a portfolio of B2B software companies with differentiated technologies and scalable international models. Typical checks are in the order of ~€2 million into early‑stage rounds, seeking minority positions (~10‑20%) in companies ready to scale, demonstrating product‑market fit and growth potential.

M&G Catalyst is a proprietary growth equity and impact investment strategy launched in January 2021 by M&G Investments, the FTSE 100-listed asset manager with over £340 billion in assets under management. Unlike a traditional externally raised closed-end fund, M&G Catalyst was initially seeded from M&G's own With Profits fund and proprietary balance sheet capital, with the firm committing approximately £5 billion to the strategy. The strategy was developed to allow M&G to deploy long-duration proprietary capital directly into private growth-stage companies globally, filling a gap between early-stage VC and traditional large-cap buyout that the firm identified in the UK and European innovation ecosystem. M&G Catalyst invests in private growth-stage companies globally across four thematic pillars: Planetary Health (clean energy, sustainable food, climate technology), Human Health (biotech, diagnostics, digital health), Access & Inclusion (financial services, emerging-market technology, financial inclusion), and Enabling Technologies (semiconductors, AI, space technology, biotech tools). Investments are typically Series B and later, targeting companies with validated business models and clear paths to commercial scale. The strategy operates with a global mandate encompassing the United States, United Kingdom, Europe, Africa, and Southeast Asia, with the team taking lead or co-lead positions in growth rounds. Since its January 2021 launch, M&G Catalyst has invested over £1 billion across 35+ portfolio companies spanning all four thematic pillars, including businesses in climate technology, renewable energy, biotech, AI-enabled healthcare, and financial inclusion in emerging markets. The strategy's portfolio spans 35+ companies with a growing track record of follow-on investments and company maturation. The Catalyst team's performance supported M&G's decision to open the strategy to external institutional investors through the M&G Catalyst Growth Equity Fund I, demonstrating the viability of the impact-first growth equity approach.

M&G Catalyst Growth Equity Fund I is the first externally marketed institutional vehicle through which third-party investors can co-invest alongside M&G Investments' Catalyst growth equity and impact strategy, which has been actively deploying proprietary capital since January 2021. Developed to open access to the proven Catalyst strategy for institutional investors including pension funds and sovereign wealth funds, the fund had secured commitments exceeding $850 million as of its announced close, including a £100 million commitment from the British Business Bank as part of the British Growth Partnership. The fund manager is M&G Investments, the FTSE 100-listed asset manager headquartered in London with over £340 billion in assets under management. M&G Catalyst Growth Equity Fund I invests in private growth-stage companies across four impact themes: Planetary Health (climate technology, clean energy, sustainable food), Human Health (biotech, diagnostics, digital therapeutics), Access & Inclusion (financial inclusion, emerging market technology), and Enabling Technologies (AI, semiconductors, space, biotech tools). Investments typically target Series B and later-stage companies with validated commercial models and measurable environmental or social outcomes. The fund operates with a global mandate with particular emphasis on the United Kingdom, Europe, and high-growth emerging markets, co-investing alongside M&G's proprietary Catalyst capital and benefiting from the deal flow infrastructure of the broader team. M&G Catalyst Growth Equity Fund I draws on the Catalyst strategy's portfolio of 35+ investments built since 2021, with over £1 billion deployed across areas including climate technology, life sciences, digital infrastructure, and financial inclusion. The Catalyst team has demonstrated the ability to lead and co-lead growth-stage rounds and support portfolio companies through successive financing events. British Business Bank participation through the British Growth Partnership adds an institutional validation layer reflecting the fund's alignment with UK innovation and impact policy objectives, and its potential to generate competitive risk-adjusted returns alongside measurable impact.

MFV Partners Fund II is the second flagship venture capital fund managed by MFV Partners, an early-stage deep technology investor founded in 2018 and based in Los Altos, California. MFV Partners was established to back visionary entrepreneurs building breakthrough solutions at the intersection of hardware, software, and advanced materials — specifically targeting companies where deep scientific and engineering innovation creates defensible, long-duration competitive advantages. The firm's distinctive "physical AI and deep tech for real-world industries" thesis distinguishes it from generalist software-focused venture funds, focusing instead on the physical technology stack that powers next-generation industrial transformation. Fund II continues the investment discipline established by MFV Partners Fund I, deploying early-stage capital into the firm's four core verticals. MFV Partners Fund II concentrates on four transformative sectors: Robotics and Physical AI (autonomous systems, humanoid robotics, sensor networks), Quantum and Next-Generation Computing (quantum processors, photonic interconnects, advanced semiconductors), Energy Transition (grid technology, clean power systems, energy storage materials), and Advanced Materials (novel composites, functional materials, nano-engineering). Portfolio companies predominantly operate in the automotive manufacturing, logistics and supply chain, precision agriculture, healthcare automation, and climate technology spaces — large industrial sectors where hardware-enabled innovation drives multi-billion-dollar market opportunities. MFV Partners' Silicon Valley location provides deep access to Stanford, Berkeley, and the broader Bay Area deep-tech entrepreneurial ecosystem, complemented by the firm's cooperation agreement with the University of Chicago through the Harper Court Ventures partnership, which commercializes the university's deep-tech research in quantum computing, AI, energy, and life sciences. Since its founding in 2018, MFV Partners has built a portfolio of pioneering deep-tech companies including PsiQuantum (quantum computing, 2019 investment), Agility Robotics (humanoid AI robotics), Chef Robotics (autonomous food preparation), and OpenInfer (AI inference infrastructure). These investments reflect the firm's track record of early-stage conviction in hardware-enabled technology platforms that require patient, technically sophisticated capital to develop to commercial scale. MFV Partners Fund II continues this discipline with investments such as CavilinQ (quantum photonic interconnects, Seed 2026), targeting the emerging quantum networking infrastructure layer that will underpin scalable quantum computing architectures.

MVI Fund III, managed by Stockholm-based MVI Advisors, achieved a final close at its SEK 2 billion hard cap in April 2025. The fund was oversubscribed after just five months of fundraising, reflecting strong investor confidence in MVI's strategy. This third fund represents an 84% increase in size compared to its predecessor, underscoring MVI's growth and the appeal of its investment approach. The fund attracted a diversified investor base, including returning LPs and new institutional investors from the EU and the U.S., such as Ingka Investment and Saga Private Equity. MVI Fund III continues the firm's focus on acquiring controlling stakes in founder-led, asset-light companies within the Nordic region, emphasizing sectors with strong buy-and-build potential. MVI Fund III has already made its first platform investment, establishing a Nordic environmental and sustainability platform through a partnership with Ametalis and the acquisitions of Envima, Westberg Vibrations- och Omgivningskontroll, and Natur og Samfunn. This investment aligns with MVI's thematic focus on sustainability and circular economy initiatives.

Macquarie Energy Transition Infrastructure Fund International (METI International) is an open-ended energy transition infrastructure investment vehicle managed by Macquarie Asset Management, structured as a Luxembourg S.C.A. SICAV-RAIF (Société d'Investissement à Capital Variable — Reserved Alternative Investment Fund) and domiciled in Luxembourg. The fund was launched in 2024, with initial assets transferred from Macquarie Asset Management's managed accounts into the vehicle between July and September 2024, and is available to professional and qualified investors across the European Economic Area, Australia, Hong Kong, Jersey, Singapore, Switzerland, and the United Kingdom, with a minimum investment of $125,000 or €100,000. METI International provides institutional and wholesale investors globally with regulated, structured access to Macquarie's energy transition infrastructure investment strategy through a Luxembourg-domiciled vehicle that offers monthly subscription windows and quarterly redemptions with 45 business days' notice. The fund deploys capital exclusively into private energy transition infrastructure investments, targeting assets at the intersection of energy decarbonisation and infrastructure delivery. Near-term investment focus centres on electricity decarbonisation: utility-scale and distributed renewable energy generation (solar photovoltaic, onshore wind, offshore wind, and hydroelectric); clean grid infrastructure including battery energy storage systems (BESS), pumped hydro storage, and grid-scale transmission upgrades; and distributed energy infrastructure including virtual power plants and smart grid technology. The fund's longer-term mandate anticipates expansion into transport decarbonisation (EV charging infrastructure, electric rail, hydrogen fuelling networks) and industrial decarbonisation (green hydrogen production, carbon capture facilities, industrial heat electrification). Macquarie targets a net return of 9–11% and a distribution yield of 4–5% for the fund, consistent with infrastructure risk-return parameters in the energy transition segment. Macquarie Asset Management manages the METI International fund as part of its broader energy transition and renewables platform, which encompasses approximately A$941 billion in total assets globally and positions Macquarie as both the world's largest infrastructure asset manager and one of the leading dedicated energy transition investors. The Australian-domiciled companion vehicle, Macquarie Energy Transition Infrastructure Fund (METI Australia), employs the same strategy for Australian wholesale investors, while METI International provides equivalent access for non-Australian institutional investors through a Luxembourg regulatory framework. The SICAV-RAIF structure complies with EU alternative investment fund regulations, providing investors with AIFMD-compliant governance, independent depositary arrangements, and standardised reporting. The fund's OECD-country focus offers investors exposure to stable regulatory environments while targeting assets at the forefront of energy system transformation in advanced economies.

Macquarie Green Energy and Climate Opportunities Fund (MGECO) is an opportunistic clean energy infrastructure investment vehicle managed by Macquarie Asset Management, the world's largest infrastructure asset manager. The fund focuses on acquiring and developing diversified portfolios of solar, wind, energy storage, and natural climate solutions (NCS) investments spanning development, construction, and operational stages across the Americas, Asia-Pacific, and Europe. With approximately $1.15 billion in committed capital raised at final close, MGECO operates as a flagship vehicle in Macquarie Asset Management's clean energy and energy transition investment platform, which supports over 90 gigawatts of renewable energy in development, 2 GW under construction, and 14 GW in operations globally. The fund is supported by institutional limited partners including UniSuper, LGPS Central, and Border to Coast Pensions Partnership, reflecting strong institutional appetite for Macquarie's ability to originate, develop, and operationalise clean energy assets at scale. MGECO's investment strategy targets the full risk-return spectrum of green energy opportunities: early-stage renewable energy development projects that offer higher potential returns but require longer gestation; construction-stage assets with defined off-take agreements and near-term cash generation; and operating assets that provide stable, long-duration income streams. The multi-stage approach allows MGECO to deploy capital opportunistically across energy market cycles and geographies, leveraging Macquarie Asset Management's vertically integrated capabilities in development, asset management, operations, and capital markets. Investment subsectors include utility-scale solar and wind, grid-scale battery energy storage systems (BESS), offshore wind development, and natural climate solutions including reforestation and avoided deforestation projects that generate verified carbon credits alongside infrastructure returns. Since its inception in 2018, MGECO has built a diversified portfolio that reflects Macquarie's positioning at the forefront of global energy transition finance. In 2024, the fund completed the acquisition of a six-company portfolio including US developer Galehead Development, Treaty Oak Clean Energy, Aula Energy, Blueleaf Energy (offshore wind development), Outer Dowsing (UK offshore wind), and Forliance (NCS), collectively representing over 17 gigawatts of green energy capacity across development, construction and operations. This portfolio acquisition, executed in partnership with Macquarie's broader clean energy platform, exemplifies MGECO's strategy of acquiring project pipelines at scale and applying Macquarie's operational expertise to advance them toward energy generation and commercial operation.

Magnesium Capital I focuses on profitable European companies with proven technologies or tech-enabled services that are positively impacting the decarbonisation of the production, distribution, and consumption of energy. The team has been backing the buyouts of such businesses for a number of years on a direct deal basis. Since inception, Magnesium has completed seven platform investments, signed six follow-on acquisitions, and exited two investments for 4.2x gross MOIC. The fund targets high-growth, profitable businesses in Europe and the UK that support the energy transition. It likes to partner with entrepreneurial management teams and support them on their next stage of growth. Magnesium looks for companies with competitive advantages in their core technology or tech-led service that have a positive impact on the way energy is produced, distributed, or consumed. The fund takes controlling stakes in each of its investments but considers significant minority positions in certain circumstances. The fund closed its inaugural Fund, Magnesium Capital I, at its hard cap of €135m, exceeding the €100m Fund target. The final close occurred less than a year after the Fund’s first close with Magnesium attracting blue-clip institutional investors from the US, Europe, and the UK. The combined impact of these portfolio companies already directly contributes to the avoidance of over 30 million tonnes of CO2 equivalent per annum, demonstrating their focus on impactful investments with positive environmental outcomes. The fund prefers investments ranging from €15 million to €50 million in companies with enterprise values of €25 million to €100 million.

Maniv's third and latest fund, known as Maniv III, continues to focus on an early-stage investment strategy in the intersection between mobility, transportation, and energy. The firm previously had a strong focus on Israeli startups but has now expanded its geographic focus and has active portfolio companies in nine countries. The $140 million fund reflects new goals, including a more diverse group of investors as well as the inclusion of financial investors who see the decarbonization and digitization of all forms of transportation as a trend that generates the best financial returns. The fund includes investors from diverse industries such as leasing, fintech, logistics, vehicle maintenance, energy, fleet management, and repair. Maniv's fund also reflects an evolving investment strategy as the firm is now investing in the broader climate tech world, particularly where it overlaps with transportation. The fund has made investments in companies involved in green hydrogen production, e-motorcycle battery swapping, and the use of post-consumer recycled plastic in manufacturing. Overall, Maniv's fund targets investments in startups and companies that are driving innovation and technological advancements in mobility, transportation, and energy across various sectors and geographies globally. Investors in the fund include BNP Paribas Personal Finance, the venture arms of Shell and Enterprise Mobility, Valeo, Jaguar Land Rover venture arm InMotion Ventures, Toyota Motor Corp.’s Woven Capital, vehicle leasing company Arval, transportation infrastructure giant Ferrovial, the industrial manufacturing firm ITT Inc., fleet payments business WEX and an unnamed European insurance company.

Marunouchi Climate Tech Growth Fund L.P. is a $744 million growth equity fund managed by Marunouchi Innovation Partners Co., Ltd., a Tokyo-based investment firm affiliated with Mitsubishi Corporation. The fund achieved its final close on January 28, 2025, and represents one of Asia's largest dedicated climate technology investment vehicles. Originally launched in May 2023 with a target of approximately $1 billion, the fund attracted commitments from a range of industrial and financial institutions in Japan and abroad, demonstrating strong institutional appetite for climate-focused growth equity strategies anchored in Japan's industrial economy. The fund focuses on growth-stage companies advancing decarbonization through climate technology innovations, combining private equity discipline with deep operational and business-building support. Marunouchi Innovation Partners targets companies with demonstrated product-market fit and scalable technology platforms, seeking to accelerate their expansion by leveraging Mitsubishi Corporation's extensive global partner ecosystem across energy, materials, transportation, and industrial infrastructure. Investment themes encompass renewable energy systems, smart grid management, electrification of transport and industry, sustainable materials and chemicals, carbon management technologies, and climate adaptation infrastructure—areas where Mitsubishi's industrial relationships provide portfolio companies with a strategic advantage in piloting technologies and accessing distribution channels unavailable to pure financial investors. Positioning itself as the capital bridge between global climate tech innovation and Japan's industrial decarbonization imperative, Marunouchi Climate Tech Growth Fund operates globally with particular emphasis on companies capable of integrating into Japanese corporate supply chains and energy systems. The fund's completion of a $744 million close in January 2025—amid a challenging fundraising environment—reflects the conviction of institutional LPs in the long-term thesis that climate technology will be a defining growth driver of the next industrial cycle, and that Japan's major corporates will be both customers and partners in this transition.

The Meridiam Green Impact Growth Fund (GIGF) is a EUR 300 million private equity growth fund dedicated to financing European small and medium-sized enterprises driving the transition to a low-carbon, sustainable economy. Classified as SFDR Article 9, the highest sustainability designation under European regulation, the fund was launched by Meridiam SAS, a global infrastructure and impact investment firm headquartered in Paris with over EUR 20 billion in assets under management across more than 100 projects in over 25 countries. The fund's investment mandate focuses on four sustainability themes: energy transition covering clean energy production, storage, and efficiency; clean mobility including electric vehicles, shared transport, and logistics decarbonization; circular economy encompassing waste reduction, material recovery, and sustainable packaging; and sustainable cities addressing smart urban systems, low-carbon real estate, and digital public services. Unlike Meridiam's traditional infrastructure funds, which target long-duration public infrastructure concessions, GIGF pursues growth equity investments in SMEs with proven business models that require capital to scale their sustainable technologies and services across Europe. The European Investment Bank committed EUR 75 million to the fund as anchor investor, validating GIGF's alignment with EU climate finance objectives. The fund has made six investments since its 2021 vintage year, deploying capital across companies operating at the intersection of sustainability innovation and commercial scalability. GIGF represents Meridiam's strategic expansion from infrastructure project finance into growth-stage impact investing, leveraging the firm's deep expertise in sustainable asset development.

The Climate Fund for Nature is an impact investment fund managed by the Natural Capital team of Mirova, a subsidiary of Natixis Investment Managers dedicated entirely to sustainable investing. The fund was initiated by Kering and L'Occitane Group, announced in December 2022 at COP15 — the UN Convention on Biological Diversity — in Montréal, and began operations in the first quarter of 2023. It is structured as a French alternative investment fund (société par actions simplifiée à capital variable) targeting €300 million in total commitments from corporate investors across sectors including luxury goods, beauty, services, agri-food, and communications. The fund's strategy focuses on financing high-quality nature-based solutions projects dedicated to protecting and restoring nature in emerging markets, and supporting farmers in transitioning to regenerative agriculture. Investment activities span afforestation, reforestation, mangrove restoration, natural regeneration, agroforestry, and conservation of key natural ecosystems in Latin America, Africa, and Southeast Asia. Projects generate verified carbon credits (VCUs) and biodiversity co-benefits for local communities, with a distinctive emphasis on women's economic independence developed in collaboration with the 2X Collaborative. The fund held its first close in February 2023, anchored by founding corporate investors Kering and L'Occitane Group with a combined commitment of approximately €140 million. A second close was reached in March 2024 at €195 million (approximately USD $213 million), with new investors Capgemini, Unibail-Rodamco-Westfield, and Groupe Mane joining the coalition. The €300 million target remains open to additional corporate partners. Unlike traditional PE funds, all LPs are corporate strategic investors — companies seeking to meet nature-related sustainability commitments through direct investment in verified conservation and restoration projects.

Mirova Environment Acceleration Capital (MEAC) is an impact-oriented private equity fund managed by Mirova, the responsible investment affiliate of Natixis Investment Managers based in Paris. Launched in 2021 with a target of €300 million, MEAC completed its final closing in September 2024 after raising €211 million in commitments from institutional and private client investors across Europe, with approximately 30 percent of commitments sourced from private wealth channels drawn to the fund's multi-thematic environmental approach. The fund is registered as a European Long-Term Investment Fund (ELTIF), enabling eligible retail and institutional investors across EU jurisdictions to access a private equity impact strategy aligned with nine UN Sustainable Development Goals. MEAC targets growth-stage European and North American companies building innovative solutions to critical environmental challenges, deploying investment tickets ranging from €5 million to €30 million per transaction and focusing on companies with enterprise values between €20 million and €400 million. The fund employs a flexible private equity approach that includes minority stakes, majority acquisitions, co-investments, and secondary market transactions, enabling engagement at multiple phases of a company's development cycle. Investment is organized across five environmental pillars: clean energy, circular economy, natural resource management, agri-food technology, and smart cities and energy efficiency — sectors where Mirova's team has built deep domain expertise over more than a decade of responsible and impact investing. By the time of the September 2024 final close, MEAC had invested more than €80 million across ten portfolio companies in Europe and North America, demonstrating the viability of combining commercial growth with measurable environmental impact. The fund was recognized as Fund of the Year – Private Equity at the Environmental Finance Impact Awards in 2023. Portfolio company OpenAirlines, an aviation fuel optimization platform, received investment in November 2024, adding to a portfolio of European businesses accelerating the environmental transition in energy, food systems, circular materials, and smart urban infrastructure.

MMC Innovation Fund is a corporate venture capital vehicle co-established in 2019 by Mitsubishi Materials Corporation (MMC) and JMTC Capital. One of Japan's leading diversified industrials companies, Mitsubishi Materials operates globally across copper products, electronic materials, superhard tools, and cement. The fund bridges MMC's century-long industrial expertise with the innovation economy, targeting materials-focused technology companies that can accelerate the firm's strategic transformation and sustainability agenda. The fund targets early- to growth-stage companies developing advanced materials solutions, next-generation manufacturing processes, and enabling clean technologies. Core investment themes include novel battery and energy storage materials, perovskite and thin-film solar technologies, industrial process innovation, and sustainable specialty chemicals. Portfolio companies benefit from MMC's capital alongside its scientific and engineering knowledge, global manufacturing infrastructure, and established customer relationships across electronics, automotive, and clean energy end markets. Since 2023, a strategic partnership with Pegasus Tech Ventures has broadened MMC Innovation Fund's global deal sourcing pipeline across North America, Europe, and Asia Pacific, extending the fund's reach beyond Japan's domestic startup ecosystem. MMC Innovation Fund has completed four investments since its 2019 launch. Its most notable publicly disclosed commitment is a Series B participation in Enecoat Technologies, a Japanese developer of next-generation perovskite solar cell materials targeting high-efficiency photovoltaics. The fund continues to evaluate co-investment opportunities alongside the Pegasus Tech Ventures global network and MMC's in-house research centers.

Miura Impact Fund is the inaugural impact investment vehicle of Miura Partners, the Barcelona-based private equity firm founded in 2008 that manages over €1.5 billion across five primary funds. Launched in 2022 and reaching final close in October 2024 at €135 million, the fund represents Miura Partners' first vehicle fully dedicated to impact investing in high-growth small and mid-cap companies on the Iberian Peninsula. The fund deploys €5 million to €15 million equity tickets into companies that provide measurable solutions to three core impact themes: Healthier Lives (encompassing innovative healthcare, accessible nutrition, and well-being), Thriving Communities (including quality employment, education technology, and digital inclusion), and Regenerative Planet (spanning clean energy, circular economy, and next-generation sustainable agriculture). Each investment opportunity is evaluated against the UN Sustainable Development Goals (SDGs) and leading impact frameworks including GIIN, IRIS+, and IMP. The fund structure links carried interest directly to the achievement of both financial returns and specific impact targets for each portfolio company, embedding accountability into the fund's incentive structure. Miura Impact Fund has completed four investments since inception. Portfolio companies include Tierra, a Spanish leader in the creation and maintenance of sustainable green spaces; Wikiloc, the leading outdoor navigation software and global community platform for outdoor activities; GasN2, a producer of energy-efficient onsite industrial gases; and Bianna, a multinational provider of technologies for waste treatment and waste-to-energy solutions. The fund typically holds investments for 3–6 years, consistent with Miura Partners' approach across its broader fund family, which has completed over 70 transactions since 2008.

1GT is a climate-focused private equity fund managed by Morgan Stanley Investment Management (MSIM), one of the world's leading alternative investment managers with over $240 billion in alternative assets under management. Launched in 2022 under MSIM's alternatives platform, 1GT takes its name from its defining mission: to collectively avoid or remove one gigaton of carbon dioxide-equivalent (CO2e) emissions from the Earth's atmosphere from the date of investment through 2050. The fund held its first close in May 2023 at $500 million and reached a final close in September 2024 at $750 million in equity capital commitments, drawing institutional support from leading investors in Europe, Japan and North America. 1GT targets growth-oriented investments in private companies across North America and Europe that operate in five climate-critical sectors: clean mobility, power, sustainable food and agriculture, and the circular economy. The fund is structured as a growth equity vehicle, partnering with expansion-stage companies at the point where meaningful scale can deliver both outsized emissions impact and superior financial returns. A unique feature of 1GT's incentive structure is that half of the investment team's carried interest is directly tied to achieving the one-gigaton carbon-reduction target by 2050, aligning the team's compensation with climate outcomes rather than financial performance alone. MSIM leverages its global platform and corporate relationships to support portfolio companies in pursuing earnings growth, multiple expansion, and enhanced exit potential. Since launch, 1GT has deployed capital across a growing portfolio of climate-positive businesses. Notable investments include Instagrid, a German manufacturer of high-performance portable battery systems enabling the electrification of construction worksites; Huel, the UK-based sustainable nutrition brand producing complete foods with a significantly lower carbon footprint than conventional diets; and Everstream Analytics, a supply chain intelligence platform that helps multinational corporations reduce emissions through optimized routing and responsible sourcing. These investments demonstrate 1GT's core thesis: that disciplined financial underwriting and measurable climate impact are mutually reinforcing objectives that, when properly structured, produce superior risk-adjusted returns.

Counterpoint Global is an investment team and strategy within Morgan Stanley Investment Management (MSIM) that pursues long-term capital appreciation by investing in both public and private equities globally. The strategy was established in 2018 under the leadership of Dennis Lynch, Head of the Counterpoint Global team at MSIM, supported by portfolio managers including Kristian Heugh. With approximately $100 billion in AUM across all Counterpoint Global strategies as of recent reports, the team is one of the largest growth equity investment platforms in the world. Counterpoint Global's public equity strategies include the Counterpoint Global Portfolio (mutual fund) and institutional mandates across U.S., global, and international equity. The team also makes direct investments in private companies alongside its public market activity. Counterpoint Global's investment approach is a bottom-up, fundamental, conviction-based growth equity strategy. The team seeks companies with durable competitive advantages, strong brand recognition, high reinvestment opportunities, above-average business visibility, strong balance sheets, and the ability to deploy capital at high rates of return. The strategy is highly concentrated and benchmark-agnostic, investing across the full market capitalization spectrum. ESG factors are actively integrated into the investment process, with the team seeking to understand how sustainability initiatives create and protect value over time. Private company co-investments are made selectively in companies that exhibit the same quality characteristics sought in public markets. Notable private investments made by the Counterpoint Global team include stakes in PsiQuantum, Infleqtion, and Commonwealth Fusion Systems, reflecting a thematic focus on deep technology, quantum computing, and clean energy. The team provides investment services to clients globally, including through the Morgan Stanley Institutional Fund series and international SICAV equivalents. Counterpoint Global encompasses multiple vehicles including mutual funds, separately managed accounts, and private co-investment vehicles; the AUM figure of approximately $100 billion reflects the aggregate across all public and private strategies managed by the team.

Mundi Ventures LatAm Fund I is a $100 million venture capital fund dedicated to the next generation of technology-driven companies expanding access to financial and health protection across Latin America and the Caribbean. Managed by Mundi Ventures, a Madrid-headquartered venture capital firm with more than €1.5 billion in assets under management globally, the fund announced its first close in March 2026, anchored by IDB Invest—the private sector investment arm of the Inter-American Development Bank—and COFIDES, Spain's development finance institution, alongside leading regional insurance groups. The strong institutional backing from multilateral development finance reflects confidence in both the fund's financial returns potential and its development impact mandate across the region. Mundi Ventures LatAm Fund I targets early-growth-stage companies from post-Seed to Series B in fintech, insurtech, healthtech, climate technology, and adjacent sectors. The fund plans to deploy approximately $5 million per investment into 12 to 15 portfolio companies across Brazil, Mexico, Colombia, Chile, and Argentina, focusing on businesses with proven product-market fit and annual revenues between $1 million and $3 million. The investment thesis centres on AI-first and deep tech companies building proprietary infrastructure, data-driven underwriting platforms, intelligent risk models, and next-generation embedded distribution channels that can dramatically improve financial inclusion and health protection penetration in a region where insurance penetration and formal financial access significantly lag global benchmarks. The fund is led by General Partner Moises Sanchez and Partner Rafaela Andrade, who bring deep expertise in LatAm insurance ecosystems and technology-driven financial services. Mundi Ventures has already established a nucleus of category-leading portfolio companies through the fund, including Raincoat (parametric insurance platform, Puerto Rico), Sami (digital health insurance platform, Brazil), Betterfly (employee benefits and insurance platform), and Ole Life (digital life insurance), demonstrating the firm's ability to identify and back founders building transformative insurance and fintech businesses across the region. Mundi Ventures LatAm Fund I positions institutional investors for exposure to Latin America's rapidly evolving digital economy through a fund with demonstrable multilateral development finance validation.

NPIF – Mercia Equity Finance is a government-backed venture capital fund managed by Mercia Asset Management, operating through its subsidiary Mercia Fund Management, as part of the Northern Powerhouse Investment Fund (NPIF). The NPIF was a landmark £400 million initiative launched in February 2017 by the British Business Bank with co-funding from the European Investment Bank and the European Regional Development Fund. The fund was established specifically to address the persistent underfunding of innovative SMEs across Yorkshire, Humber, and Tees Valley — regions that have historically received a disproportionately low share of UK venture capital compared to London and the South East of England. The fund deploys equity investments ranging from £100,000 to £2 million into early-stage and growth-stage businesses across a broad range of sectors, with particular strength in technology, artificial intelligence, clean energy, healthcare innovation, and advanced manufacturing. Mercia brings a nationwide network of regional offices and specialist investment teams, offering portfolio companies not only capital but active hands-on strategic support, co-investment introductions, and access to Mercia's broader fund ecosystem. The investment strategy deliberately targets companies with growth trajectories that cannot be sustained through traditional debt financing alone, making the fund a critical enabler for ambitious Northern founders seeking long-term equity partners. Since its inception in 2017, NPIF – Mercia Equity Finance has deployed over £71 million across more than 67 businesses in Yorkshire, Humber, and Tees Valley, supporting the creation of over 600 direct jobs in the region. Portfolio highlights include Faradion, a sodium-ion battery technology company sold for approximately £100 million to Reliance Industries, and GI UK, acquired by a Dutch multinational. Backed by the European Investment Bank, the European Regional Development Fund, and HM Government, the fund has catalysed substantial private co-investment alongside its public funding commitments, helping to build a more vibrant and sustainable venture capital ecosystem across the North of England.

Neva II is a multi-stage global venture capital fund launched in September 2024 by Neva SGR, the venture capital subsidiary of Intesa Sanpaolo Group — one of Europe's largest banking groups and Italy's leading retail and corporate bank with over EUR 1 trillion in total assets. Targeting EUR 400 million in commitments, Neva II is the second-generation flagship global vehicle managed by Neva SGR following the firm's inaugural generation of funds. As of the September 2024 launch, EUR 187 million had already been raised and invested across five diversified portfolio companies. Neva II is managed under the Italian SGR (Societa di Gestione del Risparmio) regulatory framework and is open to qualified institutional investors globally. Neva II invests across the full early-growth venture spectrum — from seed through Series C — in technology-driven companies addressing global challenges across five priority sectors: life sciences and healthcare innovation (particularly oncology and autoimmune disease therapeutics, digital health); energy transition and cleantech; digital transformation and enterprise software; next-generation manufacturing and materials; and aerospace. The fund's investment selection requires portfolio companies to demonstrate clear pathways to solving global problems with a focus on sustainability, ESG integration, and circular economy alignment. The geographical scope is global, with particular attention to European and North American innovation ecosystems where Neva SGR has established sourcing relationships. The backing of Intesa Sanpaolo provides portfolio companies with access to a major European bank's corporate network, lending capabilities, and strategic partnerships across Italian and international enterprise markets. Neva SGR was established in 2020 as Intesa Sanpaolo's dedicated venture capital arm, building an investment platform designed to bridge between global technology innovation and the strategic needs of one of Europe's largest financial institutions. Neva II is the companion fund to Neva II Italia (EUR 100 million target), which specifically targets Italian-headquartered startups with a PIR-compliant structure. Together, the two Neva II funds represent a EUR 500 million combined investment platform — doubling the capacity of the predecessor generation. This scaling reflects both the maturation of Neva SGR's team and network after four years of active investment, and Intesa Sanpaolo's commitment to positioning its banking group at the intersection of European and global innovation ecosystems.

Neva II Italia is a PIR-compliant (Piano Individuale di Risparmio) Italian venture capital fund launched in September 2024 by Neva SGR, the venture capital subsidiary of Intesa Sanpaolo Group. Targeting EUR 100 million in commitments, Neva II Italia is structured as a closed-end Italian-law alternative investment fund under the SGR management framework, qualifying under PIR Alternative regulations that provide significant tax advantages to Italian pension funds (casse previdenziali), insurance companies, and institutional retail investors seeking venture capital exposure. As of its September 2024 launch, the fund had already raised over EUR 42 million and completed five investments in promising Italian companies. Neva II Italia invests exclusively in Italian-headquartered or Italian-founded companies at the early-to-growth stage — from seed through Series B — across five priority sectors aligned with the broader Neva SGR investment thesis: life sciences and healthcare innovation (oncology, autoimmune disease, digital health); energy transition and cleantech; deep tech and next-generation manufacturing; digital transformation and enterprise software; and aerospace. The Italian focus differentiates Neva II Italia from its companion fund Neva II (EUR 400 million, global mandate), which invests across international ecosystems. By anchoring on Italian companies, Neva II Italia gives domestic institutional investors a dedicated vehicle to access the Italian startup ecosystem with the full support network of Intesa Sanpaolo Group — Italy's largest domestic bank, with extensive relationships across Italian corporations, SMEs, family offices, and institutional investors. Neva II Italia complements the broader Neva II twin-fund platform, which together targets EUR 500 million in combined capacity — double the investment envelope of the predecessor Neva SGR fund generation. This scaling represents both Neva SGR's maturation as an Italian venture capital institution after four years of deployment, and Intesa Sanpaolo Group's strategic commitment to cultivating a domestic venture capital ecosystem that keeps innovative Italian companies within the Italian institutional investor sphere rather than ceding early ownership to foreign VC firms. The PIR Alternative structure of Neva II Italia has attracted particular interest from Italian pension and social security funds, which historically have been underallocated to the domestic VC asset class relative to peer European institutional markets.

About Norrsken EvolveNorrsken Evolve is a Stockholm-based venture capital fund with €57 million under management, dedicated to backing Europe's next generation of impact-driven technology companies. Launched in August 2025 as the evolution of the Norrsken Accelerator—which since 2021 has supported 80 companies—the fund invests at the pre-seed stage with initial checks of €250,000 per company, complemented by long-term follow-on capital for top-performing portfolio companies. The fund is led by General Partners Johan Attby, Alex Bakir, and Rebecka Löthman Rydå, who combine deep operational experience with a shared conviction that the most impactful technology companies can also be Europe’s most commercially durable ones. The oversubscribed fund attracted institutional LPs including the European Investment Fund, Saminvest, and SmartCap Green Fund, alongside leading tech founders and family offices including Skaala, the investment vehicle of Taavet Hinrikus and Sten Tamkivi.Norrsken Evolve targets founders building transformative solutions at the intersection of sustainability, resilience, and scalability, with a particular focus on sectors including biotechnology, renewable energy, logistics, construction, food technology, healthcare, information security, and climate resilience. The fund invests broadly across Europe, with an expanding presence in emerging tech hubs such as Tallinn, Estonia through a partnership with Kasvuhoone. Each cohort receives intensive founder support through the Norrsken Evolve program, combining capital with hands-on operational guidance, structured mentorship, and access to a global network of follow-on investors. By investing at the pre-seed stage and targeting overlooked geographies and founder profiles, Norrsken Evolve aims to surface and support Europe’s most promising impact founders before mainstream capital reaches them.Building on the Norrsken Accelerator’s track record—where 75% of supported companies went on to secure follow-on funding from top global investors—Norrsken Evolve represents the next chapter of Norrsken’s mission to prove that purpose and profit are fully compatible. The fund targets a portfolio of 20 to 30 companies per year, with the ambition of creating durable category leaders that address the most pressing challenges in European resilience, sustainability, and technological sovereignty. Norrsken Evolve’s combination of structured founder programming, institutional LP support, and a clear impact mandate positions it as one of Europe’s most distinctive pre-seed platforms for the next generation of resilient tech companies.

OPC Opportunity Fund I LP is a follow-on and opportunistic investment vehicle managed by Oval Park Capital LLC, a Raleigh, North Carolina-based venture capital firm founded in 2018 by Justin Wright-Eakes, a Durham native who spent eight years at New York City hedge funds before returning to build a technology-focused investment platform in the US Southeast. The fund was structured as a complement to Oval Park Capital's flagship vehicle, OPC Venture Fund I (closed at $20.5 million in 2021), enabling the firm to pursue follow-on investments in its strongest existing portfolio companies at the Series A and Series B stages while also selectively backing new breakthrough physical technology companies solving mission-critical global challenges. OPC Opportunity Fund I held its first sale on December 7, 2023, with a target of $20 million registered in Delaware, and had raised approximately $9.66 million from 22 investors as of January 2025 per SEC Form D filings. The fund's sector focus spans deep technology and hardtech verticals including advanced manufacturing, climate technology, industrial artificial intelligence, healthcare data infrastructure, robotics, energy systems, agriculture technology, water technology, and construction technology. Geographically, Oval Park Capital deliberately targets the Southeast United States, Midwest, and Mid-Atlantic regions — ecosystems that historically attract less venture capital than coastal hubs yet harbor significant engineering talent, major research universities, and industrial heritage that supports hardware and deep tech company formation. Oval Park Capital manages a second fund, OPC Venture Fund II, which was in preparation for launch in 2026, building on the combined platform's mission to deploy capital into North American deep tech and hardtech companies across underserved innovation ecosystems.