Future Of British Business
Lightrock Raises €860 Million for First Climate Impact Fund
- LGT Group, Grantham Foundation among investors in new fund
- Fund will target companies that aim to reduce carbon emissions
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Lightrock, the London-based private equity firm, has closed a €860 million ($835 million) climate impact fund, its first investment pool for companies working to reduce carbon emissions.
The initial €600 million hard cap was oversubscribed after getting demand from backers, including anchor investor LGT Group and its private banking clients, Swedish pension fund Forsta AP-Fonden and the Grantham Foundation, the firm said in a statement. Lightrock’s climate fund will back later-stage startups in Europe and North America.