The Swedish impact investor’s inaugural venture fund was backed by European institutional investors and will back companies developing solutions to address future health and environmental challenges.
LUMO Labs is planning to support tech companies that make a positive contribution to society in areas including social care, education, climate and sustainable living.
The fund will provide unitranche funding to French and European SMEs, while encouraging the companies they finance to take account of environmental and social concerns.
State-owned commercial company COFIDES will manage the fund, which will finance and invest into businesses and projects addressing social challenges across Spain.
Seaya’s founder Beatriz González is optimistic about prospects for the sector, despite the current tough investment environment and political uncertainties surrounding the pace of the energy transition.
The new fund is focused on emerging markets and made its first two investments into social enterprise One Acre Fund and into a blue bond issued by the International Bank of Ecuador.
Impact Expansion has raised €150m for Impact Expansion Fund I and announced the fund’s first investment in Belgium into sustainable energy solutions provider BeliVert.
The funding will support the growth of Swiss-based carbon removal developer Neustark which has developed a technology aimed at decarbonising the construction industry.
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