The global asset management company’s fund will focus on innovative technologies in the areas of clean energy, circular economy, natural resources, agritech and smart cities.
Mirova, an affiliate of Natixis Investment Managers, has closed its first impact private equity fund after raising €211m.
Thirty percent of the funds came from private clients “attracted by the multi-thematic approach of this SFDR Article 9 fund”, Mirova said. The new fund, the Mirova Environment Acceleration Capital fund, focuses on clean energy, circular economy, natural resources, agritech and smart cities, and has already invested over €80m in 10 European and North American companies. It has also completed one exit.
“We remain convinced that positive impact and profitability go hand in hand, particularly when it comes to companies that are driven by fundamental trends designed to meet specific sustainable development objectives”, said Marc Romano, head of impact private equity at Mirova.
First exit
Portfolio companies include virtual power plant operator Gridbeyond and Ombrea, a French startup specialised in crop management and climate hazards which was sold to Total Energies last year for an undisclosed sum.
As reported by Impact Investor in 2022, the Mirova fund has also invested in Naϊo Technologies, a French agricultural robotics firm that is trying to reduce agricultural labour shortages, soil erosion and herbicide use and lower the CO2 emissions associated with farming.
Mirova, which had €31.1bn assets under management as of June of this year, was able to raise the funds despite what it called “the current challenging fundraising environment”.
Earlier this year Mirova announced the launch of its second impact fund, this time dedicated to social impact, investing in unlisted European companies that contribute to the transition towards a better society.
