General Atlantic Closes Funding for Climate Solutions Fund - Diversified Communications

GHG Emissions, Finance, Sourcing Renewables  -  December 21, 2022

General Atlantic Closes Funding for Climate Solutions Fund

General Atlantic, a global growth equity firm, announced the final close of its inaugural BeyondNetZero fund. 

Since the close of the fund, General Atlantic has a total of approximately $3.5 billion in capital to invest in climate solutions.

BeyondNetZero’s first fund includes investors,, including several strategic investors, sovereign wealth funds, family offices, multinational corporations and global institutional investors. The BeyondNetZero fund is structured as a companion fund investing in climate growth equity companies alongside General Atlantic’s core global growth equity program. General Atlantic’s core program will generally contribute 25% of capital to each climate investment that meets this mandate.

“We believe strongly in the power of technology to accelerate the transition to net zero,” said Bill Ford, Chairman and Chief Executive Officer of General Atlantic in a statement. “We look forward to supporting passionate entrepreneurs who are delivering innovative climate solutions while creating durable growth businesses.”

General Atlantic launched BeyondNetZero in July 2021 as the firm’s dedicated climate investment effort, designed to capture the rapidly growing opportunity for growth equity in the climate space. 

Since the fund’s launch, BeyondNetZero has deployed $826 million in five companies with the technological, engineering and operational capabilities by helping their customers whether they’re individuals, small businesses or multinational corporations  to reduce their emissions. These investments include: 80 Acres Farms, a sustainable vertical farming company, RoadRunner Recycling, a technology-enabled marketplace for commercial recycling and waste removal, o9 Solutions, a SaaS provider that helps companies streamline their supply chains, improving efficiencies and reducing carbon footprints across industry verticals, Sun King, the largest provider of solar energy products for off-grid homes in Africa and Asia and EcoVadis, a provider of globally trusted business sustainability ratings.

 


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