Former US Vice President Al Gore’s Generation Investment Management has launched a $ 1.7bn (£ 1.3bn) fund to invest in private sustainability companies.
The Generation IV Fund is the largest fund to date and the firm will seek to invest between $ 50m and $ 150m in “high growth” businesses.
Specifically, it is investing in sustainable and environmental, social and governance (ESG) companies. Founded in 2004, Generation Investment Management manages over $ 36bn in assets.
Collectively, the three previous Generation funds have invested over $ 2bn since 2008 in companies such as AlayaCare, Asana, Back Market, Benevity, Convoy, Gusto, Pivot Bio and Toast.
“We have been researching the changes needed for a sustainable future and investing in leading companies that have been driving that transition for over 15 years,” said Lila Preston, growth equity leader, Generation Investment Management.
Fund IV will continue Generation’s investment in planetary health, human health and financial inclusion.
“Our view of the systems level helps us identify industries, companies and entrepreneurs who can scale sustainable solutions globally,” Preston said.
Prospective investment firms evaluate their “System Positive” contribution by measuring the effects of a business model on people and the planet.
Generation has offices in London and San Francisco. He has previously invested in Octopus Energy UK, a clean energy supplier, and Ocado Group, an online grocery company.
“When companies and entrepreneurs work with Generation, they not only get a single point of contact. They gain access to our staff, an expanded network and a continuum of capital over private and public equity to help them scale and change, and to deliver system-positive change for future generations, ”said David Blood, partner senior, Generation Investment Management.
Earlier this year there was a co-investor of sustainability VC climate launched to invest in start – ups focused on climate change and carbon emissions.
A recent report found that climate technology is the Europe’s fastest growing vertical.
Al Gore Generation Investment Management launches £ 1.3bn fund
Source link Al Gore Generation Investment Management launches £ 1.3bn fund