BOARDROOM
Dutch Government funds €80mn growth fund for circular firm
The Dutch government fund Invest-NL is one of several contributors to an €80mn investment round for BioBTX, a Netherlands-based company that turns plastic waste and biomass into aromatics, the firm has announced. Aromatics are a group of chemicals currently derived from petroleum and used in everything from PET bottles to insulation. BioBTX plans to use the fund to build its first factory in Delfzijl, which will process up to 50,000 tonnes of plastic waste annually from 2026. Eventually, the firm plans to use a licensing model to go global, contracting its machinery to third parties in various national markets – and has already received buyers for more than 50% of the product in this first factory.
EIB invests €25mn to support African entrepreneurship
The investment into Amethis’ pan-African fund will support mid-sized companies supplying goods and services to the continent’s growing low-and-middle income population. Amethis currently manages almost €1.2bn of investment across 30 African companies in healthcare, infrastructure, energy and retail. This latest fund has been aligned with the EU’s Global Gateway strategy, investing across Africa with a focus on using 20% of its carried interest to impact targets that include carbon-efficiency, gender equality and employee health coverage. EIB Vice-President Thomas Östros explained the importance of the partnership’s “potential and untapped opportunities,” currently hampered by a lack of available capital to African entrepreneurs.
Yola Fresh from Morocco raises $7mn for farm to retailer tech
Moroccan agritech company Yola Fresh has secured a $7mn pre-Series A funding round to build a fresh food supply network. The technology Yola plans to scale will connect smallholder farmers to retailers, to ensure that farmers are paid more for food, while customers and retailers pay less, and food spoilage is reduced.
Giant $6.7bn fund for energy transition infrastructure buyout
Energy Capital Partners has exceeded a $4bn target for its fifth flagship equity strategy, ECP V. The fund includes $4.4 billion of capital commitments and $2.3 billion of co-investment capital. The US-based private equity fund invests in energy transition and decarbonization technology and infrastructure, including power generation, renewables and storage. Speaking to ESG Today, MD Emily Zovko said: “The successful final close of ECP V represents a milestone for our firm and demonstrates the strong support and confidence from our LPs around the world.”