BOARDROOM
Blue Revolution Fund raises €93mn for sustainable aquaculture
Hatch Blue, an Irish venture capital firm with a focus on the blue economy, beat a €75mn target for its Blue Revolution Fund. Backed by the European Investment Fund (EIF) and the Irish Strategic Investment Fund (ISIF), it aims to help restore marine ecosystems and implement more sustainable practices in commercial seafood production. It will invest in next-generation fish farms, regenerative seaweed and bivalve farming, seafood alternatives, among other forms of sustainable aquaculture tech, as reported by Impact Investor. Its goals align with the EU’s Green Deal, which aims to transform the EU into a “modern, resource-efficient and competitive economy”.
Finfra gets $2.5mn to help Indonesian companies offer accessible credit solutions
Finfra is an Indonesian startup helping e-commerce, agriculture and logistics companies offer lending services to their customers. The services, which include onboarding, assessing credit and processing loan applications, will allow small businesses and consumers to access credit which may otherwise be unavailable to them. The funding round was led by Singaporean VC Cento Ventures and included other VCs like Accion Venture Lab and Z Venture Capital.
Norwegian PE firm’s climate impact fund closes at €700mn
Verdane’s climate impact fund, Idun II, has reached a €700mn hard cap after five months of fundraising. The fund, which is more than twice the size of its predecessor Idun I, will focus on decarbonisation solutions for the energy transition, and resource efficiency. Among Idun II’s investors are the Norwegian state’s climate investment fund, the Banque de Luxembourg, and the European Investment Fund. The fund will target a 25% internal rate of return and 3x invested capital and aim for 5,000 tonnes of CO2 avoided per €1mn invested.
Aviva Investors launches carbon removal fund
Aviva Investors, a global asset manager, has unveiled a Carbon Removal Fund (CRF), offering opportunities for institutional investors to finance nature-based and engineered carbon-removal solutions. Solutions include afforestation and restoration projects for peatlands and mangroves and technology to make commercial forestry more sustainable. Aviva has committed to working directly with conservation groups, NGOs, and specialist land managers. The fund will prioritise solutions offering co-benefits like employment, water quality and biodiversity enhancement.
