London-based Generation Investment Management, chaired by former U.S. Vice President Al Gore, has closed its Climate Solutions Fund after raising $683 million from the firm’s existing investor base.
The cross-over fund will invest in public and private companies in five areas: renewable energy technologies, building efficiency, cleaner fossil energy, sustainable agriculture and carbon markets.
David Blood, managing partner, Generation, said, "Generation believes that sustainable development that addresses the climate crisis will be a significant driver of industrial and economic development over the coming decades. However, there is clearly a significant gap between the capital needed and the capital currently deployed to create enduring solutions to the climate crisis. As a result, investing in scalable solutions now is critical and our Climate Solutions Fund intends to do just that."
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