Theia Ventures in Bangalore is an early stage climate tech VC firm that invests in new technologies for hard-to-abate sectors like transportation, industry and materials. Founder Priya Shah started the firm to direct her family’s wealth toward solutions to the climate crisis. The firm has since secured backing from other family offices in India and institutional investors toward its $25 million goal.
“They’re excited to have a window into technologies that can be applied to and utilized by their industries,” Shah told ImpactAlpha.
The strategy is among the new additions to ImpactAlpha’s Liist, a searchable database of impact fund managers and investment strategies.
Also new to the Liist:
Copenhagen-based Nordic Impact Funds is a women-led impact fund manager focused on underserved communities in Africa. Its Nordic Impact Evergreen fund invests in East Africa’s small business sector, focusing on agri-businesses that are supporting climate resilience and adaptation for farmers, women, refugees, and low-income and rural populations.
Nordic Impact Funds has raised $7 million from Nordic high net-worth individuals and family offices; the fund is also open to larger institutional investors and development finance institutions.
The fund manager has built in regular liquidity windows to allow investors to enter and exit the fund.
Community impact
Capital for Change has for more than 30 years invested in local businesses and low-wealth individuals and communities in Connecticut. One of the tools used by the community development financial institution is a loan fund that provides flexible, low-cost debt to businesses and individuals unable to access conventional credit for housing or clean energy. Its Social Impact Investment community loan fund is open to both accredited and non-accredited investors, who can invest as little as $1,000 for a period of one to 10 years and earn up to 4% interest.
The loan pool has raised $7.5 million from dozens of foundations, faith-based organizations, trust, financial institutions and individuals.
“It’s a practical way to help their neighbors and communities and promote economic justice,” Capital for Change says.
Risk for senior investors is cushioned by a subordinated tranche, backed by financial institutions and government funds.
“Individuals appreciate that Capital for Change has an unblemished record of repayment to investors,” the organization says.
Vermont-based Flexible Capital Fund, a community development financial institution, has invested $9 million in 24 companies in growth-stage companies in New England supporting sustainable food, agriculture and forestry and clean tech. A dozen more deals have been warehoused for its Flex Fund, a revenue-based finance fund that is managed by the Vermont Sustainable Jobs Fund and backed by Vermont Community Foundation, New Hampshire Charitable Foundation, Cienega Capital and other investors.
