ImpactAlpha’s deal news coverage for the week:
Energy transition. APG and Ara Partners joined Utility Global’s $100 million raise for clean hydrogen expansion… Bangalore-based Theia Ventures and Eximius Ventures participated in a $1 million pre-seed round for EarthSync, a software maker that simulates and optimizes renewable energy management for commercial and industrial users and independent power producers… ETIC Partners landed €70 million for renewable energy project financing in Europe.
Fund news. British International Investment injected 900 million rupees ($9.9 million) in UC Impower, a small business finance fund manager incubated by Unitus Capital. Caspian, the Dell Foundation, LifeBank Microfinance Foundation and Sorenson Impact are also UC Impower investors… Spain’s state-run investment group COFIDES is the latest investor in France-based Phitrust’s €60 million ($71 million) Partenaires Inclusion fund for Europe’s small and mid-sized social enterprises… Swiss-German impact fund offered patient capital for Europe’s early impact ventures.
Green infrastructure. Kenya-based Arc Ride secured $5 million from the International Finance Corp. to provide battery swapping infrastructure and services to local mobility companies… The infrastructure groups at EQT and Blackstone acquired Urbaser, a Spanish waste management and environmental services company, from private equity firm Platinum Equity.
Impact lending. Dutch development bank FMO led a $150 million syndicated debt round for XacBank to support green and small business lending in Mongolia. Swiss impact investor responsAbility invested through its climate finance strategy… Lightrock grabbed an exit opportunity from Indian small business lender Aye Finance… Symbiotics lent $5.5 million to Fido for microlending and climate insurance in Ghana and Uganda.
Inclusive finance. Impacta VC invested $300,000 in Colombia-based fintech venture Quipu, which helps banks, cooperatives and other financial services companies adopt alternative credit scoring approaches and reach more underbanked customers… TLG Capital provided a $10 million, seven-year loan to Kandara, a company in Conakry, Guinea that is building a 20-story commercial property. The loan was made with a guarantee from NSIA Banque Cote d’Ivoire (learn more about TLG’s strategy)… Women-led First Circle Capital, a first-time fund manager that invests in inclusive fintech businesses in Africa, secured backing from the Dutch Good Growth Fund.
Investing in AI. Cherryrock Capital, founded by former TaskRabbit CEO Stacy Brown-Philpot, raised $172 million for a debut fund for “underinvested” AI-focused entrepreneurs. Investors include JPMorgan, Goldman Sachs, MassMutual and Pivotal Ventures… DG Matrix raised $60 million in Series A financing from Engine Ventures, Helios Climate Ventures and other climate VCs for its solid-state transformer that unblocks “stranded power” for AI and electrification.
Investing in health. Goldman Sachs Alternatives acquired LearnWell to scale up school-based behavioral health services.
Sustainable air travel. Switzerland-based Metafuels, a sustainable aviation fuel developer, clinched $24 million in Series A funding led by UVC Partners to make green methanol from hydrogen and captured carbon emissions.
