Venture Capital: Al Gore-Led Generation Investment Launches $1.7B Sustainability Fund

Generation Investment has been co-founded by former US Vice President Al Gore.

ESG-focused Generation Investment, which has $36 billion of assets under management, on Wednesday launched a $1.7 billion fund titled Sustainable Solutions Fund IV. This fund, the largest so far from Generation, plans to “invest $50 million to $150 million as active minority investors in high-growth companies that are shifting industries toward sustainability.” (Crunchbase)

Generation is headquartered in London and the latest fund will place an emphasis on growth-stage businesses in planetary health, people health, and financial inclusion. Investment candidates would need to show that their business contribution is “System Positive” and driving the transition to a more sustainable future.

The firm’s prior Growth Equity funds have invested over $2 billion since 2008, and portfolio companies include AlayaCare, Asana, Back Market, Benevity, Convoy, Gusto, Pivot Bio and Toast.

Investors and institutions from across the world have invested in Sustainable Solutions Fund IV, and there are many returning LPs, the firm said.

According to Sifted, Fund IV will place a strong emphasis on investments in Europe, particularly because of the region’s booming climate tech ecosystem.

Joy Tuffield, part of Generation’s growth equity team, says: “We’re seeing multiple examples of really interesting companies across Europe.”

However, the firm will invest in companies in any country in Europe that fit the aforesaid three themes.

Related Story: Back Market, Which Refurbishes Devices, Nabs $335M

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