GEF Capital wraps up sophomore U.S. climate solutions fund at $325m

• The fund’s LPs include Blue Earth Capital, HQ Capital, ODDO BHF, INGKA Investments, GEM Investments, Första AP-fonden, Quilvest Capital Partners, Granite Capital Management, and Nordea
• In addition to the fundraising, GEF has hired Eric Townsend and Radha Badani as operating partners
• FirstPoint Equity was lead placement agent to GEF Capital

GEF Capital Partners has closed its second U.S. climate solutions fund at $325 million, beating its $250 million target.

GEF US Climate Solutions Fund II invests in lower middle-market companies in the U.S. and Canada focused on climate change.

The fund’s limited partners include Blue Earth Capital, HQ Capital, ODDO BHF, INGKA Investments, GEM Investments, Första AP-fonden, Quilvest Capital Partners, Granite Capital Management, and Nordea.

“We are grateful for the support we received from a global and highly sophisticated institutional investor base seeking exposure to lower middle-market companies addressing climate change in the United States,” said Daniel Prawda, co-founder and managing partner of GEF Capital in a statement. “We look forward to working with these investors to channel capital into companies providing innovative and cost-saving solutions for their customers to decarbonize and transition towards less expensive forms of renewable energy, as well as to find ways to maximize resource efficiency through the circular economy.”

In addition to the fundraising, GEF has hired Eric Townsend and Radha Badani as operating partners.

FirstPoint Equity was lead placement agent to GEF Capital. Additional placement agent services were provided by Asante Capital, TritonLake and Impactus Partners. Latham & Watkins LLP served as legal counsel in the formation of the Fund.

With offices in the United States, India and Brazil, GEF Capital invests in companies that have developed solutions to help address climate change and pollution mitigation.