GEF Capital raises $200m for climate-focused investments

GEF Capital Partners (GEF), a world-renowned private equity (PE) investor with a focus on climate investing, has closed its South Asia Growth Fund II after raising over $200 million from high-profile investors (SAGF II). The fund aims to invest in climate-related companies in South Asia, particularly India.

The money was raised from a number of international investors, including the CDC Group of the United Kingdom, the European Investment Bank, FMO, Proparco, Swedfund, BIO, the International Finance Corporation (IFC), the World Bank’s private investment arm, and the US Development Finance Corporation.

Over two-thirds of SAGF II’s commitments have already been invested in several sector-leading companies in India, including Prince Pipes, which serves the water and water conservation sector, SeedWorks, which operates in the hybrid climate-smart agricultural seeds sector, Premier Energies, which is one of India’s largest integrated solar cell and module manufacturers, Syrma SGS, which is an original design manufacturer of energy-efficient electronic devices and components, and 3M, which is an original design manufacturer of energy-efficient electronic devices.