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Northern Arc Gets $65 Mn Debt Commitment For Maiden Climate Fund
Inc42
·
9m ago
Medial
Northern Arc, a financial institution based in GIFT City, has secured $65 million in debt commitments. The funds come from the US DFC, contributing $50 million, and Austria's OeEB, contributing $15 million. The climate fund will primarily focus on providing debt financing for solar energy, green buildings, and sustainable agriculture companies. This announcement follows Northern Arc's recent launch of a ₹1,500 crore (approximately $202 million) AIF with a ₹500 crore green shoe option.
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Northern Arc taps foreign investors for maiden climate fund
VCCircle
·
9m ago
Medial
Non-banking finance company Northern Arc Capital has secured two institutional investors for its inaugural climate-focused fund. The firm, which manages six funds and includes the International Finance Corporation and Eight Roads among its backers, confirmed it has received $50m from the US International Development Finance Corporation and $15m from Austrian development bank Oesterreichische Entwicklungsbank (OeEB). The fund, located in Gujarat in India, will support growth-stage companies in sectors such as solar energy, energy efficiency, e-mobility and sustainable agriculture. Northern Arc did not disclose its fundraising target or timeline.
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Northern Arc set to get another key LP for climate fund
VCCircle
·
7m ago
Medial
Northern Arc Capital Ltd, a non-banking finance company, is poised to secure another institutional investor for its inaugural climate-focused debt fund. With a public listing last year, Northern Arc currently manages multiple funds and has backing from international entities such as the International Finance Corporation and several venture capital firms. The addition of a new key Limited Partner reflects its growing appeal in the climate investment landscape.
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AFC’s maiden climate resilient fund for Africa taps offshore LP for $750 mn vehicle
VCCircle
·
1y ago
Medial
AFC Capital Partners, the asset management unit of Africa Finance Corporation (AFC), is raising funds for its Infrastructure Climate Resilient Fund (ICRF) in Africa. With an anchor commitment of $253 million from the Green Climate Fund, AFC Capital is aiming to raise a total of $750 million for ICRF. The fund aims to finance climate resilience infrastructure projects across the continent. AFC Capital is currently seeking additional limited partners to contribute to the fund.
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BluSmart backer responsAbility gets another LP for $500-mn Asia climate fund
VCCircle
·
1y ago
Medial
Swiss impact investor responsAbility Investments AG is adding another limited partner for its Asia-focused climate fund, with a target of $500 million. The investment firm had rolled out the structured debt fund in late 2020 and has partnerships with German development bank KfW. The fund aims to support climate-related projects across Asia.
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SIDBI Secures $24.5 Mn For Its Maiden Climate Tech Fund
Inc42
·
1y ago
Medial
Small Industries Development Bank of India (SIDBI) has received $24.5 million from the Green Climate Fund (GCF) for its Avaana Sustainability Fund (ASF). ASF is a $120 million venture capital fund that aims to invest in early-stage climate tech startups in India, particularly in sectors such as sustainable resource management, mobility and supply chains, and sustainable agriculture and food systems. The fund also aims to invest in low-carbon and climate-resilient businesses. The GCF is the world's largest climate fund and the fund is expected to make a significant impact on climate change mitigation and adaptation in India.
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Africa-focused Acre Impact gets US LP for debut export finance fund
VCCircle
·
10m ago
Medial
- Acre Impact Capital secures commitment from US LP for its debut export finance fund focused on Africa. - The London-based investment firm has raised $25 million from a US-based limited partner. - The fund will be used to finance climate-aligned infrastructure projects in Africa. - Acre Impact Capital specializes in private debt impact investments in Africa. - The first close of the fund took place in April.
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IPO-bound NBFC Northern Arc raises $80 mn from IFC
VCCircle
·
1y ago
Medial
Chennai-based non-banking lender Northern Arc has raised $80 million, with $40 million in equity and $40 million in debt, from the International Finance Corporation (IFC), the investment arm of the World Bank Group. The funds will be used for expansion and improving customer reach. Northern Arc, which focuses on financial inclusion, plans to raise an additional $75 million from another foreign institution. The company offers microfinance, MSME finance, affordable housing finance, vehicle finance, consumer finance, and agriculture supply chain finance. Its assets under management stood at INR 10,081 crore ($1.34 billion) as of September 2023.
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Exclusive: Logistics & Distribution Startup Ripplr To Raise $4.7 Mn Debt From Northern Arc
Inc42
·
1y ago
Medial
Bengaluru-based startup Ripplr is raising INR 40 Cr ($4.7 Mn) in debt from IPO-bound Northern Arc. This comes after the company raised INR 6 Cr in debt from venture debt firm Trifecta Capital last month. The funding round is expected to consist of 400 non-convertible debentures (NCDs). Ripplr previously raised $40 Mn in a Series B funding round in May 2020.
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VentureSoul Partners sets timelines for maiden debt fund
VCCircle
·
3m ago
Medial
VentureSoul Partners, a Mumbai-based venture debt firm, is planning to complete its fundraising exercise for its first debt fund, having already supported six companies. Launched in June 2024, the fund has been progressing post-marking its first close last year. This strategic move underscores VentureSoul's commitment to expanding its investment portfolio and reinforces its position in the venture debt industry, focusing on providing crucial financial support to growing businesses.
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Women-focused AWE gets new LP for maiden India fund
VCCircle
·
11m ago
Medial
Gender-centric investment firm AWE Funds has secured a new limited partner for its first fund in India. AWE Funds focuses on backing early growth-stage companies that promote women's participation in the market. The fund received a capital commitment for its maiden fund, launched in 2022.
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