<\/p>\n
Lightrock, the London-based backer of\u00a0neobank Niyo and \u201cwood modification\u201d company Kebony, has secured about $834 million (\u20ac860 million) for a new fund focused on climate tech. The private equity and venture firm says it will pump the money into startups focused on areas such as clean energy, decarbonization and sustainable agriculture.<\/p>\n
Lightrock plans to write checks as small as $10 million, and up to around $39 million, for startups in Europe and North America. Back in May, the investor announced its first fund for startups in Latin America.<\/p>\n
Lightrock has ties to royalty through a web of subsidiaries, which means the money it raised likely wasn\u2019t too tricky to find. The firm is owned by LGT, which makes investments for rich people and institutions. LGT\u2019s owner is the royal family of Liechtenstein, which has ramped up its environmental and social impact investments since that really big tax scandal.<\/p>\n
LGT promotes itself as being focused on sustainability, and to its credit, the firm has taken steps to limit its climate impact. Still, it hasn\u2019t walked away from fossil fuels.<\/p>\n
LGT invests in oil and gas producers, so long as they are \u201cstrongly committed to the energy transition and have low revenues from oil and gas production.\u201d LGT\u2019s policies also permit investments in business that earn revenue via thermal coal (limited to up to \u201c5% of their total revenues as of January).<\/p>\n
Lightrock says the money for its climate fund comes from investors such as LGT, some of LGT\u2019s clients, the Grantham Foundation and Temasek, which is a holding company owned by Singapore. Temasek\u2019s portfolio includes significant gas and oil holdings, which drive climate change.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
Lightrock, the London-based backer of\u00a0neobank Niyo and \u201cwood modification\u201d company Kebony, has secured about $834 million (\u20ac860 million) for a new fund focused on climate tech. The private equity and venture firm says it will pump the money into startups focused on areas such as clean energy, decarbonization and sustainable agriculture. Lightrock plans to write […]<\/p>\n","protected":false},"author":1,"featured_media":1223053,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[],"class_list":["post-1223051","post","type-post","status-publish","format-standard","has-post-thumbnail","category-celebrity-gossip"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1223051","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1223051"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1223051\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1223051"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1223051"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1223051"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}