Mirova Gigaton Fund has raised USD 171mn for its first close from U.S. International Development Finance Corporation, Swedfund, Natixis Private Equity and others.
The blended finance debt fund plans to raise USD 500mn in total to facilitate the transition to clean energy mainly in Africa and the Asia Pacific but also in Latin America and the Middle East. SMEs in the following sectors are set to benefit; solar home systems, agri-solar, commercial & industrial solar, telecom tower solarization, mini-grids and others such as e-mobility, battery storage, climate-smart food systems, energy efficiency and carbon credit pre-financing.
Mirova Gigaton Fund is an indirect affiliate (via Mirova) of Natixis Investment Managers. It already has a pipeline of investments in over thirty countries and continues to actively seek investable opportunities.