Swedfund has invested $35mn in Climate Investor Two, one of two new investors in the fund, which announced its second close at USD 855mn, earlier this month, after raising an additional USD 180mn.
The other recent investor in the fund was the Green Climate Fund, which committed an additional USD 145mn in donor funding.
CI2 aims to provide technology and financing to infrastructure projects in emerging markets. While the first fund focused on renewable energy, the second will have an added remit, including water (e.g., water-treatment plants), sanitation and oceans infrastructure into the mix.
It is targeting a USD 1bn total fund size and is comprised of two funds. Its CI2 Development Fund provides early-stage project development services and financing, while its CI2 Construction Equity Fund provides equity finance that accelerates the construction of a project.