Wednesday
May 22
2019

Generation Closes $1b Growth Fund Targeting Sustainable Startups

By Ingrid Lunden

Generation Investment Management, the firm co-founded by environmentalist and former Vice President Al Gore, was built on the premise of backing sustainable startups. Now, as the idea of sustainability starts to gain wider traction, the firm is doubling down on the concept.

Today, Generation is announcing that it has closed a $1 billion Sustainable Solutions Fund for growth investments. As the name implies, it plans to put the $1 billion to work backing later-stage startups that work on sustainability in at least one of three areas — environmental solutions; healthcare; and financial inclusion, including the future of work — and are creating financially sustainable businesses out of that focus.

Typical investments will range from $50 million to $150 million, and there have already been two made out of the fund before it closed, both indicative of the kinds of investments Generation plans to be making.

Photo courtesy of Images Money.

Source: TechCrunch (link opens in a new window)

Categories
Environment, Investing
Tags
environment, green business, startups, sustainability, sustainable business, sustainable investing