Generation Closes $1b Growth Fund Targeting Sustainable Startups
Wednesday, May 22, 2019
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.
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