IFC’s Board has approved an investment of about $75m in the fund, while the UK government has approved an investment of GBP50m ($78.55m) from the UK’s International Climate Fund as part of its Climate Public-Private Partnership, or CP3, initiative.
The Climate Catalyst Fund aims to make direct co-investments in early and growth-stage companies that are developing technologies and helping reduce climate change.
IFC executive vice president and CEO Lars Thunell said addressing climate change is a strategic priority for IFC, and private equity is well suited to jump start climate-friendly investment in emerging markets.
IFC provides investments and advisory services to businesses in the renewable energy and resource efficiency sectors, including across the supply chain, throughout emerging markets.
IFC Climate Catalyst Fund is a private equity fund of funds focused on providing growth capital for companies delivering resource efficiency and low-emission products and services in emerging markets.
