A broad group of institutional investors from across the globe has backed a $335m investment in ArcTern Ventures latest decarbonisation fund, which is now oversubscribed, the Toronto-based venture capital firm confirmed.
Among the investors backing ArcTern’s Fund III, which offers access to global climate tech firms are the American Church Pension Group, Allianz, Canadian pension fund OPTrust, Canada Pension Plan Investment Board, Credit Suisse Asset Management and Allianz.
The manager initially targeted to raise $300m but subsequently closed with $335m of investments.
The fund targets exclusively early growth-stage companies — particularly those undergoing a Series A or B funding round — with the greatest potential for GHG avoidance. It is primarily focused on North-American and European markets but has scope to invest across the globe.
Fund III will invest in technology companies that develop and innovate solutions in renewable energy, clean mobility, circular economy, sustainable food, and agriculture and industrial decarbonization.
