Climate

The firm raised $510m for its PE vehicle and $135m for its venture fund, say founder Rob Appleby and ventures head Alastair Cooper.

WovenEarth Ventures announced it has closed its inaugural fund of funds on its hard-cap of $152m.

Clean Industry Ventures, a new firm co-founded by renewable energy tech entrepreneur Patrick Maloney, has started fundraising for a debut fund with a target of $200m.

Voyager Ventures, a venture capital firm focused on early-stage climate tech companies in North America and Europe, has closed its inaugural select fund at $100 million.

ArcTern closed on $335m for its third climate-focused fund, including a $25m commitment from Canadian Pension Plan Investments.

Fund III's LPs include TD Bank Group, Allianz, Church Pension Group, OPTrust, Credit Suisse Asset Management and other large institutional investors.

As more investors conduct climate scenario analyses, the severity of physical risks on investment portfolios is becoming clearer.

Fund III's investors include CalSTRS, the Grantham Foundation, the University of California, Sobrato Capital, Strategic Investment Group and Northwestern University.

COP28 president Sultan Ahmed Al Jaber, who is part of Altérra's four-person leadership team, describes it as "a vehicle like no other."

Just Climate sold an undisclosed ownership stake to the California pension fund earlier this year.