The new platform has been introduced as part of Investcorp's collaboration with Innovate for Climate Tech, which is a coalition between Masdar City, China-based internet and technology firm Tencent, and startup technology accelerator Catalyst
Alternative investment management firm Investcorp has launched the new $750m Climate Solutions Investment Platform anchored by Bahrain’s sovereign wealth fund Mumtalakat and other Bahraini institutions.
The new platform has been introduced as part of Investcorp’s collaboration with Innovate for Climate Tech, which is a coalition between Masdar City, China-based internet and technology firm Tencent, and startup technology accelerator Catalyst.
Innovate for Climate Tech is an initiative of the ongoing UN’s climate change conference COP28 which is being held in the UAE.
COP28 UAE CEO Adnan Amin said: “We are delighted to welcome Investcorp to the Innovate for Climate Tech coalition. Their commitment towards addressing the impacts of climate through technology aligns with the COP28 commitment towards supporting, promoting and facilitating the deployment of climate technologies.
“By working together and building a platform for innovation and investment we can create opportunities for sustainable economic growth and employment, especially in those regions who need it the most.”
The Climate Solutions Investment Platform is expected to deliver growth capital to companies that offer products, services, and technologies which power decarbonisation and address the impacts of climate change.
It will also expedite the global transition to a zero-carbon economy by focussing on the implementation and rapid scaling of economically viable climate solutions.
Besides, the investment platform will make equity investments in businesses at the growth inflection point.
The firms at the point will have outgrown many of the risks associated with earlier stage ventures and are rather focussing on effectively managing and reducing the execution risks associated with expansion, said Investcorp.
The Climate Solutions Investment Platform will be led by Investcorp managing director James Socas.
Investcorp co-CEO Rishi Kapoor said: “We’re also very pleased to partner with Mumtalakat as an initial anchor and the first of what we hope will be many investors as the world pivots to climate-focused investing to address ongoing challenges.
“We aim to capture the once-in-a generation investment opportunity this presents to seek highly attractive risk-adjusted returns over the long term.”