North Sky Capital has completed a final close for its latest impact secondaries fund, Clean Growth Fund V, securing $220 million in capital commitments.
The fund surpassed its $150 million fundraising target. The investor base was comprised of prominent pension plans, foundations and family offices from across the United States and Europe.
The fund invests in sectors such as energy, food, water, transportation, consumer goods and healthy living & aging, with the goal of generating strong private equity returns for its investors, while also creating positive environmental and social benefits.
The team has already deployed approximately 20 percent of CG V into nine investments, with a pipeline of additional investments expected to close by the end of the quarter.
CG V is North Sky’s seventh impact fund. Like its predecessors, CG V aims to help grow the ESG/impact ecosystem by providing a market-clearing liquidity function for investors looking to rebalance their existing portfolios and deploy new capital into areas such as sustainable consumer products, energy storage, anti-aging technology and indoor agriculture, according to the firm.
“Tremendous innovation and investment are happening right now that will improve our everyday lives and the health of our planet,” said Scott Barrington, CEO. “We are optimistic about the future, and we are humbled and grateful to play our small role in it.”
The clean growth series, which targets North America, Western Europe and Asia, have completed 39 secondary investments and contributed to 11 sustainable development goals, according to North Sky’s website.
