Glentra Fund I completes €443m first close to invest in energy transition
Fundraising - SEPTEMBER 19, 2023

Glentra Fund I completes €443m first close to invest in energy transition

by Kali Persall

Glentra Capital has announced the first close of its energy transition fund, Glentra Fund I, with a total of €443 million ($475 million) in commitments from anchor investors Novo Holdings and PKA, as well as several other investors. Glentra Fund I has a target size of €750 million ($805 million).

Based in Copenhagen and London, Glentra is a newly established investment firm focused on accelerating the energy transition for a clean and sustainable future. Glentra Fund I is positioned to help transform the way energy is produced, distributed and consumed worldwide to meet the U.N. climate goals. The fund will identify profitable investments that will benefit its investors and the planet, investing in and expanding companies that lead in the development and deployment of renewable energy, such as offshore and onshore wind, solar, sustainable fuels, energy storage, electric mobility and other related sectors.

Glentra is headed by founding partners Henrik Tordrup and Lars Villadsen, both of whom will be investing a significant amount of their own wealth into the fund. Tordrup has a background with Ørsted and Copenhagen Infrastructure Partners (CIP), where he had a leading role in establishing CIP's global investment platform, and Villadsen has a background with Vestas as part of the senior management team in North America. In addition, Glentra comprises a diverse team of investment and industry professionals with deep experience from the renewable-energy and investment industries.

“We are thrilled to announce the first close of Glentra Fund I,” said Tordrup, who also will invest a significant amount of his own wealth into the fund alongside Villadsen. “This milestone represents a significant step forward in our mission to accelerate the transition towards a future based on sustainable energy sources while creating value for portfolio companies and investors."

Glentra Fund I is actively engaging with additional investors and expects to hold subsequent closings in the coming months.

Forgot your username or password?