Luxcara, a renewable-energy asset manager in Europe, has completed an interim close of its impact investing fund, FLAVEO IV Green Energy.
The fund has collected commitments from European and overseas institutional investors and is expected to reach an equity volume of €1 billion ($1 billion) by the end of 2022.
Launched in the third quarter 2021, FLAVEO IV focuses solely on clean infrastructure, such as renewable energy and storage solutions. The fund is classified as an impact fund under the EU’s Sustainable Finance Disclosure Regulation.
Luxcara has already secured more than 1 gigawatt of projects for FLAVEO IV in the Netherlands, Denmark, Sweden, Spain and Germany.
“The demand for our fifth clean infrastructure fund is significant and continues to increase,” said Alexander Ruesch, investor relations director at Luxcara. “We are particularly happy about welcoming back not only most of our existing investors, but also new investors from several