Mirova, an affiliate of Natixis Investment Managers dedicated to sustainable investment, has completed a first closing of its Mirova Gigaton Fund.
The blended finance debt fund, which qualifies as an article 9 fund under Europe’s SFDR framework, has secured $171 million against its target size of $500 million.
Mirova Gigaton Fund aims to accelerate the clean energy transition in emerging countries in Africa and Asia Pacific predominantly, as well as Latin America and the Middle East. Mirova expects to deploy $1.2 billion of private debt throughout the fund’s life, primarily to small- and medium-sized enterprises (SMEs) in solar home systems, agri-solar, commercial and industrial solar, telecom tower solarization, mini-grids, as well as other promising sectors such as e-mobility, battery storage, climate-smart food systems, energy efficiency and carbon credit pre-financing.
Long-standing partners such as the U.S. International Development Finance Corp., Swedf