PureTerra is the first of its kind specialist water-focused fund in Europe and the first water-focused investment in the EIF’s venture capital portfolio. €30 million to PureTerra Ventures, a water technology early growth fund, which invests in small and medium enterprises across the European Union scaling game-changing technologies to radically alter the usage, conservation and treatment of water.It will mainly invest in Portuguese small and medium companies across all sectors. €28 million to the Growth Blue Fund I, a private equity fund focusing on the blue economy, sustainable economic activities relating to the oceans.The investment agreed - backed by the InvestEU programme - will enable the fund managers to reach a first close or attain their target fund size. The new financing contributes to the European Green Deal, the roadmap for Europe to become the first climate-neutral continent by 2050, and REPowerEU, the plan to rapidly reduce dependence on Russian fossil fuels and fast forward the green transition. InvestEU brings together EU financial tools to support investment by making project financing simpler, more efficient and more flexible.Īt the COP27 climate conference, the European Investment Fund (EIF), Europe’s largest venture capital and private equity financier, signed investments totalling €247 million to enable five equity funds to back €2.5 billion of climate action investment that helps to deliver the European Union’s climate and energy targets. Four of the five agreements (Growth Blue Fund I, PureTerra Ventures, SUMA Capital Climate Impact Fund III and Eiffel Transition Infrastructure Fund) are supported by the InvestEU programme.The funds will invest in food innovation, renewable energy, energy efficiency, the circular economy, blue economy and water.The EIF is committing €250 million with five equity funds to mobilise €2.5 billion of climate action and environmental sustainability investment across Europe: Growth Blue Fund I, PureTerra Ventures, Zintinus Fund I, SUMA Capital Climate Impact Fund III and Eiffel Transition Infrastructure Fund.
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