$171m first close for Mirova Gigaton Fund
Mirova, the sustainable investment affiliate of Natixis Investment Managers, has announced the first closing of its Mirova Gigaton Fund, which has raised $171 million.
The blended finance debt fund aims to accelerate the clean energy transition in emerging countries across Africa and Asia Pacific, as well as Latin America and the Middle East. The fund’s target size is $500 million and it will deploy private debt primarily to small and medium-sized enterprises in areas such as solar home systems, agri-solar, commercial and industrial solar, telecom tower solarisation, mini-grids, e-mobility, battery storage, climate-smart food systems, energy efficiency and carbon credit pre-financing.
The US International Development Finance Corporation, Swedfund and Sida are among the fund’s long-standing partners.