GEF Capital Partners (GEF), a sustainability private equity investor, has raised about $200 million from marquee investors for its South Asia Growth Fund II (SAGF II). SAGF II is a growth equity-fund targeting climate-themed businesses in South Asia with a focus on India, the company said in a statement. The amount was raised from a clutch of global investors, including CDC Group of UK, European Investment Bank, Dutch investment firm FMO, Proparco, Swedfund, BIO, International Finance Corporation and the US Development Finance Corporation.
“The climate sector presents an investment opportunity of more than $1 trillion in South Asia. GEF looks to build on the team’s strong track record of investing and providing attractive exits from the India portfolio of GEF and Global Environment Fund, which has built several billion-dollar companies, including ReNew Power, one of Asia’s largest renewable energy generation company and IEX, which is India’s largest energy exchange marketplace,” Sridhar Narayan, co-founder and Managing partner at GEF Capital Partners, said.
SAGF II has already deployed over two-thirds of its commitments in Indian companies, including Prince Pipes, SeedWorks, Premier Energies, Syrma SGS and 3SC.