Verdane Closes Idun II Climate Fund at €700M Hard Cap

European specialist growth investor Verdane has announced hitting its €700M (~$761M) hard cap on the final close of its Verdane Idun II, which will invest in businesses related to decarbonization.

In an October 30 press release, Verdane said the fund is more than twice the size of its predecessor first fund, which had closed on €300M. Fund II, which will deploy €20M to €100M in capital to sustainable businesses, especially in energy transition and resources allocation, is subject to a strict sustainability criteria where it targets at least 5,000 tons of CO2 removed for every €1M investment it has made.

Rede Partners served as fundraising advisor while Andulf Advokat AB provided legal counsel to the fund.

View the press release here.