Idealist Capital announces first close of its Climate Impact Fund to accelerate energy transition

Idealist Capital announces first close of its Climate Impact Fund to accelerate energy transition

Published: 21-09-2022 11:32:00 | By: Pie Kamau | hits: 269 | Tags:

Idealist Capital, a North American fund with a primary focus on the Canadian market, announced the first closing of the Idealist Climate Impact Fund LP (the Fund) with capital commitments totalling C$250 million. 

The Fund’s mission is to empower entrepreneurs to accelerate the energy transition. The Fund will provide businesses with growth capital to accelerate the commercialization of proven solutions which generate positive climate impact.

As part of its first close, the Fund welcomes Desjardins, Investissement Québec, Fondaction, TD Bank and National Bank of Canada, as well as a group of prominent family offices and accredited investors. Idealist Capital has set a cap of C$500 million in total capital commitments and remains open for additional commitments.

Pierre Larochelle, Co-Managing Partner, Idealist Capital: ''We are grateful to our investors for their partnership and trust. Having been actively involved in the climate impact ecosystem for over a decade, the urgency and the opportunity to widely commercialize innovative solutions in the fight against climate change are unequivocal. Idealist Capital will help fill a market need by supporting growth stage businesses whose activities contribute to decarbonization.''

The Idealist Capital team, led by Founding Partners Pierre Larochelle and Steeve Robitaille, brings decades of combined investment and operational experience, with a differentiated track record in energy transition and helping entrepreneurs navigate various stages of growth. The Fund also benefits from a strong bench of Strategic Advisors already involved in the fight against climate change across the energy and transportation sectors, as well as the circular economy.

Guy Cormier, President and CEO, Desjardins Group: ''Desjardins is proud to be a part of the Idealist Climate Impact Fund. As an organization, we see fast-tracking the energy transition as critically important to contain global warming and reduce the impacts on our members and communities. That’s why Desjardins plans to achieve net zero emissions by 2040 for our lending activities and own investments in 3 key carbon-intensive sectors of the economy: energy, transportation and real estate. We also want to give businesses the support they need to make this transition.''

Martin Robitaille, Managing Director, Head of Investment Banking Quebec and Global Power, Utilities & Infrastructure at National Bank of Canada: ''At National Bank of Canada, we firmly believe that the energy transition challenge is also an opportunity for innovative entrepreneurs and businesses to help shape a better world. To succeed, our entrepreneurs need capital and sound business advice, and we believe that Idealist Capital is well positioned to help. We are pleased to assist this team of seasoned investment professionals support our entrepreneurs in their quest for energy transition solutions.''

If you are an entrepreneur wanting to scale a product or service that significantly reduces the greenhouse gas (GHG) footprint of your industry, avoids GHG emissions into the atmosphere, accelerates the energy transition or otherwise is materially beneficial to the fight against climate change, contact