Private Equity Firm Launches Growth Fund for Climate Adaptation.

UNITED Nations; PRIVATE equity; BUSINESS enterprises; WATER harvesting; MUTUAL funds; PRIVATE sector

Startup private equity firm Lightsmith Group raised $186 million for its first fund to invest in technology that could combat the effects of floods, droughts, storms and other climate disruptions. The fund's largest investor is the Green Climate Fund (GCF), a UN project created in 2010 to channel money to developing economies that face some of the highest risks from climate change and are least responsible for causing it. Other investors are ahead of the UN venture in receiving cash when the fund's deals pay out, according to a GCF funding proposal. [Extracted from the article]

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