Eurazeo targets 750 million euros for a new planetary boundaries fund
An executive told Reuters that Eurazeo, the French private equity investor, plans to raise at least $813 million for an impact-focused buyout fund targeting companies that are helping the world operate within its ecological limits.
The fund, Eurazeo Planetary Boundaries, is based on the scientific concept of ‘planetary boundaries’. According to a press release, the scientific concept defines thresholds on parameters such as pollution and biodiversity loss within which the world must remain to be habitable.
Reuters reported that using scientific criteria as a guide, the fund will invest in small and mid-market companies focused on the regenerative and circular economy. It will also invest in companies that are playing a key role in transitioning the world to adapt to a climate-friendly future.
The fund will focus on sectors such as agriculture, waste, and low-carbon energy, among others. It will primarily invest in European firms.
Read more: CIWM launches new fund for circular economy businesses
The fund’s launch coincides with the shift of companies and the broader European economy towards a more circular economy, emphasizing reduced material usage and increased reuse or recycling.
Managing Partner Sophie Flak told Reuters that the shift, part of the European Union’s efforts to meet its climate goals, is now starting to show up in tighter rules around water usage, textiles, plastics, and packaging.
“We are seeing some small and mid-size companies which have products, services or technology which are addressing the planetary boundaries”, Flak clarified.
An advisory board of sustainability experts, including Hans Bruyninckx, the former head of the European Environment Agency, and Catherine McKenna, Canada’s former minister of environment and climate change, would support the fund.
Club of Rome Co-President Sandrine Dixson-Decleve, L’Oreal’s former sustainable innovation director Lauren Gilbert, and IKEA’s former head of sustainability Pia Heidenmark Cook would also be on the board.
“After investing, the fund would spend 12-18 months analyzing each before agreeing on a binding progress plan with management”, Flak said.
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