<article>Lightsmith Group, a New York-based private equity firm, has announced the final closing of its maiden fund focused on climate resilience and adaptation at $186 million.</article>

Lightsmith Group, a New York-based private equity firm, has announced the final closing of its maiden fund focused on climate resilience and adaptation at $186 million.
The fund, named Lightsmith Climate Resilience Partners SCSp RAIF, seeks to invest in growth-stage technology companies that address the effects of climate change.
Lightsmith was involved in Chennai-based agritech firm <a href="https://www.dealstreetasia.com/stories/waycool-foods-lightrock-277654/" target="_blank" rel="noopener">WayCool Foods and Products Pvt Ltd&#8217;s $117 million Series D</a> funding round in January.
Global institutions — including PNC Insurance Group, The Rockefeller Foundation, Kinneret Group, Caprock Impact Partners, the Green Climate Fund, European Investment Bank, Asian Infrastructure Investment Bank, KfW on behalf of the German Ministry for Economic Cooperation and Development (BMZ), Nordic Development Fund, the Government of Luxembourg — and other investors have committed to the latest fund.
Lightsmith was founded in 2016 by Jay L Koh and Sanjay J Wagle.
Koh was previously a managing director and partner at global alternative investment firm Singuler Guff, while Wagle was a former first principal in the CleanTech Group at VantagePoint Capital Partners. Wagle worked for the World Bank-affiliated International Finance Corporation (IFC) earlier and later served as a senior official at the US Department of Energy under the Barack Obama Administration.
“Climate resilience technologies are an overlooked, multi-billion-dollar investment opportunity that will just keep growing,” said Koh. “Increasing drought, agriculture stress, and supply chain disruption linked to climate change will drive demand for data and analytics solutions to understand those risks.”
Sustainable investment is gaining popularity as climate-related problems aggravate.
Private equity firm <a href="https://www.dealstreetasia.com/stories/carlyle-net-zero-emissions-279906/" target="_blank" rel="noopener">Carlyle Group recently said it was targeting net-zero greenhouse gas emissions by 2050</a> or sooner across its investment portfolio. Meanwhile, Blackstone Inc has launched a platform to invest in, and lend to, renewable energy companies, to ramp up its sustainability credentials. Wall Street giant JPMorgan Chase &amp; Co’s asset management arm had also created a new private equity team to focus on sustainable investments.
Taiwan&#8217;s Bureau of Labor Funds is reportedly set to issue a climate change-focused stock mandate worth $2.3 billion.
Interest in climate change is also prompting many <a href="https://www.dealstreetasia.com/stories/pe-vc-investors-net-zero-goals-265374/" target="_blank" rel="noopener">Southeast Asian investment firms</a> to launch green funds, as DealStreetAsia reported recently.

Lightsmith Climate Resilience Partners SCSp RAIF seeks to invest in growth-stage tech companies that address the effects of climate change.

Lightsmith Group closes $186m growth fund that focuses on climate resilience

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Lightsmith Group closes $186m growth fund that focuses on climate resilience

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