Minneapolis, MN – North Sky Capital’s (“North Sky”) Clean Growth Fund VI is pleased to announce its role as lead investor in a multi-asset continuation vehicle formed to acquire the carbon neutral-focused corporate venture capital portfolio of French energy giant TotalEnergies Ventures. The portfolio consists of approximately 20 companies largely located in North America and Europe.
The bespoke secondary solution was designed in partnership with Paris-based venture capital firm Aster Capital Partners, who will act as manager of the continuation vehicle. To support the portfolio companies’ impact and growth initiatives, the continuation vehicle was capitalized with a meaningful reserve to allow the continuation vehicle to participate in future portfolio company financing rounds.
This deal highlights North Sky’s longstanding leadership role in the impact secondary space, having created the first impact secondaries fund in the world in 2013, and the firm’s ability to source and creatively structure deals in the private market.
“North Sky’s partnership with Aster showcases our skill and expertise in creating bespoke secondary solutions that meet the financial and impact needs of a wide range of clients, including large multinational corporations,” said Tom Jorgensen, Managing Director and Co-Head of North Sky’s impact secondaries strategy.
About North Sky
North Sky Capital is a pioneer in impact investing in the United States. Now in its 24th year, North Sky has deployed more than $1.3 billion across 140+ impact investments on behalf of its various impact funds. The firm has two flagship investment strategies: impact secondaries (private equity) and sustainable infrastructure. Both strategies support positive environmental and social impact while targeting market rate investment returns. North Sky has been an active impact investor since the beginning of the modern era of private markets impact investing in 2005-6. For more information, visit northskycapital.com.