Global private equity firm GEF Capital Partners announced that it has raised R$1.05 billion (USD$214 million) at the final close of its Brazil-focused climate solutions-focused fund, the GEF LatAm Climate Solutions Fund III.

The new growth fund targets climate and pollution control solutions, investing lower middle market companies in Brazil.

Anibal Wadih, Managing Partner at GEF Capital Partners, said:

“In the midst of the pressing global challenges posed by climate change, Brazil emerges as a beacon of opportunity, steering the helm of innovative solutions. Introducing the GEF LatAm Climate Solutions Fund III, we are elated to announce our timely initiative to transform the world around us.”

GEF added that the fund has been structured to make private equity investments in companies that are geared towards climate change solutions, and that are also positioned to lead a wave of growth in sustainable initiatives across Brazil, with the fund poised to catalyze significant growth in Brazil’s climate solutions sector.

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Wadih added:

“We believe in the power of sustainable change. Our vision is to collaborate with pioneering companies that not only spearhead climate solutions but also ensure a promising financial future. It’s about returns and it is also about creating a lasting impact for our planet.”