Generation Investment Management, a fund manager co-founded by former US vice president-turned climate activist Al Gore, has closed its third ‘Sustainable Solutions’ fund with US$1 billion in investments.
The fund intends to make minority investments of between US$50-150 million in companies that have developed commercially viable technology solutions to social and environmental challenges. It will focus on three main areas: low carbon solutions for mobility, food and energy; accessible and affordable healthcare; and financial inclusion.
The fund has already made two investments, Sophia Genetics, which is using developments in life sciences and computing to make data-driven medicine more affordable, and Andela, which links companies around the world to software engineering talent in Africa.
“We believe that we are at the early stages of a technology-led sustainability revolution, which has the scale of the industrial revolution, and the pace of the digital revolution,” Gore said.
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