News - 31.07.2023

ICFA announces new Cohort

  • Sustainable Finance

The International Climate Finance Accelerator (ICFA) Luxembourg has announced its latest cohort of fund managers dedicated towards addressing climate change and driving positive change globally.

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ICFA, the public-private partnership set up in 2018 under Luxembourg’s Climate Finance Strategy, aims to enhance the ecosystem by creating an attractive and supportive environment for innovative, high-impact climate finance fund managers. ICFA represents another element within Luxembourg’s sustainable finance ecosystem.

Thus far, the emerging fund managers supported by the initiative have raised a collective $937 million to finance climate-oriented projects.

Selected fund managers receive financing for a portion of their operating capital, visibility via various networks and promotional challenges, support from a pool of investment fund and climate finance experts, as well as contribute to a growing network of leading fund managers within the climate finance space.

The 2023 Cohort was the most competitive to date, with 46 applications received and 6 chosen. The new cohort members are:

  • Annycent Capital: A market facilitator designed to accelerate the redeployment of capital to renewable energy projects, primarily solar, hydro, and wind power in emerging countries.
  • Beyond Finance Consulting: An investment manager which targets companies that address the specific needs of women in relation to their adaption and resilience to climate change.
  • Catalyst Investment Management: A renewable energy and climate infrastructure private equity manager active in the MENA region aimed at creating an impact in areas such as water security, clean energy, gender equality, and more.
  • Cycle Group: An investment firm whose focus is on technology which enables the transition to a net-zero economy. In particular, the firm invests into tech that aims to half emissions by 2030.
  • Ship2B Ventures: A venture capital firm that backs climate innovations that have the largest potential transformative impact to limit global warming. Notably, the focus is on how we live, how we eat, and how we produce.
  • SVX MX: A female-led impact investment manager active in Mexico and Latin America which supports regenerative transition for rural communities through nature-based solutions.

These fund managers now go through a multi-year process aimed at structuring and launching their funds. Members receive assistance in the form of training, business support services, and personalised coaching, as well as post launch support in terms of support in fundraising and financing operating capital.

Stephan Peters, CEO of ICFA, noted that “through ICFA’s relentless commitment to fostering tomorrow’s climate finance leaders, our emerging fund managers have raised an impressive $937 million, a resounding success of our initiative and a testament to the effectiveness of our public-private partnership. Our new 2023 Cohort showcases the remarkable diversity of visionary fund managers driving positive change worldwide. We are confident that our new cohort’s dedication to climate action and positive impact will shape a more resilient and promising future for all.”