In brief: Canadian impact fund reaches CA$70m first close

Active Impact Investments launched its third fund earlier this year and invests in early-stage climate tech.

Active Impact Investments, a Canadian manager that invests in early-stage climate tech, has reached a first close for its third impact fund.

The fund was launched in June this year with a fundraising target of $120 million (€80 million; $88 million). Earlier this month, the firm announced it was more than halfway towards its target. A source subsequently confirmed the first close figure was CA$70 million.

The fund’s predecessor, Active Impact Investments II, closed on CA$60 million in 2021, according to New Private Markets data.