JPMorgan Asset Management has led a $200 million funding round in technology company Arcadia in the first deal from its Sustainable Growth Private Equity fund (press release). JPMorgan’s fund was unveiled earlier this year with a $150 million anchor commitment from the bank. It is led by two Goldman Sachs alumni, Tanya Barnes and Osei Van Horne, and sits within the bank’s private capital team.
Arcadia‘s business involves providing access to energy usage data “to empower companies to monitor, report and act on their carbon impact” (in its own words). Also investing in the funding round were Triangle Peak Partners (new investors) and existing investors Camber Creek, Tiger Global Management, Wellington Management, Drawdown Fund and others.