JPMorgan’s private equity impact team has invested in MineSense, a technology company for the mining industry that measures production, purity and carbon intensity of mining operations. The Sustainable Growth Private Equity strategy focuses on resource efficiency and industrial decarbonisation.
Other investors in MineSense’s $42 million financing round include venture funds Evok Innovations, Prelude Ventures, BDC Industrial Innovation Venture Fund, Cycle Capital and Chrysalix Venture Capital. This deal “offers a data-driven decarbonization pathway for mining”, said Tanya Barnes, who co-leads the fund, in a statement announcing the deal.
Some key details about JPMorgan’s sustainable growth equity team:
- Strategy: Growth equity and credit
- Size: JPMorgan is anchoring it with $150 million, but has not disclosed a fundraising target. Chief executive George Gatch has previously committed the bank to deploying $2.5 trillion over 10 years from 2021 to “sustainable development”.
- Head: Tanya Barnes (previously head of Blackstone’s now-defunct impact platform) and Osei Van Horne (a founder of Wells Fargo’s growth equity practice, before joining JPMorgan in 2021).
Further reading: Former Blackstone impact chief to co-lead JPMorgan climate fund
Correction: This article has been updated to reflect the fact that the MineSense investment was made with capital managed by the JPMorgan team, rather than from any particular fund.