In brief: Mirova raises €195m for EM nature fund

Climate Fund for Nature has a target of €350m and has received commitments from several corporates.

Mirova, the world’s 10th biggest impact GP, has held a second close on Climate Fund for Nature at €195 million.

The fund was announced at COP15 in 2022 with a fundraising target of €350 million. It invests in projects that protect and restore nature in emerging markets and supports farmers in transition to regenerative agriculture. It has received commitments from a number of corporates; Capgemini, Unibail-Rodamco-Westfield and Groupe Mane have recently become LPs, according to a statement. Kering and L’Occitane Group have also committed.

Mirova manages a number of impact strategies. It is in the market with Mirova Sustainable Land Fund 2, an emerging markets-focused natural capital debt vehicle launched in December. This fund is also targeting €350 million and will invest in agriculture and forestry projects with objectives of climate change adaptation, mitigation and biodiversity preservation.