In brief: Mirova seeks retail capital for environmental private equity fund

Natixis subsidiary’s €300m-target fund qualifies as an ELTIF as the firm ‘aims to participate in the accelerated democratisation of private equity’.

Mirova, the impact firm subsidiary of French asset manager Natixis, has opened its environmental growth equity fund to retail investors.

The Environment Acceleration Capital Fund is classified as a European Long Term Investment Fund and can take commitments of €100,000 or more, according to a statement from Mirova. The Article 9-classified vehicle was launched in September 2021 with a target of €300 million. The fund invests along five themes: smart cities, natural resources, agrotechnology, circular economy and clean energy, and has inked four deals so far.

“We aim to participate in the accelerated democratisation of private equity,” Mirova’s head of impact private equity, Marc Romano, said. Mirova’s previous fund, the private debt Land Degradation Neutrality Fund, closed in 2021 at $208 million after targeting $300 million, according to PEI Media’s database.