The Italian company repurposes residue from the leather industry to provide inputs for agriculture, construction and energy.
Aleksandra Holmlund, who runs Qarlbo Biodiversity, said she wanted the deal to be 'transparent and easy to understand, and verified by someone other than ourselves'.
NYSE-listed investor AMG has partnered with several sustainability-focused firms.
The firm intends to restore 40,000ha of degraded land across the assets located in Argentina, Costa Rica and Madagascar.
The $30bn climate investor has invested $100m into an Indian renewables company alongside Brookfield's second transition fund.
Ardabelle Capital, which invests in companies that improve the sustainability of supply chains, is the fourth investment from TPG Next fund.
More than a third of VC deals on the continent involved impact capital, according to AVCA.
The transaction sees Suma Capital join a rarified group of sustainability-oriented firms that have created continuation vehicles classified as Article 9 under the EU's SFDR.
The environmentally-focused manager enjoyed a "very smooth and fast" exit process, partner Giancarlo Beraudo told New Private Markets.
The firm has raised $530m for its first impact strategy and has now inked its fifth deal.