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.
Paris-based infrastructure manager contributes €125m to a €350m facility for the Australian investment firm to acquire a stake in the Italian renewable energy company.
The firm is set to purchase am onshore wind turbine generator manufacturing business in India and Sri Lanka.
The impact investment industry needs 'positive, realised returns at scale', according to winners of New Private Markets' Global Awards impact investing categories. Thankfully, they are optimistic about the prospect for exits in 2025.
Incofin and Apis Partners have both sold financing providers in the opening months of the year.
Exits for impact funds are expected to increase this year. It could be make-or-break for many strategies.