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ALTÉRRA is the world's largest private climate investment fund, established in 2023 in the UAE. Launched at COP28, the fund has an initial commitment of $30 billion from the UAE government and aims to mobilize a total of $250 billion by 2030 to finance climate solutions globally. The fund is managed by Lunate and is based in the Abu Dhabi Global Market (ADGM).
As a pioneering entity in climate finance, ALTÉRRA focuses on large-scale investments in renewable energy and sustainable infrastructure. The fund's structure includes two distinct vehicles: the ALTÉRRA ACCELERATION fund, which has a target size of $25 billion, and the ALTÉRRA TRANSFORMATION fund, aimed at $5 billion. These funds are designed to support both developed and emerging markets, emphasizing the importance of sustainable living and industrial decarbonization.
ALTÉRRA's investment strategy encompasses various sectors related to climate solutions, including climate technologies, energy transition, industrial decarbonization, and sustainable living. The fund targets a wide range of stages from Friends & Family to Growth Equity, with check sizes ranging from $1 million to $30 million. This broad approach allows ALTÉRRA to engage with startups at different development phases, ensuring a diverse portfolio.
The geographic focus is global, with particular attention to Asia and the Middle East & North Africa. ALTÉRRA aims to drive large-scale investments in renewable energy and sustainable infrastructure, aligning its investment returns with environmental returns. The fund's unique cap on returns allows for asymmetric risk absorption, encouraging co-investment and unlocking private investment flows into developing economies.
ALTÉRRA has made significant investments in a range of companies that are innovating in the climate sector. Notable portfolio companies include:
These companies reflect ALTÉRRA's commitment to advancing climate solutions and sustainable practices across various sectors.
H.E. Dr. Sultan Al Jaber - Chairman; UAE Minister of Industry and Advanced Technology; former President of COP28.
H.E. Majid Al Suwaidi - CEO; former Director General of COP28 Presidency; experienced climate negotiator and diplomat.
Khalifa Al Suwaidi - Managing Partner, Lunate; over 23 years of investment experience; involved in Investment & Supervisory Committees.
Murtaza Hussain - Managing Partner, Lunate; 19+ years of private markets experience; specializes in direct and co-investments.
Jennifer Park - Partner; expertise in climate technologies and sustainable investments.
Karim Radwan - Partner; focuses on industrial decarbonization and energy transition investments.
Iftikhar Ahmed - Director, Investments; responsible for sourcing and managing investment opportunities.
Niels Storm Stenbeak - Director, Impact; focuses on measuring and enhancing the environmental impact of investments.
Ahmed Al Awadhi - Director, Financial Operations; oversees financial management and operations.
Crystal Wan - Senior Principal, Investments; involved in deal sourcing and portfolio management.
ALTÉRRA operates several funds to facilitate climate investments, including:
These funds are designed to support innovative climate solutions and promote sustainable practices across various sectors.
In December 2023, ALTÉRRA launched as the world's largest private climate investment fund at COP28, with an initial commitment of $30 billion from the UAE government. The fund aims to mobilize $250 billion in climate investments by 2030.
In 2024, ALTÉRRA announced partnerships with major investment firms, including a $1 billion commitment to BlackRock's Climate Transition-Oriented Private Debt strategy and $1 billion to TPG Rise Climate II. These partnerships are designed to enhance the fund's capacity to drive large-scale climate investments.
ALTÉRRA also hosted the ALTÉRRA Dialogues, a bi-annual convening of global decision-makers, and the ALTÉRRA Futures Speaker Series, featuring influential voices in sustainability and finance.
What are ALTÉRRA's investment criteria?
ALTÉRRA invests in companies focused on climate solutions across various sectors, including energy transition, industrial decarbonization, sustainable living, and climate technologies. The fund targets startups at multiple stages, from Friends & Family to Series F, with check sizes ranging from $1 million to $30 million.
How can I pitch to ALTÉRRA?
Founders interested in pitching to ALTÉRRA should prepare a comprehensive deck that outlines their business model, market potential, and alignment with ALTÉRRA's climate-focused investment thesis. Specific URLs for pitch submissions were not provided, but inquiries can be made through their website.
What makes ALTÉRRA different from other investors?
ALTÉRRA is distinguished by its status as the largest private climate investment fund, with a commitment to mobilizing $250 billion by 2030. The fund's unique cap on returns allows for asymmetric risk absorption, which encourages co-investment and facilitates private investment flows into developing economies.
What is ALTÉRRA's geographic scope?
ALTÉRRA has a global investment focus, with particular emphasis on Asia and the Middle East & North Africa. This broad geographic scope allows the fund to engage with diverse markets and address various climate challenges.
What kind of support does ALTÉRRA provide to portfolio companies?
ALTÉRRA provides catalytic capital to its portfolio companies, enabling them to scale their climate solutions. The fund's investment philosophy aligns financial returns with environmental impact, fostering a collaborative approach to achieving climate goals.
What is the fund size and structure of ALTÉRRA?
ALTÉRRA has an initial fund size of $30 billion, with plans to mobilize a total of $250 billion by 2030. The fund operates through two main vehicles: the ALTÉRRA ACCELERATION fund ($25 billion) and the ALTÉRRA TRANSFORMATION fund ($5 billion), targeting both developed and emerging markets.
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