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Eurazeo raises $300 million for the Planetary Boundaries Fund

Eurazeo raises $300 million for the Planetary Boundaries Fund

French private equity investor Eurazeo announced that it had raised a total of 300 million euros (314.64 million dollars) for a new fund investing according to the limits of our planet. It also made its first investment into an agricultural pest control firm.

Managing Partner Sophie Flak said that the money raised by the Eurazeo Planetary Boundaries Fund at its first closing, 10 months after the marketing launch of the fund, was 40% of the target of 750 millions euros.

Investors from various institutions, such as insurance companies, asset management firms and family offices, made the demand.

Flak explained that "our fund isn't based upon regulation or politics. It's based upon the physical world... You're seeing droughts, storms and fires."

This fund is about the challenges of the physical world.

The fund has an advisory panel of experts in economics and the environment who use a "buy and build" strategy to help scale-up small and medium-sized businesses.

The first investment of the fund was Bioline AgroSciences. This company designs, manufactures and markets biologically-based solutions that prevent pests from destroying crops like berries, flowers, and vegetables.

The fund, along with family-owned impact fund Aurae will own a majority stake. This company operates six factories in the United States as well as Britain, France and Spain.

(source: Reuters)