Summa Equity has announced that it has raised EUR 2.3 billion for its latest impact fund
Summa says Fund III represents an extended investment mandate to invest in primary capital in growth companies. It incorporates the SDG framework focusing on thematic investments in industries supported by megatrends such as resource efficiency, changing demographics and tech. Summa says it is collaborating with the Impact Weighted Accounts (IWA) project at Harvard Business School to assist in quantifying the impact of its funds.
Investors in Fund III include pension funds, insurance companies, foundations and endowments, financial investors and family offices from Canada, the US, the Nordics, UK, DACH, France, Benelux, Singapore, Japan and Australia.
Reynir Indahl, Managing Partner and Founder of Summa Equity says:
“Our societal challenges are increasing, environmentally, socially, and with falling trust and governance issues. All companies are either part of the problem or can be a solution. As we have seen in our portfolio, companies offering positive solutions for society prosper in a turbulent world. With the scale up in Fund III, we hope that Summa can have significantly increase its positive impact on an international scale, investing in companies across the spectrum from young, high-growth companies to more mature firms. Impact investing, or what we call Private Equity 4.0, is becoming mainstream as a growing number of PE firms are adding to their existing capabilities the effective management of impact on “externalities” to address environmental, social, and governance challenges. The growth of Summa Equity over our five-year history and the strong interest we received in our Fund III is further evidence that impact investing has become mainstream.”