Minneapolis-based impact investor North Sky Capital has closed two clean energy funds that together raised over $300 million.
The firm, which invests on behalf of US foundations and family offices, said it has held a final close for its Clean Growth Fund IV on $63 million, beating its $50 million target. The fund is North Sky’s sixth impact fund, and its investments are focused on renewable energy, resource efficiency and job creation. The firm has already made four investments from the fund totaling $14.5 million, or 23 percent of the fund’s capital.
North Sky also closed its Alliance Fund II on $240 million. The fund is targeting greenfield investments in solar, wind, hydro and energy storage projects and has made six investments, deploying 45 percent of its capital, or $108 million. Investors include Taft Hartley pension plans, foundations and family offices.
“We have an unparalleled depth and breadth of view and understanding of private equity and infrastructure investment opportunities,” North Sky managing director Mike Pohlen said. “We are using our experience and leadership position to create value for our investors and make the world a better place.”
North Sky launched in 2000 and has since committed over $1.2 billion in capital across various funds.