1/2/2023 0 Comments Lightsmith group jay koh![]() ![]() This reduces the risks of other investors coming into the fund.ĭeveloping countries alone face a $300 billion a year shortfall by 2030 in financing to help them gird for potentially destabilizing effects of climate change. In turn, the GCF would shoulder a larger share of potential losses, if the investments do not pay out. Other investors are ahead of the UN venture in receiving cash when the fund’s deals pay out, according to a GCF funding proposal. Lightsmith’s fund is the first private sector fund investing in adaptation, according to the GCF. ![]() “How can we make good investments that can help generate great returns at the same time as addressing this problem, which will be with us now in some form and an increasingly complex way forever?” said Koh. Lightsmith will focus on agriculture analytics, water, food, geospatial mapping and imaging, catastrophe-risk modeling and supply chain analytics, with a geographical focus on Rwanda, South Africa, Brazil, Mexico and the Caribbean. Other investors include the European Investment Bank, the German Agency for International Cooperation, the Nordic Development Fund and PNC Financial Services Group. The Rockefeller Foundation has invested in the Craft fund through its Zero Gap Fund initiative, which supports work toward meeting the UN Sustainable Development Goals. The GCF has yet to raise its targeted $100 billion a year. The fund’s largest investor is the Green Climate Fund (GCF), a UN project created in 2010 to channel money to developing economies that face some of the highest risks from climate change and are least responsible for causing it. Lightsmith’s initial target for the fund was $250 million, according to public documents, but it decided to wrap up fundraising before reaching it. company that makes panels that harvest water from air, and Wa圜ool Foods and Products, an Indian agricultural distribution company that seeks to eliminate the food waste that results when food gets stuck in distribution centers. The Lightsmith Climate Resilience Partners fund has announced investments in two companies. They are Source Global, a U.S. Department of Energy’s advanced-energy research department. agency Overseas Private Investment Corporation and Sanjay Wagle, who has worked at VantagePoint Capital Partners and for the U.S. who was also chief investment strategist at the former U.S. The firm was founded in 2016 by Jay Koh, a former dealmaker with Carlyle Group Inc. and Siguler Guff & Co. ![]() Startup private equity firm Lightsmith Group raised $186 million for its first fund to invest in technology that could combat the effects of floods, droughts, storms and other climate disruptions. ![]()
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