The $9 trillion financial management firm Blackrock is collaborating with the $313 billion Singapore investment firm Temasek to back companies developing technologies and services to help create a zero emission economy by 2050. The two mega-investment firms will invest an initial $600 million to launch Decarbonization Partners, and look to raise money from investors committing […]
By Susanna Rust2021-04-13T14:58:00+01:00
BlackRock and Singaporean sovereign wealth fund Temasek are establishing a partnership to invest in private companies that provide solutions and technologies which will reduce and potentially eliminate carbon emissions, according to a joint announcement.
Dubbed “Decarbonisation Partners”, the partnership will launch a series of late stage venture capital and early growth private equity investment funds that will focus on accelerating decarbonisation.
BlackRock and Temasek said they intended to commit a combined $600m (€503m) in initial capital to invest in funds launched by the partnership. They said the funds would also raise third-party capital from investors “committed to achieving a net-zero world while also seeking to obtain long-term sustainable financial returns”.
New Decarbonisation Investment Partnership to be backed by an initial $600m, with a view to raising billions of dollars for late stage venture capital deals