Planet First Partners Announces €450 Million Final Close of Growth Impact Fund

March 2023

March 1, 2023 – FIRSTavenue, a leading global private funds placement agent and investment advisory firm specialising in private credit, real assets, private equity and associated capital solutions, would like to congratulate Planet First Partners, the growth equity investment platform, on the final close of its growth impact fund at €450 million.

The fund, which was oversubscribed, surpassed its initial target size of €350 million and received a commitment from Ingka Investments – the investment arm of Ingka Group, the world’s largest IKEA retailer.

Capital from this fund will be deployed in companies in their growth stage (Series B, C & D) with proven products and services, whose technologies will deliver the transition to a sustainable economy. The focus will be on investment opportunities that maximise social, environmental and economic returns. With investments of up to €50 million, Planet First Partners will take minority positions as lead or co-lead investor with a Board seat and strong minority rights.

Founded in 2020, Planet First Partners is classified as an Article 9 Fund under the EU’s Sustainable Finance Disclosure Regulation, whereby investments are made exclusively in organisations which contribute to an environmental objective or an investment in an economic activity that contributes to a social objective.

Paul Buckley, Managing Partner and Co-Founder at FIRSTavenue, said: “We congratulate the Planet First Partners team on this achievement, and we are proud to have played a role in this success. We look forward to continuing our strong partnership with Planet First Partners.”

FIRSTavenue served as the exclusive placement agent for the fund.

About Planet First Partners

Planet First Partners is a growth equity investment platform that invests in and partners with disruptive entrepreneurs to scale tech-enabled businesses that combine a purpose-driven mission, profitable growth, and a people-centric culture. As an Article 9 fund, Planet First Partners applies rigorous methodology for sustainable investing and commits to always follow the highest standards and strictest criteria. Our processes have been verified by Bluemark to ensure compliance with the Sustainable Finance Disclosure Regulation’s requirements for Article 9 funds.

Current portfolio companies include world-leading industrial green hydrogen electrolysis company Sunfire, and Submer, whose immersion cooling technology is making data centres more sustainable. As per Article 9 requirements, portfolio companies are analysed in-depth following strict guidelines to verify that they deliver a substantial contribution to sustainability goals while also doing no significant harm to any goal, and investment decisions align with best-in-class guidelines and regulation.

Founded in 2020, Planet First Partners is made up of a highly experienced, qualified team of investment and sustainability experts focused on maximising and optimising sustainability. The team is complemented by a mission-aligned advisory board, made up of global business and political leaders.

For more information on Planet First Partners, please visit https://www.planetfirst.partners/.

About FIRSTavenue

FIRSTavenue is a leading independent global placement agent and advisory firm specialising in private credit, real assets, private equity and associated capital solutions. Since the firm’s inception in 2006, it has raised more than $28 billion of capital commitments on behalf of its clients. The firm maintains a global presence via its headquarters in London and offices in New York, Hong Kong and Hamburg, and today consist of 49 professionals. www.firstavenue.com

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