Lightrock, a global impact private equity firm investing into scalable and tech-driven businesses around the key impact themes of people, planet, and productivity, closed its Lightrock Growth Fund I at USD 900m, with investments from LGT and its private clients.
Lightrock is a global private equity platform headquartered in London, backing purpose-driven entrepreneurs tackling the world’s biggest challenges. With over 60 investments, the company already has one of the largest impact-focused growth portfolios in Europe, Latin America and India. More recently, Lightrock has also started building out a portfolio of investments across Sub-Saharan Africa. It invests in companies that pursue scalable and technology driven business models around the key impact themes “people”, “planet” and “productivity”. Specific investment sectors within these themes include education, healthcare, access to finance, mobility, transportation, renewables and circular economy transition. Lightrock investments across these themes and sectors align with global mega-trends and contribute to the United Nations Sustainable Development Goals.
The Lightrock Growth Fund I invests growth capital into businesses predominantly at series B or C in the target regions Europe, Latin America and India and in Lightrock’s key impact themes. With LGT as its anchor investor, the fund has already invested into 26 companies, including five unicorns, across these regions and themes. The portfolio includes Infarm, an urban farming business from Germany providing innovative modular vertical farms that can be placed in grocery stores and retail distribution centers; German sustainable aviation company Lilium; PharmEasy, the largest e-pharmacy company in India; and Creditas, a leading fintech company in Latin America. The fund’s most recent investments include digital insurer wefox, graph database platform Neo4j, and a follow-on investment in MedTech company CMR Surgical, where Lightrock is invested since 2016.
Investors in the Lightrock Growth Fund I include LGT Private Banking clients, who have invested via the Lightrock Evergreen Fund, and LGT Group Foundation. The Lightrock Evergreen Fund was launched by LGT Private Banking and met large interest and demand, resulting in a five-fold oversubscription of the initial target size (the Fund is closed for new subscriptions). LGT is a leading international private banking and asset management group with USD 272 billion in AuM from private and institutional clients. The Lightrock Growth Fund I has been closed at USD 900m of commitments.
Pal Erik Sjatil, CEO and Global Managing Partner of Lightrock, says: “Our global investment focus at the intersection of impact, growth and tech proves appealing to a lot of investors, as the success of the Lightrock Growth Fund I demonstrates. Building on our long-term partnership with LGT and the commitment of the Princely Family of Liechtenstein to entrepreneurship and positive impact, we look forward to backing more purpose-driven founders and their teams in scaling their businesses.”