Ara Partners’ new $800M fund will decarbonize old industrial assets

Plenty of startups hit a wall after their first few rounds of funding, having grown too big for venture funds but still in need of cash. For startups specializing in industrial-scale hardware, which includes many climate tech companies, the problem is especially acute because the capital requirements are so large. Infrastructure funds have long filled that gap, but many have been hesitant to dive into climate tech. One firm thinks that spells opportunity, though. Ara Partners recently raised an $800 million infrastructure fund focused on reducing carbon emissions in industrial sectors, which historically have been hard to decarbonize. Ara had initially targeted $500 million, the firm told TechCrunch, but saw strong support from new and existing investors, including pension funds, insurance companies, endowments, foundations, and sovereign wealth funds from around the world. The new fund has already made three investments, including in an Ireland-based household organic waste recycl ... Read full article.