$750 m Climate Solutions Investment Platform launched at COP28

03 / 12 / 2023

By Marwa Nassar - -

Investcorp, an alternative investment management firm, launched a $750 million Climate Solutions Investment Platform at the 28^th United Nations Climate Change Conference (COP28) with an aim to provide growth capital to companies that provide products, services, and technologies that drive decarbonization and address the impacts of climate change.

The platform is launched in collaboration with ‘Innovate for Climate Tech’ – a coalition between Masdar City, Tencent, and Catalyst that was facilitated by the COP28 Presidency.

The Innovate for Climate Tech coalition was launched in November 2023. Facilitated by the COP28 Presidency, it is anchored by Masdar City, the pioneering sustainable urban community and world-class business and technology hub in Abu Dhabi; Tencent, a world-leading internet and technology company headquartered in China, and Catalyst, a startup technology accelerator based in Masdar City.

As an Investment Partner within the coalition, Investcorp will be able to tap into the coalition’s knowledge base and leverage its networking opportunities to help guide its allocation.

“We are delighted to welcome Investcorp to the Innovate for Climate Tech coalition. Their commitment towards addressing the impacts of climate through technology aligns with the COP28 commitment towards supporting, promoting and facilitating the deployment of climate technologies. By working together and building a platform for innovation and investment we can create opportunities for sustainable economic growth and employment, especially in those regions who need it the most,” said Adnan Amin, CEO of COP28 UAE

“Our focus on scaling commercially proven climate solutions provides the most attractive risk-return and delivers the highest impact by helping corporates and consumers achieve decarbonization targets within accelerated timeframes,” said Rishi Kapoor, Co-CEO of Investcorp.

Steve Severance, Masdar City’s director of growth added, “We are proud to welcome Investcorp as an Investment Partner to the coalition in our effort to advance climate innovation. Masdar City’s steadfast commitment to the climate tech ecosystem is demonstrated through strategic partnerships like these. Our firm belief in working together fuels initiatives that accelerate decarbonization and builds a more sustainable future for generations to come.”

Investcorp made the announcement at the Business and Philanthropy Forum at COP28 in Dubai on December 1. It launched its platform with initial anchor commitments from Bahrain’s Sovereign Wealth Fund Mumtalakat and other Bahrain-based institutions.

Targeting around $750 million of capital investment, the platform’s focus is on businesses at the “inflection point”, where they have matured past many of the risks that face earlier stage ventures and are poised for rapid expansion.

Investcorp is in discussions to become an anchor partner for the Innovate for Climate Tech coalition alongside Masdar City, Tencent and the Catalyst. Some of the latest entities to join the coalition include Siemens, Asian Infrastructure Investment Bank, The Climate Drive powered by the World Business Council for Sustainable Development, Flat6Labs, Gulf Capital, Martin Trust Center for MIT Entrepreneurship, Climate Collective, Startup Nation Central, Rainmaking, Belt and Road Environmental Technology Exchange and Transfer Center, Foresight Group, and Principes Ventures.

The Innovate for Climate Tech coalition brings climate tech innovators, investors, program and knowledge partners together to drive global climate technology ecosystems. The coalition strengthens COP28’s efforts to improve the global climate tech ecosystem and will continue beyond the two-week conference by providing a significant launching ground for expanding the work of its members.

In a pivotal development, the coalition’s anchor partners globally launched TanLIVE, a platform powered by Tencent. This platform serves as a dynamic digital hub for climate action, offering an array of collaborative tools that include community networking, project listings, and access to a thoroughly vetted ecosystem of technology and financial solutions. Tailor-made for entrepreneurs, investors, and researchers, TanLIVE has already garnered over 1,000 registered users from key sectors such as ICT, textiles, transportation, construction, energy, nature-based solutions, and packaging.

“The launch of TanLIVE is a testament to Tencent’s commitment to leveraging technology as a force for good.” Dr. Hao Xu, Vice President of Tencent Sustainable Social Value and Head of Tencent Carbon Neutrality Lab, said, “By providing an online platform for the exchange of ideas among like-minded partners around the world who are committed to working on climate solutions, TanLIVE fosters collaboration and empowers the global community to collectively address climate challenges and drive innovation towards a sustainable future.”