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North Sky Capital’s Clean Growth Fund IV

This fund buys other investors’ positions in clean tech venture capital and private equity funds at a steep discount – this is called the “secondary market”.

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Investment

$7.5 million; originated in 2017.

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Rationale

For investors the emergence of disruptive technology is not a smooth, straight path upward; rather it stops and starts, bubbles and bursts. North Sky evaluates and purchases other investors’ positions at a deep discount. While this investment does not create new clean tech businesses, a fully functioning secondaries market is a cornerstone of the private equity marketplace. It also diversifies McKnight’s impact investing portfolio.

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Returns

Targeting market-rate returns, however no financial returns to report to date; fund is in acquisition phase.

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Lessons Learned

Too early to report.

Photo Credits: Wikipedia Creative Commons

Disclaimer of Endorsement: The McKnight Foundation does not endorse or recommend any commercial products, processes, or service providers.

Last updated 11/2017

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