Blue Earth Capital (BlueEarth), a Switzerland-based impact investor, has raised $113 million in commitments in the first close of its inaugural, evergreen, semi-liquid impact private credit fund, according to an announcement on Tuesday.
The fund, which held its first close in October 2024 was anchored by a select group of anchor investors, including family offices and a large pension fund. Following the initial closing, the fund will continue to pursue private credit investments across developed and emerging markets.
Earlier this year, BlueEarth had secured $308 million for BlueEarth Climate Growth Fund I and an additional $70 million in commitments for its tailored mandate and co-investments. The fund will invest in companies in North America and Europe that are working on mitigating climate change—energy transition, buildings and mobility, climate intelligence, production & consumption, and food & agriculture.
This new milestone aligns with BlueEarth’s comprehensive ‘total impact’ strategy, aimed at driving both environmental and social progress globally while offering market-competitive returns and enhanced liquidity options for limited partners (LPs), the firm said in the announcement.
The impact private credit asset class has seen strong growth in recent years, driven by investors looking to combine meaningful impact with strong returns. Private credit impact investments can provide valuable portfolio diversification benefits, including low correlation to traditional assets such as bonds and equities and a focus on more resilient, defensive essential services.
Amy Wang, head of private credit of Blue Earth, stated: “The launch of our new semi-liquid, open-ended impact private credit fund represents a significant milestone for our firm, reflecting the continued growth and rapid maturity of impact as an investment approach. The fund harnesses the full power of our global platform, offering investors exposure to both developed and emerging markets through a single, diversified, vehicle.”
Daniel Perroud, head of fundraising & investor relations, added, “We are thrilled with the strong resonance of this innovative fund. [..] The flexibility offered by this platform underlines the appeal of impact investments and their potential to address some of the world’s biggest challenges. We are deeply grateful for the support of our partners whose anchor commitments are crucial for the Fund’s success.”
As an impact investment firm with operations in New York, London, and Konstanz, Blue Earth addresses urgent social and environmental challenges by delivering measurable impact alongside market-rate financial returns. Its investment offerings span private equity, private credit, fund solutions, and separately managed accounts in startups and multiple sectors.
It has over 31 companies in its portfolios spread globally, including Quatt (Netherlands), Arya (India), TS Conductor (the US), Samunnati (India), SWTCH (Canada), Q Collection (Singapore), and others since founded in 2015.
The firm is owned by the Blue Earth Foundation, a Swiss-registered charity dedicated to fostering equitable and sustainable development worldwide.
