Wellington Management announced final close for its Climate Innovation Fund

Wellington Management announced the final close of the Wellington Climate Innovation Fund (CIF), with US$385 million in commitments.

CIF is Wellington’s first fund to invest solely in private companies developing solutions to help mitigate and adapt to climate change. The Fund seeks to generate attractive returns for investors by investing in late-venture and early-growth companies developing tech-enabled solutions such as software, software-enabled hardware, sensors, AI, data and analytics in areas including energy transition, sustainable buildings and cities, transportation and mobility, industrial automation, enterprise digitization, sustainable consumer, and food and agriculture innovation.

The Fund’s broadly diversified client base includes sovereign wealth funds, pensions, insurance companies, banks, family offices and high-net-worth individuals.