Specialist global impact investor Blue Earth Capital (BlueEarth) has closed a multi-asset continuation fund established by alternative energy, mobility, and sustainability-focused venture capital firm RockPort Capital Partners. The continuation fund, RockPort Capital Partners III Continuation Fund, was created to acquire stakes in two existing Rockport portfolio companies, NewLeaf Symbiotics and Qnovo. NewLeaf focuses on the identification, development and commercialisation of the beneficial microbes called pink pigmented facultative methylotrophs. This new class of agricultural microbes assists the agri-food industry in producing better quality crops with less impact on the environment. Qnovo develops lithium-ion battery management software and predictive analytics to improve battery performance in electric vehicles, fleets, energy storage systems and consumer devices with enhanced health and safety. Through augmenting battery chemistry with computation and learning software, the company enables batteries to safely charge faster with extended longevity. Nicolas Muller, Managing Director at BlueEarth, said: “We’re pleased to lead this transaction and build a long-term relationship with RockPort. This provides our clients with exposure to exciting portfolio companies driving climate progress in line with our strategic aims. We believe that impact secondaries are a growing area of the impact market and BlueEarth is keen to play a pioneering role in this field.”
