The joint venture between HSBC Asset Management and Pollination had been raising two natural capital funds.
Chief sustainability officer Mark Wishnie says concessionary capital is critical to delivering scale and impact from BTG Pactual’s Latin American reforestation strategy.
Adaptation to climate change and increasing agricultural productivity will be key areas of focus for Mandala Capital SSEA Food Fund.
The pair’s venture will pursue nut and superfood investments in Europe, America, Africa and Asia.
The food investment specialist is seeking up to $750m for its follow-on vehicle.
The fund manager has adapted its timberland strategy to farmland and has a partnership in place to receive payments for carbon and methane offsets.
A target size has not been disclosed for the fund, but the firm’s Fund III closed above its C$70m target in 2020.
The firm has invested in more than 80 companies since it was founded in 2020.
Tokyo Gas will use the carbon credits generated by the fund to implement its decarbonization strategies.
Mekong Enterprise Fund IV is nearing full deployment across a diverse range of investments, including in the regenerative agriculture space through biochar fertilizer company Husk.