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Samreen Ahmad · · 1 min readGIC, Sequoia, Primavera to pour over $1b into Chinese greentech firm
“Greentech company Envision Group is receiving over US$1 billion in investment by Singapore’s sovereign wealth fund GIC along with private equity firms Sequoia Capital and Primavera Capital, to accelerate the pace of energy transition and explore net zero opportunities through strategic partnerships,” according to a Business Times report.
Details:
- The fresh funds will enable Envision Group to mobilize capital investors for building a net-zero economy, according to its CEO Lei Zhang.
- Envision was the first company in mainland China that committed to running on 100% renewable electricity by 2025.
Dive deeper:
- Greentech solutions have been taking center stage of late. In April, Temasek said it had partnered with investment management firm BlackRock to launch a series of late-stage venture capital and early growth private equity funds to focus on advancing decarbonization solutions.
- Southeast Asian super app Grab in June announced a carbon offset feature, which can help its users reduce their carbon footprint when using the company’s offerings for travel. (Read: The rise of cleantech in Southeast Asia)
Editing by Collin Furtado and Arpit Nayak
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