Mirova, an affiliate of Natixis Investment Managers dedicated to sustainable investing, announces the final closing of its first impact private equity fund, Mirova Environment Acceleration Capital (MEAC)1, which invests in companies offering innovative solutions and technologies to foster the environmental transition.

When launching its dedicated impact private equity strategy in 2021, Mirova's ambition was to combine financial returns with support for the environmental transition by rolling out ‘acceleration capital’ to develop sustainable businesses by addressing major growth-generating trends and supporting innovative solutions and technologies.

Two years after its launch, MEAC has lived up to its promise, raising €211m in commitments, from which 30% come from private clients attracted by the multi-thematic approach of this SFDR Article 9 fund1. This achievement is within the context of the current challenging fundraising environment. Based on the five pillars of its investment thesis - clean energy, circular economy, natural resources, agri-agro technologies, smart cities - MEAC has already rolled out over €80m in 10 European and North American companies and completed one exit2. The fund has also been awarded the Greenfin label3 and is eligible for the Tibi initiative4.

Building on the strategy initiated with MEAC and the development of its private assets offering, Mirova recently launched a second private equity fund dedicated to societal impact. ‘Mirova Impact Life Essentials (MILE)5, which aims to support the growth of French and European companies around four investment themes: knowledge & know-how, well-being & health, responsible consumption, and diversity & inclusion. The first investment will be made public shortly.

Mirova's aim is to enable institutional and retail investors to benefit from potentially attractive long-term returns and risk diversification based on multi-sector holdings, while contributing to society's ecological and social transition. Mirova intends to position MILE under SFDR Article 9, like all its other strategies6.

With this first private equity fund, we are proud to have delivered on our ambitions to invest in unlisted companies displaying a high environmental impact. We already completed ten investments in key sectors of the ecological transition, with the aim of achieving attractive financial returns. We remain convinced that positive impact and profitability go hand in hand, particularly when it comes to companies that are driven by fundamental trends designed to meet specific sustainable development objectives. It is the same conviction that underpins our newly launched MILE fund dedicated to societal transition
Marc Romano
Head of Impact Private Equity, Mirova

Companies invested by MEACOmbrea, French startup specialized in crop management and protection against climatic hazards, sold to TotalEnergies in September 2023 ;
Tallano Technologies, French company whose patented system captures the fine particles emitted by braking systems in the road and rail sectors ;
Agronutris, French biotech company specialized in the production of insect proteins for use most notably in aquaculture and pet food ;
Vestack, a technology company with expertise in the design and construction of low-carbon buildings ;
Naïo Technologies, a pioneer and leader in agricultural robotics aimed at mitigating the consequences of labour shortages and the physical constraints on workers in the sector ;
Norsepower, the world's leading supplier of mechanical sails for cargo ships, contributing to the decarbonisation of the maritime sector ;
Nuventura, German manufacturer of high medium-voltage switchgears, which has developed an alternative to the use of the eternal pollutant SF6 in order to accelerate the decarbonisation of the energy sector ;
Waste Robotics, Canadian company that develops and markets autonomous robots for sorting centers ;
Nline Energy, US developer of energy efficiency projects using high-efficiency micro backpressure turbine technology to generate electricity from the waste heat of industrial processes ;
Gridbeyond, a ‘virtual power plant’ operator, supporting its industrial and commercial customers in decarbonising their energy mix and providing electricity network operators with the flexibility they need to maximize the penetration of renewable energies.

1Mirova Environment Acceleration Capital is a Société de Libre Partenariat (SLP) incorporated under French law (FPS, FIA), comprising several separate sub-funds, open to subscription by eligible investors as defined in its regulations. Mirova is the management company. This fund is not subject to approval by any regulatory authority.
2The Sustainable Finance Disclosure Reporting (SFDR) Regulation aims to provide greater transparency in terms of environmental and social responsibility within the financial markets, notably through the provision of sustainability information on financial products (integration of sustainability risks and negative impacts). Methodology available here.
3See box at the bottom of this document.
4The Greenfin label identifies investment funds that finance the green economy and encourages the creation of new green funds. It is sponsored by the French Ministry for the Ecological and Solidarity Transition. References to a ranking, award or label do not prejudge the future results of the ranking, award, label, fund or manager.
5Launched in 2019, the Tibi initiative aims to increase the financing capacity of technology companies by mobilising savings from institutional investors, particularly insurance companies. References to a ranking, prize or label do not prejudge the future results of the fund or manager. For more information, go to the French Treasury website.
6Mirova Impact Life Essentials (MILE) is a Société de Libre Partenariat (SLP) under French law (FPS, FIA) made up of several distinct sub-funds, open to subscription by eligible investors as defined in its regulations. Mirova is the management company. This fund is not subject to approval by any regulatory authority.
7With the exception of some dedicated funds and funds delegated by management companies outside Groupe BPCE