Baar-Zug, Switzerland, November 28, 2023
Blue Earth Capital AG (“BlueEarth”), the specialist global impact investor, today announces the successful closing of a multi-asset continuation fund established by RockPort Capital Partners, L.L.C. (“RockPort”), a venture capital firm focused on alternative energy, mobility, and sustainability.
The continuation fund, RockPort Capital Partners III Continuation Fund, L.P., was established to acquire stakes in two existing RockPort portfolio companies, NewLeaf Symbiotics, Inc. (“NewLeaf”) and Qnovo, Inc. (“Qnovo”), from RockPort Capital Partners III, L.P. (“RCP III”) while providing a liquidity option to existing limited partners in the 2008 vintage fund.
NewLeaf is at the forefront of sustainable agriculture technology, with a singular focus on the identification, development and commercialisation of the beneficial microbes called pink pigmented facultative methylotrophs (“PPFMs”). This new class of agricultural microbes is helping transition agricultural products and production to deliver better quality crops, with less impact on the environment.
Qnovo develops intelligent 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. By augmenting battery chemistry with computation and learning software, Qnovo enables batteries to safely charge faster with extended longevity.
The continuation fund transaction provides RockPort with an extended timeline and allows the GP to continue overseeing the next phases of growth at the portfolio company level. As part of the transaction, existing investors in RCP III were provided with the option to take full liquidity or reinvest into the vehicle on a full or partial basis.
Nicolas Muller, Managing Director and Head of Funds & Co-Investments at BlueEarth, commented:, “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. We look forward to working with the Rockport team to support their portfolio engagement, and offering the expertise we have developed from our many years’ experience in impact investing.”
David Prend, Managing Partner of RockPort, added:, “We are pleased to partner with BlueEarth to extend the life of our fund. They bring smart capital to this collaboration given their impact investing expertise and will provide the necessary support for RockPort to help facilitate successful exits for our portfolio companies.”
About Blue Earth Capital
Blue Earth Capital is a global, independent, specialist impact investor, headquartered in Switzerland, with operations in New York, London, and Konstanz. Blue Earth Capital seeks to address the world’s most pressing social and environmental challenges by delivering measurable impact alongside aiming for attractive and sustainable financial returns. The company operates dedicated private equity, private credit and fund solutions. Blue Earth Capital is owned by the Blue Earth Foundation, a Stiftung (charity/trust) registered in Switzerland that focuses on deep impact to support initiatives and business ventures to help deliver a more equitable and sustainable future.
About RockPort Capital Partners
RockPort Capital is a multi-stage venture capital firm that invests in the areas of alternative energy, mobility, and sustainability. For more than a decade, RockPort has partnered with entrepreneurs to foster growth and create value in a broad range of industrial and consumer facing companies whose technologies and products provide innovative solutions to significant worldwide markets.
Blue Earth Capital:
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