Aiga Capital Partners ("Aiga") announced the closing of its debut climate infrastructure fund with more than $240mm of capital commitments from 7 limited partners comprising pension funds, family offices, fund of funds, OCIOs, foundations, and other institutional investors.
Aiga's investments will be used by asset development platforms to accelerate the growth and materialization of sustainable infrastructure across North America. Aiga, co-founded and led by Managing Partners, Angel Fierro and Rory Meyers, offers flexible capital solutions with uses of proceeds ranging from pre-construction project development to project acquisitions, interconnection and other deposits, equipment purchases and other capital needs throughout the asset lifecycle; in each case, tailored to match the needs and profile of each development company. The fund's investment products span various types of asset-backed structured debt and equity which is aimed at bringing more sustainable projects to fruition.
Aiga's initial investments include (i) a credit facility for Nexus Renewables Inc., a renewable energy platform based in Toronto, Canada, engaged in the development, acquisition, financing, construction and operations management of distributed and utility-scale solar and storage facilities in the United States and Canada, and (ii) a credit facility for Spearmint Energy, a leading Miami, Florida-based developer, owner and operator of BESS projects throughout the U.S.
"We're excited to bridge this meaningful financing gap in the development lifecycle of sustainable assets and to partner with pioneering entrepreneurs across the energy transition landscape. The Aiga team is extremely proud to share this journey alongside all of our investment partners in this inaugural fund and all those who supported our trek to the starting line," said Rory Meyers, co-founder and Managing Partner of Aiga.
"There's a significant demand for ready-to-build sustainable infrastructure, but a scarcity of flexible and innovative capital to fund pre-construction project development needs. We have assembled like-minded capital partners and a stellar team that is focused on the opportunity to provide tailored capital solutions to middle market operating platforms that are catalyzing the growth of sustainable infrastructure in North America," commented Angel Fierro, co-founder and Managing Partner of Aiga.
