ABN Amro earmarked $1.1bn for green technology funding, with Nordic Alpha Partners’ Fund II being its fourth climate-related fund investment.

Solar panel

Image courtesy of ABN Amro.

Dutch financial services group ABN Amro Bank has invested an undisclosed amount in Danish private equity firm Nordic Alpha Partners’ second fund.

Fund II will focus on carbon-neutral technology developers in the Nordic and German-speaking European countries. ABN Amro has also set aside €1bn ($1.1bn) to invest in early-stage companies, funds and hybrid debt and equity funding, having already backed three other climate-focused funds.

“High-growth companies seek not only capital but also partners who can think with them and provide access to their networks,” Floris Lyppens, managing director at ABN Amro Corporate Investments, said in a statement.

“Nordic Alpha Partners is an investor that fulfils these requirements. With this investment, ABN Amro will support these companies to grow into successful market leaders.”

Swedish solar panel design and installation services company Sunroof, German battery producer Stabl and Airwatergreen, a Swedish climate control group, are among Nordic Alpha Partners Fund II’s portfolio companies.

Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.