Scoring a “Tofurkey”!
Any bowler out there knows that scoring 3 strikes in a row is called a “Turkey”. Well, what do you call it when a climate fund announces 3 exits in a week? Maybe a “Tofurkey” since the carbon footprint is lower?
With just 32 investments in our first two funds, we had the great honour and pleasure of announcing 3 exits in the second last week of June. Now, there is some fineprint here. The Sustain.Life and Pantree exits officially closed during that week, and Keela closed a while ago but we were waiting to make a coordinated announcement with their acquirer. Similarly, Pantree’s buyer requested that exit details are not shared on social media. In a time when many investors and LPs are looking for liquidity/DPI, we are happy to share this good news and lock in some returns. And of course, we are thrilled for our founders, who were able to execute on a plan that secures the long term funding needed for their businesses to continue scaling. We feel our biggest potential winners are still operating in the portfolio so there is still much work to be done.
