Impact fund manager Planet First Partners has raised €170m


Frédéric de Mévius and Alexander de Wit co-founded Planet First Partners, which has so far raised more than two-thirds of its targeted €250m impact investment fund. Photo credit: Planet First Partners 

A Luxembourg-headquartered impact investment fund said it was on track to raise €250m for its first funding round.

Planet First Partners is focused on late-stage and growth investments in European consumer technology companies with global ambitions, and “with products that are good for the planet, good for people and good for investors,” the company said on 28 April.

The firm is domiciled in Luxembourg, with portfolio management run out of London. It aims to tap the growing interest in investments that meet ESG criteria.

PFP said it has already raised €170m “with commitments of a further €70m involving investors from the UK, France, Belgium and southeast Asia.” The firm is seeking cash from family offices and institutional investors. Adrien Invest--an investment vehicle for AB Inbev shareholders which has $110bn in assets under management--is already on board, PFP stated.

PFP will take stakes in companies developing “sustainability, nutrition and health technologies”. They have already taken a minority position in Polymateria, a London-based outfit developing biodegradable and compostable plastics.

Frédéric de Mévius and Alexander de Wit started PFP in 2019. De Mévius was previously CEO and chairman, and de Wit was a member of the executive committee, of Verlinvest, a Brussels-based family-owned investment company focused on late-stage venture capital and private equity stakes in consumer brands.

PFP’s advisory board includes Guy Verhofstadt, a former Belgian prime minister and current MEP, Lindsay Pattison, chief client officer at WPP, the world’s largest marketing and communications group, and Connie Collingsworth, chief operating officer of the Bill & Melinda Gates Foundation, one of the world’s largest charities.