Clean Growth Fund III, LP

United States of America

Last updated 12 May 2020, by Impactyield.

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Clean Growth Fund III will provide growth capital to companies with great potential to reduce mankind’s impact on the environment. The fund will also make secondary investments in the funds of established cleantech firms.

Clean Technology is one of the biggest private equity investment opportunities today. The world is undergoing a major transformation as industries respond to global demographics shifts, increasing demand for resources, national security interests, concerns about climate change and the rapidly declining costs of renewable energy systems.

Through North Sky Capital’s Clean Growth Fund III, investors can participate in global opportunities within an expanding and rapidly evolving universe of managers, companies and technologies. The Fund’s highly selective mix of fund and direct investments allows for multiple levels of diversification and risk mitigation. The Fund invests in CleanTech companies that positively impact the environment by improving operational performance via reduced costs, inputs, energy consumption, waste or pollution.

The primary focus of the Fund is generating an outstanding return to investors. Addressable markets are measured in billions, often trillions, of dollars. The global opportunity to invest in impactful investments is enormous.

Financial description

Clean Growth Fund III is an opportunistic investment vehicle targeting a mid- to high-teens net IRR for its LPs.

7 years

of track record


the year funded

24,000,000 USD


SDG goals

SDG targets

Encourage companies to adopt sustainable practices and sustainability reporting

Sustainable food production and resilient agricultural practices

Increase global percentage of renewable energy

Expand and upgrade energy services for developing countries

Key performance indicators

Fund overview

Asset manager: North Sky Capital

Product track record: Fund has 7 years of track record

Target IRR: n.a.

Committed Capital: n.a.

Target return category: Risk-adjusted market-rate of return

Fund domicile:

Product status:

Style/Stage: ,

Inception year: 2016

Vintage year: n.a.

Target region: ,

Target close date: n.a.

Product term: 10 years (+2 years ext)

Assets under management: 24,000,000 USD (US Dollar)

Investment size: Min: 250,000; Max: 6,000,000; Avg: 2,500,000

Co-investment policy:

Currency of investments:

Currency for fund / product figures:

Fund investments to date: 7

Fund investments to date exited or repaid: 0

Management fee: 0.65%

Carried interest: 5%

Hurdle rate: 6%%

GIIN Investors' Council Investment: No

Limited Partners / Investors: TBD

Limited Partner / Investor Type: Endowments/Foundations, Family Office, Pension Funds, Other Institutional Investors


E-mail: n.a.


Phone number: 612-435-7150

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Impact Performance


Impact thesis

Our investments seek to directly reduce the impact of humanity on the earth and the environment by reducing carbon emissions, pollution and water usage and by increasing the use of renewable resources.
We are highly selective in manager selection, investing only with those managers who share our view of how to approach CleanTech investing. We plan to invest with managers whose aim is to provide growth capital to innovative CleanTech companies that will have a profound impact on our environment, and create a good return for investors. On the direct investment side, we will invest in growth companies that will accomplish this end of improving the world in which we live and yielding a good return. CleanTech sectors targeted include energy (energy storage, grid optimization, energy efficiency products, geothermal, solar, wind, waste-to-energy), water (desalination, re-use, wastewater treatment, infrastructure maintenance, pump technology), transportation (vehicle electrification, fleet management, non-food biofuels, batteries), housing (lighting, insulation, building automation, renewable and advanced materials), sustainability (recycling / re-use, clean chemicals and packaging, pollution control) and food (irrigation, aquaculture, organic).

Impact Management


Financial benchmark

Term Description:


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