– Glentra Capital completed the final close of its debut fund, Glentra Fund I, with total commitments of €565 million and an additional €230 million earmarked for co-investments.
– The fund attracted institutional investors from the Nordics, UK, USA, and Canada.
– Achieving this in today’s difficult fundraising environment marks a major milestone and demonstrates strong investor confidence in Glentra’s team and differentiated strategy.
– The investment focus is on market-innovative and customer-centric energy transition infrastructure in the lower mid-market.
– Steen Lønberg Jørgensen, Partner and Head of Capital Formation and IR, highlighted that raising €565 million plus €230 million of co-investment capital from Europe and North America is an extraordinary achievement, reflecting investors’ trust in Glentra’s capabilities.
– Glentra Fund I has already committed €350 million plus €165 million from co-investors across four market-innovative companies in Europe and the US:
• DVP Solar – agri-PV and BESS projects in Germany, Italy, and France
• Third Pillar Solar – floating solar PV on man-made water bodies in the US
• Kyoto – electrothermal heat-as-a-service solutions for European industries
• energyRe – diversified power and transmission infrastructure in the US
– Glentra acts as an active owner, providing both long-term risk capital and industrial expertise to support portfolio company growth.
– The fund aims to build a portfolio of 6–7 investments and deploy over 1 GW of low-cost, reliable energy infrastructure by 2030.
– These projects are expected to enhance cost competitiveness, energy independence, and decarbonization efforts, abating over 1 million tonnes of CO₂ annually.
– Henrik Tordrup, Managing Partner and Head of the Investment Team, stated that Glentra’s mission is to accelerate the transition to a sustainable energy system focused on cost competitiveness, reliability, and decarbonization.
– The firm targets investments in power generation, storage, grid infrastructure, and electrification of heat and transport.
– Glentra was founded in 2022 and now has a team of over 20 professionals across offices in Copenhagen, London, and New York.
– The team combines deep industrial, financing, and risk management expertise to support portfolio companies and drive the energy transition.
