General Atlantic Targets $4 Billion for New Climate Strategy (1)

General Atlantic, the dealmaker that has backed Uber Technologies Inc. and Airbnb Inc., is carving out a new strategy to pursue investments in fast-growing companies related to climate change.

The BeyondNetZero venture will seek out growth equity deals that focus on decarbonization, energy efficiency, resource conservation and emissions management, New York-based General Atlantic said Friday in a statement.

The growth equity shop is talking to investors and targeting roughly $3 billion of new cash for the fund -- its first focused on climate change, according to a person familiar with the matter. The firm will also put about ...