Verdane Raises €1.1 Billion for Digital, Green Bets in Europe

Verdane has raised €1.1 billion ($1.2 billion) for a new fund to invest in companies working to digitalize and decarbonize the European economy.

The growth investment firm drew commitments from the likes of private and public pension funds, university endowments and insurance companies for the Edda III fund, according to a statement.

“We only invest in companies that pass our 2040 test,” Bjarne Kveim Lie, Verdane’s co-founder and managing partner, said in an interview. “That is those we believe are positioned to succeed in a more sustainable economy.”

Investors were also drawn to the Edda III fund by the ...