GREENWICH, Conn.--(BUSINESS WIRE)--Volery Capital, a private equity firm focused on growth investments in the financial services industry that benefit people and the planet, was selected by ImpactAssets as one of 41 outstanding emerging impact investment managers demonstrating positive social, environmental, and financial impact.
The IA 50 is the first publicly available database for impact investors, family offices, financial advisors and institutional investors that features a diversified listing of private capital fund managers.
“We’re honored to be recognized by ImpactAssets,” said Volery Capital Managing Partner Emanuel Citron. “We have a lot of respect for the ImpactAssets organization, and we share a mission in common – to deliver meaningful impact by harnessing market forces to scale solutions to challenges like climate change and economic inequality.”
Force Multiplier for Impact
Volery was formed in late 2017 by Citron and Danny Stein. The firm targets growth investments in asset management businesses and financial services companies pursuing commercial, specialty and consumer finance, with an impact orientation in:
- Energy Transition: Transitioning to a low carbon economy, e.g., renewable energy, distributed power generation, energy storage
- Resource Efficiency: Accelerating environmental sustainability, e.g., sustainable food & agriculture, natural resource conservation, circular economy
- Workforce and Education: Access to opportunities for advancement, e.g., childhood development, post-secondary education, employment upskilling
- Financial Inclusion & Well-Being: Promoting social and economic resilience, e.g., affordable / workforce housing, financial products & services, health & wellness
Volery’s growth strategy leverages Citron’s and Stein’s experience in private equity, connectivity to institutional investors and capital markets, and expertise in business building. The firm seeks to help build the financial services infrastructure needed to support the continued expansion of the impact category. Its impact investment process uses its alpha framework to evaluate investments, create an impact thesis for every investment, and track the resulting outcomes.
In 2018, Volery made its initial investment in Renewable Resources Group (RRG), a Los Angeles-based sustainable agriculture and water asset manager, co-investing with two family offices. Volery worked closely with RRG to launch its first large, co-mingled fund, the Sustainable Water Impact Fund, which was supported by The Nature Conservancy and raised over $900 million with a final close in April 2020. RRG recently launched a SPAC, the Sustainable Development Acquisition Corp, targeting investments across the water, food and agriculture, renewable energy, environmental resource management and supporting technologies sectors.
In 2019, Volery announced a partnership with Ares Management Corporation (NYSE: ARES), a leading global alternative investment manager with approximately $197 billion of assets under management as of December 31, 2020. Ares became a minority equity investor in Volery and committed capital to support the firm’s operating and investment activities.
In 2020, Volery made an investment in Sustainable Development Capital LLP (“SDCL”), an energy efficiency real assets manager based in London. SDCL manages a series of private funds that develop and construct renewable and energy efficiency projects and a publicly listed vehicle, SDCL Energy Efficiency Income Trust (LSE:SEIT) that owns operating assets with long-term PPA’s and high-quality credit counterparties. Since Volery’s investment, SDCL has continued to raise additional investment capital during the COVID era, including over £250 million SEEIT issuances in October 2020 and February 2021.
Volery has analyzed more than 1,000 impact-oriented asset managers and financial services firms. “We want to be a force multiplier in the impact investing ecosystem, connecting institutional investors who are looking to deploy capital in impact with the financial services businesses that are addressing the system-level risks society faces,” said Citron. “By doing so, we hope to help accelerate market growth and amplify the positive impact these businesses are having on people and the planet.”
About Volery Capital Partners
Volery Capital is an impact private equity firm focused on financial services. The firm makes growth-oriented investments in leading financial services businesses that generate measurable positive impact alongside market-rate financial returns. Volery is a value-added partner to its portfolio companies, including providing strategic support across capital raising, corporate development, and impact measurement and management. For more information, visit www.volerycapital.com.
About the ImpactAssets 50
The IA 50 is the first publicly available database that provides a gateway into the world of impact investing for investors and their financial advisors, offering an easy way to identify experienced impact investment firms and explore the landscape of potential investment options. The IA 50 is intended to illustrate the breadth of impact investment fund managers operating today, though it is not a comprehensive list. Firms have been selected to demonstrate a wide range of impact investing activities across geographies, sectors and asset classes.