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Laxman Pai, Opalesque Asia:

Generation Investment Management, the firm co-founded by environmentalist and former Vice President Al Gore, announced that it has closed a $1bn Sustainable Solutions Fund for growth investments.

The sustainable investment management firm with approximately $22bn of assets under management said in a press release that Sustainable Solutions Fund III will look to invest between $50m and $150m each in companies helping the health of the planet or individuals, or those driving financial inclusion.

It plans to put the $1bn to work backing later-stage startups that work on sustainability in at least one of three areas - environmental solutions; healthcare; and financial inclusion, including the future of work - and are creating financially sustainable businesses out of that focus.

"This fund builds on the firm's 15-year commitment to investing globally in companies which it sees are accelerating the transition to a sustainable economy," said the release.

"We believe that we are at the early stages of a technology-led sustainability revolution, which has the scale of the industrial revolution, and the pace of the digital revolution," said Al Gore, Chairman and Co-Founder.

"Globally, we see the rapid adoption of sustainable solutions at an important inflection point. By taking advantage of technology cost-down curves, companies can drive sustainable transition through profitable growth and innovative business models," said......................

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