GEF Capital invests ₹500 cr in e-mobility
Summary
Private equity firm GEF Capital Partners said it has invested a total of more than 500 crore in e-mobility companies, Electra EV and Hero Motors Ltd.This is part of the climate-focused investors strategy to grow its bets on climate and sustainability opportunities in India. The fundraising is part of Hero Motors plan to invest Rs1,500 crore over the next three years to boost its offerings of EV components. But the company did a fantastic job experimenting with battery technology," said Raj Pai, one of GEFs founders and managing partner.The EV space today is a very broad spectrum. Second is climate adaptation, which is introducing resiliency into business and the third is circular economy," he said.Agriculture is one of the sectors that the investment firm is focusing its efforts on.Agri is an emerging area. They try to introduce features which make the crops more resistant to climate impact," said Pai.The firm is seeing a strong deal flow on the agritech front, he added.Pai added that the fund is also exploring opportunities in the circular economy space such as waste management, plastic recycling.He added that the firm is also deeply involved in helping its portfolio companies build their net zero strategies as the focus on ESG takes centre stage in boardrooms.Every company today has to demonstrate their pathway to net zero.