Luxembourg – Luther in Luxembourg advised French impact investment fund Citizen Capital and venture capital firm Innovacom on their investment in Luxembourg based start-up SustainCERT, whose ambition is to leverage technology to improve the way carbon emissions can be measured, reported and verified.
Citizen Capital, Innovacom, joined by the Microsoft Climate Innovation Fund, have contributed in SustainCERT’s $10m capital raise.
Luther advised on the due-diligence aspects (corporate, commercial and employment legal aspects) as well as on the overall legal aspects related to the investment of Citizen Capital and Innovacom.
Driven by the mission to accelerate progress towards the Paris Agreement and the 2030 Agenda, SustainCERT will use the funds from this increase to accelerate the deployment of its carbon emissions accounting and verification platform, and mainstream best-practices across carbon markets and corporate Scope 3 reporting.
SustainCERT is the leading global carbon emissions accounting and verification platform for carbon markets and corporate value chains. By using technology to simplify processes, SustainCERT helps project developers and corporates quantify and verify carbon emissions accurately and certify carbon credits and corporate claims in line with leading international frameworks such as Gold Standard for the Global Goals, the Greenhouse Gas Protocol and the Sustainable Development Goals. SustainCERT leverages technology to mainstream best-practice impact verification thereby accelerating progress towards the Paris Agreement and the 2030 Agenda.
About Citizen Capital
Founded in 2008, Citizen Capital is a pioneer and leading European impact investing fund. Citizen Capital mobilizes funds to back high growth companies that build innovative solutions addressing major social and environmental issues. Citizen Capital is an independent company authorized by French market authority AMF managing various investment vehicles dedicated to early stage, growth and expansion capital investments in European start-ups and SMEs, and a thematic fund for agriculture.
Citizen Capital’s portfolio includes some of the most iconic French mission-driven companies, such as OpenClassrooms, Ulule, Deepki, Certideal, or Ipso Santé.
Citizen Capital is the first B-Corp certified fund in France and has adopted the French legal framework of “société à mission”. It is a founding member of the “Communauté des Entreprises à Mission”, the reference body of the purpose-driven companies movement in France.
Since 1988, Innovacom has invested close to one billion euros, supported more than 300 digital start-ups, participated in more than 20 Initial Public Offerings and completed 150 industrial disposals. Innovacom has contributed to several recent successes in a diverse range of sectors: electric vehicles (G²mobility), ad tech (Videoplazza), medical imaging (Olea Medical), digital customer relations (Dimelo), connectivity in trains (21Net Ltd), materials for energy transition (Exagan) or components for smartphones with the Heptagon unicorn.
Innovacom is currently supporting high-potential companies such as Acklio, Antaïos, Aryballe Technologies, Aura Aero, Avicenna.ai, CAILabs, Cozy Cloud, Exotrail, Intersec, Iten, MicroEJ, Matrixx Software, OSO AI, Robart, Upciti or Scintil Photonics.
Its recent association with the Turenne Group, one of France’s leading independent private equity firms, has resulted in a €1,2 billion platform under management. Present in Paris and Marseille, Innovacom is a company certified by the Autorité des Marchés Financiers.
On behalf of Citizen Capital & Innovacom:
Employment: Marie Sinniger (Partner)