Alternative investment firm Hamilton Lane has raised $370 million for the final close of its second impact and sustainability fund – 3.75x larger than its predecessor fund – and more than $500 million in separate accounts as part of its broader sustainable investment platform.

This significant financial milestone strengthens the firm’s stance as a dominant player in the field of sustainable investing.

The closed-end vehicle will be used to invest in companies with a focus on clean energy transition, sustainable processes, health and wellness and community development – through buyout, growth, late-stage venture and real assets deals.

Conshohocken, PA-based Hamilton Lane has tapped the fund for nine investments to date, with a specific emphasis on growth investments that “leverage transformative technologies, innovation and efficiency.”

“Across our sustainable investment platform, we are seeing a broad and diverse spectrum of investment opportunities in companies that offer compelling economic solutions to the problems of the world today,” noted David Helgerson, Managing Director and Co-Head of Impact

The firm said the fund has had strong performance out of the gate, breaking the J-curve in just three quarters. It added that 2023 deal flow was tracking at 30% above the record deal flow numbers reviewed over the same period in 2022.

Hamilton Lane has been actively executing impact investment programs for two decades, and as of the end of 2022 it manages more than $2.9 billion in impact strategies.