Kinterra Capital Bags $565M for EV Battery Minerals Fund

Kinterra Capital, a Canadian private equity shop that invests in and develops infrastructure for mining and processing minerals for batteries and other sustainable energy technologies, has secured $565 million for its first fund, the Kinterra Battery Metals Mining Fund, LP, surpassing its $500 million target.

The fund attracted commitments endowments, foundations, public and private pension plans, consultants, OCIOs and family offices.

Kinterra pursues asset-level investments primarily in North America, Western Europe, and Australia, where essential minerals are sourced and processed into chemicals used in EV batteries and other end goods such as energy storage solutions and renewable technology.

“The structural underinvestment in critical minerals over the past decade has resulted in severely discounted valuations for excellent assets and created a massive need for capital investment, as countries transition to more sustainable energy sources,” said co-founder and co-managing partner Cheryl Brandon.

Kinterra, citing a McKinsey analysis, stated that investments in mining, refining, and smelting will need to increase by $1 trillion to $4 trillion by 2030 to “bridge the great raw material disconnect” caused by the energy shift.

The fund has already made significant investments, including a copper project in Michigan, a nickel project in Quebec and the acquisition of Australian nickel miner Cannon Resources, according to the Wall Street Journal.