Longbow Capital completes initial closing of the Longbow Energy Transition Fund II with $150 million of committed capital

CALGARY, Alberta, Nov. 05, 2024 (GLOBE NEWSWIRE) — Longbow Capital, a Calgary based private equity investment manager with a 27-year track record and approximately $1.5 billion of assets under management, announces the initial closing of the Longbow Energy Transition Fund II (the “Fund”) with $150 million in capital commitments from leading institutional and family office investors. BDC Capital, TD Bank Group and Caterpillar Ventures are anchor investors in the Fund.

The Longbow Energy Transition Fund II has a total funding target of $250 million. The Fund has a North American mandate to invest in businesses that are expected to benefit from the momentum behind the energy transition, with a focus on companies that help lower carbon emissions through efficient and cost effective solutions. The fund has completed one investment to date in VoltaGrid, a rapidly growing, low carbon, modular power generation business serving the energy sector, mining, utilities and data centers.

Tyson Birchall, Managing Director, commented, “We are grateful for the ongoing support of our existing investors and excited to build on the success we have had to date in our energy transition strategy. We continue to see compelling opportunities to invest in businesses that are developing innovative approaches to support the decarbonization of our energy system. Growing power demand from electrification of the home and mobility, the onshoring of manufacturing and data center development has fundamentally changed the energy landscape and we believe we are well positioned to benefit from these megatrends.”

Paula Cruickshank, Senior Vice President, Fund Investments at BDC Capital, said: “BDC is thrilled to renew its support for Longbow Capital with an anchor investment in its Longbow Energy Transition Fund II. With Longbow Capital’s experienced team at the helm, we are confident in their ability to empower innovative growth-stage businesses to address today’s environmental challenges, spearhead the transition to renewable energy, and foster a more sustainable, cleaner, and low-carbon future.”

“We are pleased to help support entrepreneurs on the front line of energy innovation through our investment in the Longbow Energy Transition Fund II,” said Drew MacIntyre, Vice Chair, TD Securities. “This investment forms part of TD Securities’ Principal Investing Strategy, established in September 2019, and is aligned with the TD Ready Commitment, the Bank’s corporate citizenship platform.”

Art Robinson, Managing Director, added, “This is an incredibly exciting time to be part of the energy transition. The shift in how energy is produced, consumed, and financed is transformative, and it presents a significant long-term investment opportunity. We are committed to supporting innovative solutions that drive this change and in the process help create significant, thriving enterprises.”

About Longbow Capital

Longbow Capital is a Calgary based private equity investment manager that was founded in 1997 and has been a leading investor in the Canadian energy transition sector. Longbow currently has approximately $1.5 billion of assets under administration spanning many aspects of the energy and power sector including low carbon energy solutions, energy and power production, infrastructure, services and technology. For more information, please contact Tyson Birchall at tbirchall@longbowcapital.com.

About BDC Capital

BDC Capital is the investment arm of BDC, Canada’s bank for entrepreneurs. With over $6 billion under management, BDC Capital serves as a strategic partner to the country’s most innovative firms. It offers businesses a full spectrum of capital, from seed investments to growth equity, as well as fund investments, supporting Canadian entrepreneurs who have the ambition to stand out on the world stage. Visit bdc.ca/capital.

Source: Longbow Capital