Longbow Capital completes first closing of Longbow Energy Transition Fund II with $150 million in committed capital

CALGARY, Alberta, Nov. 05, 2024 (GLOBE NEWSWIRE) — Longbow Capital, a Calgary-based private equity investment manager with a 27-year history and approximately $1.5 billion in assets, announced the first closing of the Longbow Energy Transition 150 million from leading corporate and family office investors. Fund II (“Fund”) with a capital commitment of USD. BDC Capital, TD Bank Group and Caterpillar Ventures are the principal investors in the Fund.

The total funding goal for the Longbow Energy Transition Fund II is $250 million. The fund has a North American mandate to invest in businesses expected to benefit from the momentum behind the energy transition, focusing on companies that help reduce carbon emissions through efficient and cost-effective solutions. To date, the fund has completed an investment in VoltaGrid, a fast-growing, low-carbon, modular power generation company serving the energy sector, mining, utilities and data centres.

Managing Director, Tyson Birchall, commented: “We are grateful for the continued support of our existing investors and are excited to build on the success we have achieved to date in our energy transition strategy. Developing innovative approaches to support the decarbonisation of our energy system. Increasing power demand from home electrification and mobility is driving manufacturing “Shoring and data center development have fundamentally changed the energy landscape and we believe we are well positioned to benefit from these megatrends.”

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

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

Art Robinson, Managing Director, added: “It’s an incredibly exciting time to be part of the energy transition. The change in the way energy is produced, consumed and financed is transformative and presents a significant long-term investment opportunity. We are driving this change and are key, evolving companies along the way.” “We are committed to supporting innovative solutions that help create businesses.”

About Longbow Capital

Longbow Capital is a Calgary-based private equity investment manager founded in 1997 and a leading investor in the Canadian energy transition sector. Longbow currently has approximately $1.5 billion in assets under management, covering many aspects of the energy and energy industry, including low-carbon energy solutions, energy and power generation, infrastructure, services and technology. For more information, please contact Tyson Birchall at (email protected).

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 companies. It supports Canadian entrepreneurs with the ambition to stand out on the world stage by providing businesses with a wide range of capital, from seed investments to growth capital and fund investments. Visit bdc.ca/capital.

Source: Longbow Capital