Singapore's Temasek and BlackRock venture closes $1.4bn climate fund

SINGAPORE -- A joint venture between Singapore state investor Temasek Holdings and BlackRock, the world's biggest asset manager, has raised $1.4 billion for its first and one of the largest venture capital funds dedicated to investing in firms with technologies to reduce carbon emissions.

The partnership, called Decarbonization Partners, on Thursday announced the final closing of its fund, which was joined by over 30 institutional investors, in addition to commitments from BlackRock and Temasek. Investors include Japanese lenders Mizuho Bank and MUFG Bank, and France's TotalEnergies.