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Illustration: Sarah Grillo/Axios

Generate Capital, a sustainable infrastructure finance and development firm, this morning announced a $2 billion fundraise from major institutional investors.

Why it matters: It's a lot of money — company representatives are calling it among the largest single private investments in sustainability.

  • More broadly, it's the latest sign of growing private cash moving into clean technology project finance and companies.

Catch up fast: Generate Capital's announcement comes on the heels of Friday's news that the investment firm General Atlantic is raising $4 billion for a growth equity fund focused on climate technologies.

  • Axios' Dan Primack has more on that announcement here.

How it works: A suite of new and existing investors are behind Generate Capital's $2 billion, led by AustralianSuper and QIC with new investment from Harbert Management Corporation, Aware Super, and CBRE Caledon and others.

  • Generate Capital owns, operates and finances projects in the energy, waste, water and transportation sectors, and the new funding will also fuel expansion into areas like agriculture and smart cities.
  • The company calls itself a "one-stop shop," with services like construction finance and co-development of projects, to name just two.

The big picture: Getting the power, transportation, industrial, building and farming sectors on a low-carbon pathway will require a lot of cash.

  • The International Energy Agency's recent analysis of pathways to net-zero global emissions by 2050 projects that annual clean energy investment needs to more than triple by 2030 to around $4 trillion.
  • Government finance is crucial, "but ultimately the private sector will need to finance most of the extra investment required," IEA said.

Go deeper

Climate groups, unions push Congress for carbon capture funding in infrastructure bills

Photo: Anna Moneymaker/Getty Images

A coalition of groups sent a letter to House and Senate leaders Tuesday morning calling for the infrastructure bills moving through Congress to bolster nascent carbon capture and storage ventures.

Why it matters: This may be the broadest coalition yet put together to advocate for carbon capture and storage policies (CCS).

Manhattan, Westchester prosecutors request evidence from Cuomo investigation

Gov. Cuomo during a press conference in New York City on Aug. 2. Photo: Lev Radin/Pacific Press/LightRocket via Getty Images

The district attorneys for Manhattan and Westchester County on Wednesday requested evidence related to New York Attorney General Letitia James' investigation into sexual harassment allegations against Gov. Andrew Cuomo (D), according to a letter obtained by NBC News.

Why it matters: The district attorneys are investigating if alleged conduct highlighted in an independent report published by James' office that occurred in their jurisdictions was criminal in nature.

Scoop: Buzzy media startup Puck launches in beta

Puck.news

Puck, a splashy new digital media company, is coming out of stealth mode, Axios has learned. The company debuted its landing page, puck.news, on Wednesday, and will officially launch its website in September.

Why it matters: The company has been quietly building a roster of top talent, but hadn't confirmed its branding or exact business plans up until now.