Green private equity firm Vision Ridge raises $700M

Green private equity firm Vision Ridge Partners has raised a $700 million fund.

Why it matters: The firm, with more than $3 billion under management, is focused on investing across the energy, transportation, and agriculture sectors.

Details: Vision Ridge contributed to the $1 billion raised last fall by TeraWatt Infrastructure, an SF-based company aiming to build electric charging infrastructure for commercial fleets.

• Late last year, Vision Ridge pulled in Jules Kortenhorst, then the CEO of influential climate advocacy and research group RMI, to join the firm as a partner.

Zoom in: Vision Ridge's investments include Earthrise, an Arlington, Va.-based energy developer; Vision RNG, a Canonsburg, Pa.-based landfill-to-gas infrastructure developer; and Fjord1 a Norwegian maritime transportation services provider.

What they're saying: "The problem of funding the energy transition is not a lack of financial capacity but that too much is still pointed at the old energy system," Vision Ridge founder Reuben Munger told Axios' Megan Hernbroth in October.