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Generate Capital raises $1.5B

Illustration of the Earth being covered in hundred dollar bills.

Illustration: Aïda Amer/Axios

Generate Capital on Wednesday morning announced that it's raised $1.5 billion to invest in low-carbon infrastructure.

Why it matters: Generate is one of the most well-funded and longest-running investment firms and infrastructure operators focused on climate.

Details: California State Teachers' Retirement System and Australian retirement system HESTA participated in the raise, as well as existing Generate investors QIC and AustralianSuper.

Of note: The round brings the firm's total raised since its launch in 2014 to $10 billion.

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