# Green for Growth Fund

> Green for Growth Fund is a VC fund in Luxembourg backing Financial Services and Banking. See 10 investments, check sizes, portfolio. Updated Aug 2026.

- Type: VC Fund
- Location: Luxembourg, Luxembourg
- Total investments: 10
- Last investment: Jul 2026
- Lead investor: 60%
- Last updated: Aug 2026
- Website: https://x.com/greengrowthfund/

Green for Growth Fund is a VC fund in Luxembourg focused on Financial Services and Banking. The Green for Growth Fund is the first specialized fund to advance energy efficiency (EE) and renewable energy (RE) in Southeast Europe, including Turkey, as well as in the nearby European Eastern Neighbourhood region and in the Middle East and North Africa (MENA). Initiated by the European Investment Bank and KfW Development Bank, GGF is aninnovative public-private partnership established to reduce energy consumption and CO2 emissions. GGF provides refinancing to Financial Institutions to enhance their participation in the EE and RE sectors and also makes direct investments in Non-Financial Institutions with projects in these areas. The activities of GGF are supported by a Technical Assistance Facility.

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Financial Services | 6 | 60% |
| Banking | 5 | 50% |
| Finance | 2 | 20% |
| Sales | 1 | 10% |
| Energy | 1 | 10% |

13 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Debt Financing | 7 | 70% |
| Post-IPO Debt | 1 | 10% |
| Private Equity | 1 | 10% |

### Country

| Country | Investments | Share |
| --- | --- | --- |
| Turkey | 3 | 30% |
| Egypt | 1 | 10% |
| Jordan | 1 | 10% |
| Serbia | 1 | 10% |
| Armenia | 1 | 10% |

7 countries tracked in total.

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| NOTUS energy | NOTUS energy development is a planning, implementing and operating wind energy company. |  | Private Equity | Jul 08, 2026 |  |
| Yapi Kredi Leasing | Yapi Kredi Leasing aim of carrying out domestic and international financial leasing transactions. | $69.8M | Debt Financing | May 19, 2026 |  |
| Capital Bank Group | Capital Bank of Jordan they are specialized in serving corporate, SME, and high-end retail customers, combining the service range of commercial and investment banking. | $135M | Post-IPO Debt | Oct 27, 2025 |  |
| Evocabank | Evocabank is a bank that specializes in banking services, mortgage loans, and online banking. | $30M | Debt Financing | Oct 21, 2025 |  |
| Beltone Leasing and Factoring | Beltone Leasing and Factoring platform enables companies to unlock critical growth capital and accelerate cashflows through tailored, convenient solutions, and advisory service with confidence that supports long term relationships | $20M | Debt Financing | Jun 22, 2025 |  |
| cimko | Cimko provides CEM I 42.5 R, CEM I 42.5 R - SR5, CEM I 52.5 N, CEM II / AM (PL) 42.5 R, and CEM II / AM (P-LL) 42.5 R cement type products. They offer polypropylene bag weights, big bags, sling bags, stretch hoods, and pallet-less packaging. They support the environmental management process. | $300M | Debt Financing | May 16, 2025 |  |
| AIK Banka | AIK Banka offers account opening, loans, and mobile banking services. | $41.2M | Debt Financing | Jan 09, 2025 |  |
| Nova Ljubljanska Banka | The NLB Group is the banking and financial group in Slovenia consisting of NLB as the parent bank, 6 other banks and a number of other companies. The NLB Group is committed to developing a culture of client focus, risk awareness, integrity, efficient organisation and social responsibility. The NLB Group feels large responsibility to the clients,employees, shareholders and the environment in which it operates because of trust they show. This trust shown is earned by cooperating with stakeholders for a positive change, mutual benefits and growth. By incorporating values of the NLB Group into its activities, the NLB wishes to contribute to positive changes in the environment in which it operates. | $22.1M | Debt Financing | Jul 24, 2023 |  |
| DenizBank | DenizBank was founded in 1938 as a state-owned bank in order to provide funding for the developing Turkish maritime sector. Acquired by Zorlu Holding from the Privatization Administration as a banking license in early 1997, DenizBank was further acquired in October 2006 by Dexia, a leading financial group in Europe. Continuing its activities underDexia umbrella for 6 years, DenizBank operates as from 28 September 2012 under the roof of Sberbank of Russia, Russia’s largest bank and a leading global financial institution. Sberbank holds almost one third of aggregate Russian banking sector assets, it is the key lender to the national economy and the biggest deposit taker in Russia. Sberbank has more than 110 million individual customers and 1 million corporate clients in 22 countries. | $28.6M | Debt Financing | Jul 20, 2020 |  |
| Yapi Kredi Leasing | Yapi Kredi Leasing aim of carrying out domestic and international financial leasing transactions. |  | Debt Financing |  |  |

10 of 10 investments shown.

## Co-investors
- [European Bank for Reconstruction and Development](https://shizune.co/investors/profile/european-bank-for-reconstruction-and-development-ebrd) — VC Fund, 2 deals together
- [European Fund for Southeast Europe](https://shizune.co/investors/profile/european-fund-for-southeast-europe) — VC Fund, 2 deals together
- [OPEC Fund](https://shizune.co/investors/profile/opec-fund-for-international-development-ofid) — VC Fund, 2 deals together
- [SANAD Fund](https://shizune.co/investors/profile/sanad-fund) — VC Fund, 2 deals together
- Arab Fund for Economic and Social Development — VC Fund, 1 deal together
- [Horizon Capital](https://shizune.co/investors/profile/horizon-capital) — VC Fund, 1 deal together

## Similar investors

### Similar stage
- [ENISA](https://shizune.co/investors/profile/enisa-2) — VC Fund
- [Development Bank of Wales](https://shizune.co/investors/profile/development-bank-of-wales) — VC Fund
- [The FSE Group](https://shizune.co/investors/profile/finance-south-east) — VC Fund

## FAQ

### What does Green for Growth Fund invest in?

Green for Growth Fund invests primarily in Financial Services, Banking and Finance startups, most often at Debt Financing and Post-IPO Debt stage. Most of the 10 investments tracked by Shizune back companies in Turkey. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### When did Green for Growth Fund last invest?

The most recent investment recorded for Green for Growth Fund closed in Jul 2026. Shizune tracks 10 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

# About Shizune
Shizune.co is an investor database. Core features:
- 48,091 startup investors (angels, VCs, accelerators, and others)
- Email, phone, LinkedIn (for intros), socials, and other contact data
- Updated daily from public funding news
- CSV and Excel export

The User can access the full database FOR FREE after signing up: shizune.co