London – December 22, 2023, Spinnaker Capital, a prominent emerging markets investment management firm, announced a proprietary strategic investment, alongside existing investor Capricorn’s Sustainable Investment Fund, in Respira International, the impact-driven carbon finance business.
Investment Overview
Since its establishment in 1999, Spinnaker Capital has been a pivotal player in the evolution of emerging markets financial instruments.
Respira operates with an innovative offtake and profit share model which reinvests back into project stakeholders. Respira’s high-quality carbon credits allow corporations and financial institutions to mitigate their environmental impact. Respira channels private capital into climate solutions ensuring long-term relationships with trusted carbon project developers that enable its clients to build sustainable, climate-positive businesses and portfolios.
Strategic Implications
This investment reflects Spinnaker Capital’s commitment to the environment and its recognition of a strategic market opportunity. It marks a significant step in the firm’s sustainability journey and positions it to capitalize on the burgeoning voluntary carbon credit market. The collaboration envisages combining Spinnaker’s financial acumen with Respira’s innovative carbon finance strategies, promising future synergies and expanded market opportunities.
The investment will also allow Respira to access core emerging markets, including Brazil where Spinnaker Capital has a physical presence, as well as providing additional funds to enhance new deal capacity and enable the on-boarding of large corporations and financial institutions.
Statements from Principals
Alexis Habib, founding principal of Spinnaker Capital, remarked: “These projects are beneficial for the environment and for communities in our strategic focus areas – the emerging markets. The voluntary carbon markets today are reminiscent of the EM financial markets of three decades ago, characterized by limited liquidity and lack of standardization. This investment allows us to apply our skills and experience to foster, and benefit from, the evolution of this market.”
Robert Schultz, partner at Capricorn, added: “We believe that the Respira team have the best voluntary carbon markets origination team. The addition of Spinnaker Capital as a strategic investor, with deep domain expertise in emerging markets, allows Respira to gain access to new markets and opportunities.”
Ana Haurie, Respira co-founder and CEO, said: “Scaling the carbon credit market is a prerequisite for any successful journey to Global Net Zero – there is no credible scientific pathway without it. This investment will help Respira reach more of the corporate institutions which hold the influence and – most importantly, the financial power – to deploy rapid and at scale solutions which support business efforts to decarbonise and turn the tide against climate change.”
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