Trill Impact's Buyout strategy focuses on control or co-control investments in established mid-sized companies, primarily in Northern Europe, that demonstrate strong value creation potential, focusing on organic growth and often buy- and build, seeking to accelerate the business- and impact footprint.

The Buyout strategy intentionally targets companies that address environmental and societal challenges through their products and services, and where there is potential to use impact as a lens to unlock their full value creation potential. Trill Impact is convinced that integrating impact into the entire investment process and active ownership approach will generate high-performing organizations, deliver market-rate returns, and drive long-term sustainable value, for investors, businesses, and society at large.

TT medic partnered with Trill Impact to drive growth 
in the European MedTech sector

In April 2024, TT medic, a MedTech development and manufacturing company for high-quality polymer components operating in the DACH region, entered a partnership with Trill Impact to accelerate its growth. This marked the first investment in Trill Impact's second Buyout Fund.

Strong progress on Impact and ESG targets across
the portfolio

The majority of the Buyout portfolio companies met their Impact targets for 2024, which highlights their concrete contribution to the planet, society and the world around us. Their progress also shows that the Impact and ESG initiatives conducted across the portfolio have begun to yield results. In the first Buyout Fund, seven out of the ten portfolio companies met their GHG emissions reduction targets, implying that it is possible to increase a company's positive impact, while minimizing the adverse effects of that growth. All GHG emissions targets are absolute Scope 1-2 targets and have been developed in line with SBTi guidelines.

Impact-driven value creation takes center stage

During the year, there has been an increased focus on impact value creation in the Buyout portfolio. One of the initiatives undertaken, with the German portfolio company karriere tutor, is described in depth in this review to showcase how the application of an impact lens can be combined with an ambition to achieve commercial success. In this specific case, integration of impact criterion into the product development process resulted in new ways to increase the company's positive contribution to society while better serving market needs for business growth.

Trill Impact sees a Microfinance strategy as a private debt strategy focused on lending to Microfinance and SME finance institutions, as well as other impact-driven borrowers, supporting solutions aligned with the UN Sustainable Development Goals (SDGs). 

The strategy will aim to provide diversified exposure to high-growth economies through local currency investments across Latin America, Africa, and Asia, enhancing alternative asset portfolios and reducing emerging market macro risks. It will primarily invest in senior debt, with the flexibility to allocate a small portion to subordinate debt. The approach will be unhedged and focused on local currencies. 

Trill Impact Ventures focuses on investing in start- and scale-ups in Western Europe addressing the world's most pressing environmental and health challenges, backing entrepreneurs within Green Tech and Life Science Solutions.

Trill Impact Ventures makes minority investments alongside other venture capital firms, angel investors, and/or other sources of non-dilutive funding, such as research grants. The Life Science Investments focus on global health challenges within the pharma/biotech, vaccine, medical device, and diagnostics sub-sectors. The Green Tech investments target the global challenge of climate change across multiple sub-sectors. Trill Impact Ventures also invests in Impact Enablers– e.g. companies that support digital/data transformation, within the Green Tech and Life Sciences sectors

Trill Impact Ventures co-led Series B round in May Health to advance PCOS treatment

In May, Trill Impact Ventures co-led a USD 25 million Series B financing round in May Health, a French-American medical device company focused on addressing infertility related to Polycystic Ovary Syndrome (PCOS). The funding will support ongoing clinical development and help achieve CE marking for potential market entry in select European countries

Trill Impact Ventures led investment in regenerative agriculture company Soil Capital

In September, Trill Impact Ventures led a EUR 15 million Series B investment in Soil Capital, a Belgium-based company advancing regenerative agriculture. Soil Capital supports farmers in their implementation and monitoring of regenerative agricultural practices, helping them to monetize their capture of carbon while promoting biodiversity, water retention, and ecosystem health

Progress across Trill Impact Ventures’ portfolio

Several portfolio companies demonstrated strong growth over the year. Cinclus Pharma raised approximately SEK 715 million to support ongoing clinical development, including preparations for its Phase 3 program following its IPO on the Stockholm Stock Exchange in June. The capital raised will support a pivotal clinical trial in the US, as well as the filing of CE marking, enabling market entry in select European countries. Open Cosmos more than doubled its annual revenue, reaching £30 million, while maintaining EBITDA profitability and delivering multiple large-scale satellite projects on schedule.

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam