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Sam Walton's grandson has raised $600 million for his climate-focused investment firm, S2G, the Chicago Tribune reports.
According to Forbes, 37-year-old Lukas Walton is worth an estimated $27.8 billion.
S2G was founded in 2014 by Walton, who has already poured $3 billion into the firm.
The new money will be used for a private-equity fund called S2G Solutions Fund 1.
“We are addressing some of the biggest challenges of our lifetime, so we need to constantly push the envelope on ways we can catalyze capital into innovative solutions faster,” Walton says in a statement.
S2G focuses on climate change, clean energy, and sustainable farming.
It has invested in more than 100 companies, including green cement maker Brimstone and water-cleaning nanobubble company Moleaer.
S2G will now be a registered investment advisor and standalone business, S2G Investment Advisers.
“This evolution of S2G unlocks greater potential and expanded capacity to support projects that benefit our planet and human health,” S2G managing partners Aaron Rudberg, Sanjeev Krishnan, and Chuck Templeton say in a statement.
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Social Entrepreneurship
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Boost for Prison Entrepreneurship Program Extending its Reach in the Northwest UK
Entrepreneurs Unlocked, a Bolton-based social enterprise, has received National Lottery funding to expand its mentoring program to 200 prison inmates in the Northwest.