Enduring Planet Secures Guarantee from Community Investment Guarantee Pool to Bolster Investment in Climate Solutions
Washington, D.C. – Enduring Planet, a leading financial provider for climate entrepreneurs, today announced it has secured a guarantee for its second fund, Enduring Climate Fund 2, from the Community Investment Guarantee Pool (CIGP). Locus, a 20-year-old Community Development Financial Institution (CDFI), serves as the program manager for CIGP. The guarantee will allow Enduring Planet to expand its investments in highly impactful climate companies across the United States.
Enduring Climate Fund 2 builds on the success of Enduring Planet’s inaugural fund, which has made more than 50 investments over the last three years. The new fund will continue to deploy capital through innovative Government Advance and Term Loan products, targeting a diverse portfolio of climate companies focused on emissions reduction, carbon removal, and climate resilience.
“This guarantee from CIGP is a landmark achievement for Enduring Planet and a powerful validation of our model,” said Erin Davis, Co-founder and COO of Enduring Planet. “It provides a critical layer of credit enhancement that will enable us to unlock significantly more capital for the climate entrepreneurs who are building our future. We are thrilled to partner with Locus and CIGP to accelerate the deployment of vital climate solutions.”
“We are incredibly proud of the portfolio we have built and the impact these companies are making,” said Dimitry Gershenson, Co-founder and CEO of Enduring Planet. “This guarantee from CIGP will allow us to double down on our strategy of providing fast, flexible, and founder-friendly capital to the entrepreneurs who are at the forefront of the climate transition.”
CIGP is a multi-investor fund that offers guarantees to increase capital access for under-resourced communities. To date, CIGP has issued more than $40 million in guarantees, unlocking an expected $316 million for community projects. “Enduring Planet’s continued support for climate-focused entrepreneurs and their vital solutions not only aligns with our mission—it’s crucial amid today’s volatile federal climate financing landscape.,” said Jim Baek, Executive Director of CIGP at Locus. “This partnership is a prime example of how guarantees can strengthen investment ecosystems and drive capital towards urgent needs like the Climate Crisis.”
Read announcement in Impact Alpha here.
About Enduring Planet
Enduring Planet is a financial services provider dedicated to supporting climate entrepreneurs. The firm leverages AI and a proprietary technology stack to offer fast and flexible financing to companies across the climate ecosystem, helping to bridge funding gaps and accelerate growth. The company’s founding team include Dimitry Gershenson, Erin Davis, and Joshua Krafchin. For more information, visit www.enduringplanet.com.
About the Community Investment Guarantee Pool (CIGP)
The Community Investment Guarantee Pool (CIGP), managed by Locus Impact Fund, aggregates unfunded philanthropic financial guarantees to accelerate equitable lending and investing in affordable housing, small business, and climate. By helping philanthropic organizations leverage their balance sheets for impact, CIGP makes more and new types of community development transactions feasible. Locus, a national community development organization, serves as program manager for CIGP. To learn more, visit guaranteepool.org.
About Locus
Locus (formerly Virginia Community Capital) is a $412 million nonprofit and parent organization for a family of social enterprises, which includes Locus Bank, Locus Impact Fund, and the Community Investment Guarantee Pool, or CIGP. Locus Bank and Locus Impact Fund are certified community development financial institutions (CDFIs). Locus increases capital access through community-informed solutions including lending, banking, guarantee design and management, and capital ecosystem coordination. To date, Locus has achieved $4 billion in total impact across the affordable housing, clean energy, food systems, and small business sectors.