21 September, 2026 - We are pleased to welcome Horizon Secondaries, a new energy transition fund, to the VP Capital portfolio. The fund was created to combine a secondary portfolio of around 10 growth-stage companies across North America, Europe, and Asia.
As the impact investment market matures, secondary transactions are becoming increasingly common. Changing market dynamics can lead investors to exit portfolio companies or fund positions earlier than expected when strategic alignment shifts.
“A healthy secondary market creates opportunities for investors. We believe this is essential for a well-functioning venture capital and private equity ecosystem, as well as a critical component of the broader impact investing industry. For us, this transaction offers the opportunity to invest in a diversified group of attractive later-stage companies that contribute to the energy transition, with visibility into the underlying portfolio from the outset. We believe the Horizon Secondaries team is well positioned to support these companies in their next phase of growth.”
- Thijn van Doorne, Senior Investment Manager Funds at VP Capital
Beyond providing market liquidity, secondaries also play a key role in balanced portfolio construction, particularly through risk mitigation and cash flow management. While the impact secondary market for impact investing remains relatively small today, we see it evolving rapidly as impact companies and funds continue to mature.
VP Capital is investing in this secondary transaction, which was initiated and executed by Alantra and CommonWealth Investments. The acquired portfolio was previously held by Shell Ventures.
For more information about the transaction and the parties involved, see the full announcement below.
