Macquarie raises $405-M led by Green Climate Fund for Mumbai-based EV platform Vertelo

Macquarie Asset Management has raised USD 405 million to invest in its Mumbai-headquartered fleet electrification platform, Vertelo . The funding round marks Macquarie’s largest investment in the Asian EV sector.Green Climate Fund (GCF) has committed to invest USD 200 million in the form of concessional capital. The remaining USD 205 million will be infused by institutional investors including Macquarie Green Energy Transition Solutions Fund, Allianz Global Investors, and Australian Ethical.Launched in April 2024 by Macquarie’s Green Investment team, Vertelo provides electric mobility solutions and services, including leasing, financing, and fleet management for electric vehicles (EVs).