Reforestation Carbon Funds
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Mombak secured the first close of its Amazon Reforestation Fund II, targeting $150 million to finance restoration projects in the Brazilian Amazon and gaining access to a 200 million reais credit line from Brazil's state development bank, BNDES. The Brazilian carbon removal startup also signed a new multiyear carbon credit purchase agreement with Salesforce, joining an existing roster of buyers that includes Google, Microsoft and McLaren Racing.
Mombak's first fund raised $120 million and financed projects across 15 Amazon farms, where the company planted nearly 15 million native trees.
The company expects a second, larger issuance of roughly 80,000 metric tons of reforestation carbon removal credits by the end of 2026, following productivity gains that CEO Gabriel Silva said are lowering costs and broadening the buyer base beyond major tech companies.
