Global impacting investing firm Encourage Capital has reached a first close for Encourage Solar Finance with USD40 million in capital commitments. Investors in the fund include KfW, Capricorn Investment Group, the John D. and Catherine T. MacArthur Foundation, the Jeremy and Hannelore Grantham Environment Trust, and the Sant Foundation. The fund will target India-based companies providing commercial rooftop solar energy financing for small and medium-sized enterprises.