Heaptalk, Jakarta — Singapore-based fund manager and venture capital company Clime Capital announced its first result of the Southeast Asia Clean Energy Fund ll (SEACEF ll) at US$127 million. The Southeast Asia’s first blended investment to provide early-stage high-risk capital to support promising businesses accelerating the region’s low carbon transition.
The close of this fundraising is backed by junior first-loss equity investors, primarily philanthropic and government-supported organizations, including Allied Climate Partners, Australian Development Investments, Global Energy Alliance for People and Planet (GEAPP), and Impact Asset. Furthermore, senior equity investors include British International Investment (BII), Cisco Foundation, FMO, International Finance Corporation (IFC), Norway’s Northfund, REI Co-op, and Sweden’s Swedfund International.
This SEACEF ll fund will be disbursed to the promising renewable energy generation, energy efficiency, electric mobility, and electrical grid businesses at their early-stage, high-risk development phases. This managed fund will also offer additional capital to expedite the scale-up of its portfolio companies.
Chief Executive Officer and Co-Founder of Clime Capital, Mason Wallick, said, “Without sufficient progress in developing the critical resources to reduce carbon emissions, the planet needs more businesses focused on accelerating the low carbon transition to thrive. Clime Capital has proven that our unique combination of early-stage investment ability and clean-energy expertise applied through dedicated on-the-ground teams in Southeast Asia can make a real difference,”
SEACEF ll draws on the flexible risk capital and investment-making discipline that underlies Clime Capital’s successful inaugural fund, SEACEF l. Launched in 2020, SEACEF l has made twelve investments. The investments made through 2020 have raised more than 27 times the capital provided by SEACEF l.
The first close of SEACEF ll lays the groundwork for the net-zero transition by making new investments in promising clean energy projects and businesses. Several funding transactions in Southeast Asia are underway and will be announced as the transactions are finalized.
“By crowding capital to de-risk early-stage businesses and development projects, we have demonstrated that small amounts can be leveraged to produce significant impacts. Now is the time to double down on this approach to maximize the results each investment dollar can achieve. We believe our model is the way to achieve this.” Chief Investment Officer and Co-Founder of Clime Capital, Joshua Kramer, said.
