Singapore-based Clime Capital has wrapped up the initial round for its South East Asia Clean Energy Fund II (SEACEF II), securing US$127 million.
Key investors in the fund include Allied Climate Partners, Australian Development Investments, and the Global Energy Alliance for People and Planet.
SEACEF II focuses on providing early-stage, high-risk capital to help Southeast Asia gear up for more low-carbon initiatives. The fund will be putting money into renewable energy, energy efficiency, electric mobility, and electrical grid businesses.
Launched in 2020, SEACEF I has made twelve investments, Clime Capital said. According to the firm, the fund’s deals through 2022 have pulled in more than 27x of the initial capital invested, beating results from both governments and private-sector funds.
Mason Wallick, CEO and co-founder of Clime Capital, emphasized the urgency of accelerating the region’s low-carbon transition.
According to the company, additional funding transactions are in the works and will be announced when finalized.
Originally published in Tech In Asia