Clime Capital, the Singapore-based fund manager focused on accelerating the low carbon transition, today announced the first close of the South East Asia Clean Energy Fund II (SEACEF II), with US$127 million committed. SEACEF ll is the first blended investment fund established in Southeast Asia to provide early-stage high-risk capital to support promising businesses accelerating the region’s low-carbon transition.
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SEACEF II draws on the flexible risk capital and investment-making discipline that underlies Clime Capital’s successful inaugural fund, SEACEF I. Like SEACEF I, SEACEF II will invest in promising renewable energy generation, energy efficiency, electric mobility, and electrical grid businesses at their early-stage, high-risk development phases. SEACEF II will also offer additional capital to accelerate the scale-up of its portfolio companies.
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Among others, the Fund’s first closing is backed by junior first-loss equity investors, primarily philanthropic and government-supported organisations, including Allied Climate Partners, Australian Development Investments (an Australian Government initiative), the Global Energy Alliance for People and Planet (GEAPP), and Impact Assets. Senior equity investors include British International Investment (BII) (the UK‘s development finance institution), the Cisco Foundation, FMO (the Dutch entrepreneurial development bank), the International Finance Corporation (IFC)(a member of the World Bank Group), Norway’s Norfund, REI Co-op, and Sweden’s Swedfund International.
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Mason Wallick, Chief Executive Officer and co-founder of Clime Capital, said, “As time passes 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.”
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Joshua Kramer, Chief Investment Officer and co-founder of Clime Capital said: “By crowding in 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 maximise the results each investment dollar can achieve. We believe our model is the way to achieve this.”
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The first close of SEACEF ll lays the groundwork for Clime Capital’s team to accelerate the net-zero transition by making new investments in promising clean energy projects and businesses. Several funding transactions in Southeast Asia are under way and will be announced as they are finalised.
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About Clime Capital
Clime Capital Management Pte. Ltd. is a Singapore-headquartered fund management company registered with the Monetary Authority of Singapore. Clime Capital is the manager of SEACEF I and SEACEF II. The Clime Capital team comprises senior professionals with deep Southeast Asian market experience in clean energy investments and developments. Clime Capital has an on-the-ground presence in Vietnam, India, Indonesia, the Philippines, and Singapore.
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