With the completion of the first round of funding for its South East Asia Clean Energy Fund II (SEACEF II), Singapore-based Clime Capital has raised US $127 million.
The Global Energy Alliance for People and Planet, Australian Development Investments, and Allied Climate Partners are some of the fund’s major backers.
Providing early-stage, high-risk capital to assist Southeast Asia in preparing for more low-carbon initiatives is the main goal of SEACEF II. The fund will invest in businesses related to electrical grids, electric mobility, energy efficiency, and renewable energy.
According to Clime Capital, since its launch in 2020, SEACEF I has made twelve investments. The company claims that through 2022, the fund’s transactions have generated returns that are more than 27 times the initial capital invested, outperforming the performance of funds from the public and private sectors.
The Clime Capital CEO and co-founder Mason Wallick stressed how critical it is to hasten the area’s low-carbon transition.
Additional funding transactions are being worked on, and the company says they will be announced once they are completed.
