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Wavemaker Impact, a new climate-tech venture builder aims to raise $25 M for its first fund

Wavemaker Partners, a Singapore-based venture capital company, has established a climate-tech venture building in Southeast Asia. Wavemaker Impact, a venture capital firm, hopes to raise $25 million for its inaugural fund.

Steve Melhuish (PropertyGuru), Doug Parker (Nutonomy), Paul Santos (Wavemaker), Quentin Vaquette, and Marie Cheong are among the founding members of Wavemaker Impact (both with ENGIE Factory).

It will collaborate with regional tech and environmental entrepreneurs to achieve the goal of lowering global carbon emissions by 10% by 2035.

Entrepreneurs may connect with a worldwide network of investors, consultants, and corporate partners through the Wavemaker Impact platform to uncover opportunities and establish scalable business models, product prototypes, and teams.

Wavemaker Impact has identified over 50 ‘100×100 firms’ that have the ability to generate $100 million in yearly recurring income and abate 100 million metric tonnes of carbon at scale.

Land use and carbon sinks, agriculture and food, industrial processes, and energy are among the high-growth prospects. According to the corporation, they have a total potential market worth US$2 trillion in Southeast Asia alone.

Last year, the venture capital company launched “Green Wave” to help the Wavemaker team and community become more environmentally conscious. Its efforts include becoming carbon neutral, mapping its startup portfolio against the United Nations Sustainable Development Goals, and hosting sustainability workshops for entrepreneurs.

Earlier this year, Investible and Circulate Capital created funds aimed at Southeast Asian climate-tech businesses.

“With existing technology, we already have the solutions to cut global carbon emissions by 50 percent, but we need to create incentives to disrupt traditional businesses, change behaviour, and drive adoption,” said Marie Cheong, founding partner of Wavemaker Partners.

“Unlike other climate funds, we don’t just write cheques, but we roll up our sleeves and co-found these businesses,” said PropertyGuru founder Steve Melhuish.




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