Wavemaker Impact selected by DFC as its first climate-tech fund investment in Southeast Asia
The Wavemaker Impact venture capital fund, based in Singapore and serving Southeast Asia, has received a $15 million investment commitment from the United States International Development Finance Corporation (DFC).
The investment, according to Wavemaker Impact, is a significant step toward the DFC’s climate objectives in the area.
The sum is included in Wavemaker Impact’s ongoing fundraising efforts for its inaugural fund, which the company expects to be fully subscribed by the end of this year, the statement claims.
“We are delighted to welcome the DFC as a limited partner to Wavemaker Impact to help us catalyze more investments in the region,
“We see strong alignment with the DFC’s focus on agriculture, food, and land use, which account for approximately half of Southeast Asia’s emissions, as well as decentralized infrastructure,” said Quentin Vaquette, Founding Partner at Wavemaker Impact.
Wavemaker Impact, which debuted in October 2021, is the region’s first climate tech venture builder to receive venture capital backing.
In order to reduce 10% of the world’s carbon budget by 2035, the team co-founded sustainability startups with seasoned businesspeople.
With the potential to reduce 100 million metric tons of carbon dioxide and generate $100 million in revenue, each company Wavemaker Impact creates is a “100100” company.
The founding team has built over 15 businesses from the ground up in the past, including unicorns and an initial public offering [IPO], and has invested over $300 million in Asian tech firms, including 35 greentech startups.
The United Nations Development Program and Enterprise Singapore, two prominent institutions run by the Singaporean government, are just two of the organizations with which Wavemaker Impact has forged strategic alliances.
Along with GenZero, Temasek, and Bill Gates’s Breakthrough Energy Ventures, the company also established an agritech joint venture.
The company has so far launched six businesses, including ones that use biochar for carbon sequestration, mortgage-integrated residential solar, regenerative agriculture, degraded land restoration, food waste, and sustainable fuels.
The company hopes to add 16 companies to its portfolio by the end of the current year and 10 by the end of this one with the new investment.
By investing in Wavemaker Impact, the DFC is demonstrating its dedication to lowering emissions in Southeast Asia.
Wavemaker Impact was selected by the company as its first climate-focused fund investment in Southeast Asia due to its distinct approach to climate-tech investment and extensive knowledge and skills in identifying scalable climate solutions and finding top local talent.
