Seaya Ventures Closes €300M Seaya Andromeda Climate-Tech Fund
Seaya Ventures Closes €300 Million Climate-Tech Fund in Southern Europe
Madrid-based Seaya Ventures has successfully closed the Seaya Andromeda fund at €300 million. This fund represents the first Article 9 climate-tech fund in Southern Europe and has been backed by major entities such as Iberdrola and Santander. With this achievement, Seaya's total assets under management have surpassed €650 million, firmly establishing its position as Spain's largest VC investor.
The fund is spearheaded by Investment Partners Pablo Pedrejón and Carlos Fisch, who highlight the unique challenges faced by climate-tech startups and the crucial need for specialized support throughout the journey from research to market deployment.
Key Takeaways
- Seaya Andromeda, a €300 million climate-tech fund, is the first Article 9 fund in Southern Europe.
- The fund focuses on energy transition, decarbonization, sustainable food, and circular economy sectors.
- Seaya's total AUM now exceeds €650 million, making it Spain's largest VC investor.
- Initial investments include AI-driven waste sorting and CO2-reducing construction tech.
- The fund plans to make 25 investments by 2027, with initial checks ranging from €7 to 40 million.
Analysis
The launch of Seaya Andromeda underscores the growing commitment to climate tech in Southern Europe, potentially influencing regional investment trends. This development has the potential to benefit major players like Iberdrola and Santander, enhancing their ESG portfolios. In the short term, accelerated funding for innovative climate solutions is expected, while the long-term impact could reshape industry standards and consumer behavior. Furthermore, the success of this fund may pave the way for more female-led VC initiatives, contributing to greater diversity in the investment landscape.
Did You Know?
- Article 9 Fund:
- An Article 9 fund is classified under the Sustainable Finance Disclosure Regulation (SFDR) in the European Union. Such funds have a clear objective of making a positive environmental or social impact, aligning with sustainable investment goals. They primarily invest in activities promoting environmental or social benefits, including climate change mitigation, resource efficiency, and social integration, among others.
- Decarbonization:
- Decarbonization involves reducing carbon dioxide emissions across various sectors, particularly in energy production and industrial processes, to mitigate the effects of climate change. This often includes transitioning from fossil fuels to renewable energy sources, enhancing energy efficiency, and implementing carbon capture and storage technologies.
- Circular Economy:
- A circular economy aims to eliminate waste and promote continual resource use. Unlike the traditional linear economy of "take, make, dispose," it is based on waste elimination, maintaining product and material usage, and regenerating natural systems. This approach promotes sustainability through waste reduction, resource conservation, and environmental impact minimization via material and product recycling, refurbishing, and reuse.