First close for Southeast Asia Clean Energy Fund II (SEACEF II)

Clime Capital closed the South East Asia Clean Energy Fund II, with US$127 million in commitments.

Allied Climate Partners (ACP) serves as the cornerstone junior equity investor in SEACEF II. ACP, in collaboration with other initial investors and Clime, played a pivotal role in expanding SEACEF II beyond its original proof of concept, aiming to create a more extensive platform. Their shared objective is to augment the pool of investable and scalable climate projects and companies throughout Southeast Asia. SEACEF II is an extension of Clime Capital's inaugural fund, SEACEF I. Through SEACEF I, Clime Capital successfully curated a portfolio featuring twelve early-stage investments in climate-centric projects and businesses, stimulating substantial subsequent funding from private sector investors.

In addition to contributions from development finance institutions (DFIs) and multilateral development banks (MDBs), SEACEF II incorporates senior equity from the private sector. Notable participants in this first close of SEACEF II include the International Finance Corporation (IFC), FMO (Dutch Entrepreneurial Development Bank), British International Investment (BII), Norfund, Swedfund, and Arnold Ventures. The catalytic junior equity segment comprises investments from ACP, the Global Energy Alliance for People and Planet (GEAPP), Australian Development Investments (ADI), ImpactAssets, and other contributors.