- Seaya Andromeda, Southern Europe’s first Article 9 climatetech fund, raises €300M
- LPs of the fund include Iberdrola, Nortia, Santander, BNP Paribas Group, Next Tech Fund, and Bpifrance
- Seaya’s total AUM now exceeds €650m, making it the largest VC investor in Spain
- Andromeda fund focuses on investing in impact-driven growth companies in energy transition, decarbonisation, sustainable food value chain, and circular economy
- Seaya plans to make 25 investments by 2027, with a focus on providing support to deep-tech climate entrepreneurs
Seaya Andromeda: Southern Europe’s Pioneering Article 9 Climatetech Fund
In the realm of climate-conscious investing, Seaya Andromeda has emerged as a trailblazer in Southern Europe with the launch of its Article 9 climatetech fund, raising an impressive €300 million. This significant milestone marks a turning point in sustainable finance, as Seaya paves the way for impactful investments in companies driving the energy transition and promoting environmental sustainability.
Seaya Andromeda Fund Details
Seaya Andromeda, spearheaded by Madrid-based investment firm Seaya, has garnered attention for being the first Article 9 climatetech fund in Southern Europe. The fund boasts a diverse group of Limited Partners (LPs), including prominent names such as Iberdrola, Nortia, Santander, BNP Paribas Group, Next Tech Fund, and Bpifrance. With the successful closure of the fund at €300 million, Seaya’s total Assets Under Management (AUM) now exceed €650 million, solidifying its position as Spain’s largest venture capital investor.
The core focus of Seaya Andromeda is to invest in impact-driven growth companies that specialize in key areas such as energy transition, decarbonization, sustainable food value chains, and the circular economy. Notably, the fund is committed to supporting companies that actively contribute to building a sustainable society by reducing waste and pollution, aligning with the principles of SFDR’s Article 9.
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Investment Strategy and Impact
Seaya Andromeda has already made significant strides in deploying its capital, with five initial investments in impact technology companies. Among these investments are Recycleye, an AI-driven robot that revolutionizes waste sorting processes, and 011h, an environmentally conscious construction firm that significantly reduces CO2 emissions on building sites. By backing such innovative solutions, Seaya Andromeda is not only driving financial returns but also fostering positive environmental change.
The fund’s investment approach involves providing initial cheques ranging from €7 to 40 million, with a focus on retaining capital for follow-on investments. Over the course of the fund’s lifespan, Seaya plans to make a total of 25 investments by 2027, with approximately five more deals anticipated this year. This proactive investment strategy underscores Seaya’s commitment to supporting the growth and scalability of climate tech companies that are poised to make a tangible impact.
Leadership and Vision
At the helm of Seaya Andromeda are experienced leaders who bring a wealth of expertise and passion for climate tech investing. Beatriz González, the Founder and Managing Partner of Seaya, is a driving force behind the firm’s mission to prioritize impact and sustainability. With a strong technological background and a proven track record of backing successful climate tech companies, González emphasizes the importance of leveraging Seaya’s 12 years of experience in the sector to guide founders towards success.
Pablo Pedrejón and Carlos Fisch, as Investment Partners leading Andromeda, play a pivotal role in shaping the fund’s investment strategy. Pedrejón highlights the unique challenges faced by deep-tech climate entrepreneurs, emphasizing the need for tailored support to navigate the complexities of bringing innovative climate solutions to market. By bridging the gap between initial development and large-scale deployment, Seaya Andromeda aims to empower climate tech startups on their journey towards sustainability.
Seaya Andromeda’s establishment as Southern Europe’s premier Article 9 climatetech fund marks a significant milestone in the region’s sustainable finance landscape. Through strategic investments in impactful technologies and a steadfast commitment to driving positive environmental change, Seaya is setting a new standard for climate-conscious investing in the venture capital space. As the fund continues to make a difference through its portfolio companies, it reinforces the notion that financial success and environmental impact can go hand in hand, paving the way for a greener, more sustainable future.
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