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Today: July 21, 2024
July 2, 2024
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Seaya Andromeda Secures €300M: Southern Europe’s First ClimateTech Fund

TLDR:

Seaya Andromeda, the first Article 9 climatetech fund in Southern Europe, has raised €300M in funding. The fund is focused on impact-driven growth companies specializing in energy transition, decarbonization, sustainable food value chain, and circular economy. Seaya has a total AUM of €650M, making it the largest VC investor in Spain.

Summary

Madrid investment firm Seaya has closed Seaya Andromeda, the first Article 9 climate-tech fund in Southern Europe, at €300 million. The fund aims to invest in impact-driven growth companies focusing on energy transition, decarbonization, sustainable food value chain, and circular economy. Seaya has a history of 12 years in climate tech and has chosen to invest in companies that promote a sustainable society by reducing waste and pollution. The fund only invests in companies that align with SFDR’s Article 9, ensuring a positive impact on society or the environment.

The fund has already made investments in companies like Recycleye, an AI-driven waste sorting robot, and 011h, an environmentally friendly construction firm. Seaya plans to make a total of 25 investments between now and the end of 2027, with the first cheque ranging from €7 to 40 million. The fund is led by Beatriz González, the female founder and managing partner of Seaya, who has a strong background in impact and climate tech.

Pablo Pedrejón and Carlos Fisch lead Andromeda as Investment Partners, focusing on four verticals for investing: energy transition, decarbonization, sustainable food value chain, and circular economy. The fund aims to support deep-tech climate entrepreneurs and help startups bridge the ‘valley of death’ from initial development to deployment at scale.

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