TLDR:
- Seaya, a Spanish VC, closed its Andromeda climate-tech fund at €300m
- The fund invests in impact-driven companies focused on energy transition, decarbonisation, sustainable food value chain, and the circular economy
Spanish venture capital investor Seaya has successfully closed its Andromeda climate-tech fund at €300m, attracting investments from various European institutions. The fund, which is the largest of its kind in southern Europe, focuses on impact-driven companies that are dedicated to the energy transition, decarbonisation, sustainable food value chain, and circular economy. Seaya is now the largest VC investor in Spain, managing over €650m across five early-stage venture funds.
The Andromeda fund targets companies that seek to improve sustainability by reducing waste and pollution, with a geographic focus on Europe, the US, and Latin America. As an Article 9 fund under the EU’s Sustainable Finance Disclosure Regulation (SFDR), Andromeda has already made five investments since 2022 and plans to make a total of 25 investments by the end of 2027. The fund invests in companies with a hardware component, which often require more investment and time to develop, alongside software-based ventures in the climate tech sector.
Seaya, founded in 2013 by managing partner Beatriz González, has a strong background in climate tech investing. The company has successfully invested in a range of firms, including waste management startup Recycleye and EV charging company Wallbox. By supporting hardware-enabled companies and those with costly new physical plants for industrial production, Seaya aims to tackle climate change effectively.
González remains optimistic about the outlook for climate tech investments in Europe, despite a decline in VC funding in this sector. She believes that the combination of investor interest and top talent launching climate tech companies bodes well for the future. While short-term economic challenges and political uncertainties may affect climate change initiatives, González is confident that the geopolitical need for energy and industry independence in Europe will drive continued support for climate tech sectors.
