The Radical Fund, a trusted investor in Southeast Asia, introduces a US$40 million fund for startups tackling climate change.
The Radical Fund, an impact investor specialising in early-stage investments, has recently announced the commencement of its inaugural fund dedicated to Southeast Asia. This fund aims to raise US$40 million in capital, which will be utilised to support innovative startups in the region that are actively working on climate-related solutions.
Belonging to the Utopia Capital Management group, renowned for its contributions to over 130 early-stage startups across diverse emerging markets, The Radical Fund has already garnered substantial support. Notable backers include family offices situated in Singapore, Thailand, and the Philippines, alongside individual investors from Europe and the United States.
The fund’s primary focus is on founders who have established startups at the pre-seed, seed, and pre-Series A stages, regardless of whether their operations are based within Southeast Asia or if they merely have a presence in the region. It will specifically seek out ventures that propose innovative approaches to combat climate change, encompassing both adaptation and mitigation strategies.
Furthermore, The Radical Fund has also extended its support to non-climate tech startups whose business models effectively address climate concerns. This includes enterprises within sectors such as agriculture, food, circular economy, finance, mobility, and logistics. In addition to financial backing, portfolio companies will benefit from operational and technical assistance, ensuring their growth and success.
The launch of the Southeast Asia fund is particularly timely, given that GreenTech investments in the region experienced a 7% decline amounting to US$5.2 billion last year.
To spearhead its operations, The Radical Fund has assembled a six-person team situated in Thailand and Singapore, complemented by global team members based in the United Kingdom. The fund is actively recruiting professionals in Vietnam, the Philippines, and Indonesia to further expand its presence and impact.
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