Sustainable Finance

Seaya Rolls Out €300 Million Venture Capital Fund to Address Sustainability Challenges

Published on: 10 May 2022
by KnowESG

Seaya Ventures, the premier European venture capital firm behind unicorns, including Wallbox, Glovo, and Cabify, has teamed up with Iberdrola and Nortia to form Seaya Andromeda, a sustainability-focused venture capital fund. The fund has a target size of €300 million and will remain accessible to new investors for the next six months, with the first closing of €130 million.

Seaya Andromeda offers a unique value proposition in the face of global sustainability challenges, thanks to a collaboration between Iberdrola's leading vertical expertise, the public sector –through a significant commitment from Fond-ICO Next Tech–, and top sustainability-driven investors such as Nortia.

Through investments in leading European tech-driven firms concentrating on GreenTech, Circular Economy, Agritech, and Sustainable Food Value Chain, Seaya Andromeda will support a sustainable and healthy society by reducing waste and pollution.

The fund will follow Seaya's strategy of investing in exceptional and mission-driven entrepreneurs, which has yielded a superior track record of long-term investments with a direct and measurable positive impact.

Seaya Andromeda will also build on Seaya's previous successes in the target verticals, such as Wallbox, the first Spanish tech company to be listed on the New York Stock Exchange; Clarity AI, a global sustainability leader backed by international investors Blackrock and Softbank; and Ecoalf, Pachama, Biome Makers, CrowdFarming, or rated power.

Beatriz González, Founding Partner of Seaya Ventures, said:

"Innovation and technology are essential for sustainable economic development. With Seaya Andromeda we want to support those founders committed to this mission. We are honoured and excited to have the support of Nortia, Iberdrola and Fond-ICO Next Tech in building the first Southern European fund dedicated to sustainable tech."

As an Art. 9 Fund –as defined by the EU's Sustainable Finance Disclosure Regulation– Seaya Andromeda has attained the highest level of commitment to sustainability imaginable, with impact methodology applied to the sourcing, due diligence, decision-making, and post-investment measurement processes. The firm already has three investments in advanced phases of due diligence in its pipeline.

Source: Seaya Ventures