![]() The team aims to target the biggest sources of carbon emissions in Southeast Asia-where significant impact is possible. These high-growth opportunities present themselves in sectors like land use and carbon sinks, agriculture and food, industrial processes, and energy. The Wavemaker Impact team has already identified over 50 opportunity areas with the potential to reach US$100 million in annual recurring revenue and abate 100 million metric tons of carbon at scale-what they call ‘100 x 100 companies’. Steve Melhuish elaborates on their way of working: “Unlike other climate funds, we don’t just write checks-we roll up our sleeves and co-found these businesses, helping identify the biggest opportunities, acquire the first customers, develop scalable business models, build product prototypes, and build the best teams.” Wavemaker Impact has identified high-growth and scalable opportunities in climate change with a total potential market worth US$2.7 trillion in Southeast Asia alone, and is looking for investors, entrepreneurs, and founders to join them in their rapid decarbonization efforts.Ĭheong outlines the role that Wavemaker Impact is playing: “A lot of entrepreneurs want to make an impact, but don’t know where to start and that’s where we come in.” Tapping on the Wavemaker platform, Wavemaker Impact entrepreneurs will have access to a network of global investors, advisors, and corporate partners.Īccording to Marie Cheong, “With existing technology, we already have the solutions to cut global carbon emissions by 50%, but we need to create incentives to disrupt traditional businesses, change behavior, and drive adoption.” They include Steve Melhuish, PropertyGuru founder and impact investor Doug Parker, ex-COO of Nutonomy Paul Santos, Managing Partner of Wavemaker Partners in Southeast Asia and Quentin Vaquette and Marie Cheong, who built more than 10 climate tech startups during their time at ENGIE Factory, the Asia-based venture arm of a global low-carbon utility. The founding team at Wavemaker Impact comprises veterans that have invested in and helped build over 35 sustainability startups, and have stellar track records in growing successful and scalable businesses. The founders of Wavemaker Impact believe that entrepreneurs will drive solutions to climate change and aim to launch companies that will reduce 10% of global emissions by 2035. Climate change is an existential threat for the region, with three of its largest cities facing the threat of being underwater by 2050. SINGAPORE, Octo– Wavemaker Partners has launched Wavemaker Impact, a first-of-its-kind climate tech venture builder in Southeast Asia, targeting to raise US$25 million for its first fund. In April, point-of-sale startup Moka was acquired for USD 130 million, also by Gojek.Wavemaker Impact will join forces with proven tech and sustainability entrepreneurs in Southeast Asia to reduce global carbon emissions by 10% by 2035 In 2019, Wavemaker managed to sell Coins.ph for USD 72 million to Gojek, Red Dot Payment to Naspers-owned PayU, and Wavecell for USD 125 million to US cloud company 8×8. #WAVEMAKER PARTNERS SOFTWARE#Companies that recently raised funding include construction site management software Novade, B2B FMCG marketplace GudangAda, and laser communications startup Transcelestial. Since 2012, the firm has invested in over 130 startups, with one third in deep tech and artificial intelligence. Wavemaker said that the previous fund, SEA Fund 2, was already the largest in Southeast Asia with focus on enterprise and deep tech. “We’re hopeful that our focus on investing in enterprise and deep tech startup teams will pay off in the long term.” “We’re grateful to be able to achieve our fund target despite the tough economic environment,” said managing partner Paul Santos. The new investor Concentric Equity Partners is joining existing backers that include Pavilion Capital, Temasek, International Finance Corporation (IFC), and Vulcan Capital. The Singapore-based firm managed to bag USD 111 million, exceeding the initial target of USD 100 million, according to a statement. Early-stage focused VC Wavemaker Partners on Wednesday announced the closing of its third Southeast Asia fund. ![]()
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