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Supporting companies involved in the low-carbon transition in Southeast Asia
Project
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Signature date
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Location
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Multi-Country, Indonesia, Philippines, Vietnam
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Financing tool
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Financing amount (Euro)
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9 758 287
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Customer
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Southeast Asia Clean Energy Fund II, LP
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Type of customer
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Investment fund
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Country of headquarters
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Singapore
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Project number
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PZZ1731
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Environmental and social ranking
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IF-A
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Climate co-benefits
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Project with climate co-benefits
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco invests in SEACEF II,a $175 million fund which aims to support companies taking part in the low-carbon transition in Southeast Asia.
Client presentation
Clime Capital is a manager based in Singapore. It was set up in 2018 following the call for tender by the European Climate Foundation (ECF) to manage the SEACEF I fund, which has a capital of $22.5 million. Its objective is to make early-stage catalytic investments in companies engaged in the transition towards a low-carbon economy in Southeast Asia. After successfully deploying this first fund in 13 companies in Vietnam, the Philippines and Indonesia operating in the energy, energy efficiency and electric mobility sectors, Clime Capital launched a second fund, SEACEF II, which closed in December 2024 with a capital of $175 million. The Clime Capital team is managed by Mason Wallick and Joshua Kramer, two experts with extensive experience in investing in the energy sector in Southeast Asia.
Project description
Proparco is contributing $10 million of financing to SEACEF II, a $175 million fund.
The fund aims to support companies taking part in the low-carbon transition in Southeast Asia. It focuses on companies based in Vietnam, Indonesia and the Philippines operating in the energy, energy efficiency, network and electric mobility sectors. Its strategy is to make early-stage investments in projects, at a stage where these companies have difficulty accessing the capital they need to develop.
As a blend fund, SEACEF II maximizes the impact of its investments, which include gender lens investing through its adherence to the principles of the 2X Challenge.
Project impact
The expected impacts of this financing are as follows:
Fund
- 2,020 jobs supported over the next 5 years in the fund’s investee companies (direct jobs)
Climate
- This financing, which has 90% of climate mitigation co-benefits, exclusively supports companies engaged in the low-carbon transition
- It will contribute to reducing emissions by 27 tons of CO₂e per year
Gender
- This fund is aligned with the 2X Challenge methodology based on the direct criteria “Leadership” (33% of the management team are women) and “Employment” (63% of the management company’s current staff are women and its HR policies benefit women beyond local regulations), and indirect criteria
The project will thereby contribute to the achievement of SDGs 5 (Gender equality), 8 (Decent work and economic growth) and 13 (Climate action).