AERA VC SECURES NEW US$30 MILLION FUND FOR CLIMATE BREAKTHROUGHS

KUALA LUMPUR, Feb 22 (Bernama) -- Climate tech venture firm Aera VC has announced a US$30 million first close of its new fund investing in startups accelerating the planet toward a sustainable future. (US$1 = RM4.183)

The new climate-focused fund is launching with a portfolio of global climate stars including Houston-based chemical decarbonisation firm Solugen - now valued at US$1.8 billion - as well as Shiok Meats (Singapore), Carbon Chain (London), Noya and Twelve (San Francisco); and Fable Foods (Australia).

Contributors to the fund include global purpose-driven investor families who are leveraging their resources to decarbonise industries deeply in need of climate solutions, according to a statement.

Aera is also launching an investment DAO (Distributed Autonomous Organization) called Aera Force, with 2000 ETH (approx US$6 million) earmarked specifically for pre-seed projects harnessing the power of blockchain to conquer climate and carbon related challenges.

Established in partnership with the creators of Dream DAO, the Aera Force DAO will expand the global community of innovators, scientists and founders formed in the past five years by Aera VC.

The new Aera fund expects to make up to 30 new seed investments over the next two years and will also contribute to follow-on rounds. The fund is continuing to accept further subscriptions up to US$100 million from institutional investors in 2022 who will join the international community of family offices.

The company’s new headquarters in Singapore positions Aera VC as one of the first global climate funds based out of the Asia-Pacific region. Aera VC portfolio companies have gone on to raise over a billion dollars since receiving Aera’s backing.

Aera VC invests at the frontier of deep technology and sustainability to accelerate the world to a better future. Since launching in late 2016, the company has pioneered investments into transformational technologies to reverse climate change and advance new breakthroughs for humanity.

-- BERNAMA