Mandiri Capital, a corporate VC arm of Indonesia’s Bank Mandiri, has launched a joint venture with early-stage VC firm Investible to establish a new climate tech fund.
Once fully established, Mandiri Investible Global Climate Tech Fund will leverage the expertise and resources of both VC firms to identify, invest in and support climate tech startups in the Southeast Asia and Oceania regions.
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The new fund will explore opportunities in key sectors identified by the UN Environment Program (UNEP), such as energy, transport, buildings and cities, industry, food, agriculture, and forests and land use.
This climate fund offers a sustainable investment alternative in a region facing significant environmental challenges. Where the fund focuses squarely on climate technology, the initiative aligns with market demands and advancing regional sustainability goals.
This fund is a continuation of the Indonesia Impact Fund’s (a fund managed by state-owned Mandiri Manajemen Investasi) mandate to create a bigger impact on supporting the Net Zero Emissions Initiative, together with the APEC Business Advisory Council and UN Development Program to contribute to the archipelago’s sustainable development.
The new climate tech fund looks to tap into the growing economic interdependence between Australia, Indonesia, Singapore, and the broader Southeast Asian region. Up to 30 per cent of the fund’s investments will be exclusively allocated to Indonesia.
Launched in 2021, Investible’s Climate Tech Strategy has reviewed over 3,200 opportunities across 20 countries, deploying 19 investments.
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Investible CEO Rod Bristow said: “Mandiri Capital recognised the unique opportunity presented by Investible’s proprietary early-stage investment process, methodology, global networks, and experience as an early-stage climate tech investor. We believe the fund will deliver a unique combination of net zero outcomes and financial benefit for investors.”
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