The Radical Fund’s $40m climate tech fund targets early-stage SEA startups

The Radical Fund's $40m climate tech fund targets early-stage SEA startups

Announcing its first close of a $40m fund, The Radical Fund, a venture capital firm specialising in early-stage investments in the climate tech sector, has made waves in the FinTech industry.

With an undisclosed amount secured so far, the firm continues in active dialogue with an array of potential investors including family offices, corporations, foundations, and institutional investors, according to a report from e27.

The Radical Fund’s venture is bolstered by the backing of regional family offices hailing from the Philippines, Singapore, and Thailand, along with individual investors from the US and Europe. The fund is primarily focused on investing in early-stage Southeast Asia (SEA) startups that are developing and scaling solutions within the climate adaptation and mitigation sector. This approach reflects the firm’s commitment to fostering a more resilient SEA.

The firm’s investment focus encompasses tech-enabled ventures at the pre-seed, seed, and Pre-Series A stages that are either headquartered in SEA, or maintain a significant presence in the region. By investing in such startups, The Radical Fund aims to bring about both scaled commercial returns and tangible climate outcomes for local and regional populations.

The Radical Fund’s vision goes beyond merely supporting ventures within traditional clean tech and climate tech verticals. The fund is open to backing scalable businesses that may not initially appear as traditional climate enterprises but have, or potentially have, a climate impact intrinsic to their business model and ethos. This includes companies within agriculture, food, circular economy, finance, and mobility or logistics, among other sectors.

With plans to invest in over 30 companies at ticket sizes ranging between $250,000 and $800,000, The Radical Fund also offers operational and technical hands-on support alongside its equity-based capital. The firm comprises a six-person team located in Bangkok and Singapore, with additional team members in London, and is currently hiring in the Philippines, Vietnam, and Indonesia.

As part of the Utopia Capital Management (UCM) group of investment vehicles, The Radical Fund stands on the shoulders of a successful investing legacy, supporting over 130 early-stage ventures across various emerging markets. UCM’s robust network is enabled by a team of over 55 full-time experts spread across Africa, Europe, SEA, and the US. Other investment vehicles within the group include Founders Factory Africa and its related funds in Africa, co-founded by Alina Truhina and Roo Rogers.

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