Clime Capital, a Singapore-based fund manager that backs low-carbon technologies, has invested in energy management startup Ampotech. The investment came via its Southeast Asia Clean Energy Fund II, or SEACEF II.
Ampotech, a spin-off from Singapore’s Agency for Science, Technology and Research, helps building owners, manufacturers and utilities optimize their energy use. The funding follows Ampotech’s $1.7 million pre-series A round in 2023, led by Vietnamese climatetech firm Earth Venture Capital.
Clean energy fund
SEACEF II, like its predecessor fund, provides risk capital to early stage clean energy companies in Southeast Asia. The blended finance fund scored $127 million in a first close last year anchored by Allied Climate Partners, Australian Development Investments, Global Energy Alliance for People and Planet and Impact Assets, which provided first-loss capital. British International Investment, the International Finance Corp., FMO, Cisco Foundation and others came in as senior equity investors.
SEACEF II looks for promising startups in renewable energy, efficiency, e-mobility and electrical grid management. Portfolio companies include Vietnamese electric charging network operator EBOOST and Philippine wind power producer Real Wind Energy. The fresh funding will support Amptech’s expansion into Vietnam, Indonesia, and the Philippines.
