About the fund
New Energy Nexus started incubating and supporting clean energy startups in California more than a decade ago. It kicked off its Southeast Asia operations in 2017, focusing on Indonesia and Thailand. To address the region’s expanding clean energy and climate needs, the firm is raising a $100 million fund to invest in early-stage clean and climate tech ventures in some of Southeast Asia’s biggest yet highly fossil-fuel dependent markets: Indonesia, Vietnam and the Philippines.
NEXCatalyst is looking to raise blended finance to derisk tech solutions and catalyze commercial climate capital into the region.
“Investments in the climate sector in the region are skewed towards larger ticket sizes and established companies with extensive track records, creating barriers for early-stage climate startups from accessing the necessary capital and support needed to scale their climate solutions,” the New Energy Nexus team explains.
The fund will build on New Energy Nexus’s pilot fund, which focused on the Indonesian climate and clean tech market. The fund invested in companies like electric mobility and battery swapping network operator SWAP Energy, and commercial and industrial rooftop solar provider Xurya. Ikea Foundation supported the Indonesia fund.
Ikea Foundation
