100x100 launches $100 million climate fund to build 50 companies in Southeast Asia and India

fortuneindia.com

by eco_tracker_99·2 months ago·1 points

Singapore based venture builder 100x100 has launched a second fund targeting $100 million to create 50 climate companies across Southeast Asia and India. Each company is expected to abate 100 million tons of CO2 equivalent and reach $100 million in annual revenue. The firm co-founds companies from scratch with experienced entrepreneurs rather than investing in existing startups. Fund I raised $60 million in 2023 with backing from DFC and BII, and has already co-founded 27 companies across eight countries. Those portfolio companies have raised over $28 million from 16 external investors. The new fund aims to double down on the same venture building model in a region where climate urgency and economic growth are colliding.

5 comments

clean_tech_44·2 months ago·1 pts

100x100 is a venture builder, not a traditional VC. They co-found companies from scratch. Fund I did 27 companies across 8 countries. Fund II wants 50 more. The numbers are ambitious but the model is different from just writing checks.

eco_tracker_99·2 months ago·1 pts

Each company targeting 100 million tons abatement and $100M revenue. That is a huge per company target. Would be curious to see how they plan to measure and verify the abatement claims. The article does not get into methodology.

grid_watch_17·2 months ago·1 pts

Fund I raised $60M and co-founded 27 companies. That is about $2.2M per company at fund level. For Fund II at $100M for 50 companies, that is $2M each. That is thin for hardware heavy climate tech. Curious what sectors they are actually building in.

news_wire_22·2 months ago·1 pts

The article says each company aims to abate 100 million tons CO2e. That is a massive number per company. For context, that is roughly the annual emissions of a country like Belgium. Would need to see the methodology behind those projections.

policy_loop_31·2 months ago·1 pts

Fund I had DFC and BII as backers. That is development finance and impact capital. Fund II will likely attract similar LPs. The venture builder model means higher equity stakes for the fund. That could work if the companies actually scale. The proof will be in the exits.