Madrid-based investment firm Seaya has announced the closure of Seaya Andromeda, a €300 million fund dedicated to climate technology in Southern Europe. This initiative solidifies Seaya’s commitment to fostering sustainable companies, aiming to accelerate the transition towards environmental and social impact through strategic investments.
The €300 million Seaya Andromeda fund is notably the first Article 9 climate-tech fund originating from Southern Europe. Previous reports about Seaya’s endeavors highlighted the firm’s continuous expansion in the venture capital landscape, significantly increasing its assets under management and positioning itself as a leader in sustainable investment. The firm’s history of successful exits in the climate tech sector demonstrates its ability to identify and nurture impactful technologies.
Seaya Andromeda’s Limited Partners (LPs) include prominent names such as Iberdrola, Nortia, Santander, BNP Paribas Group, Next Tech Fund, and Bpifrance. This addition brings the Seaya platform’s total assets under management to over €650 million, establishing it as the largest venture capital investor in Spain. The fund focuses on companies that contribute to a sustainable society by reducing waste and pollution, adhering to the stringent criteria of SFDR’s Article 9.
Fund’s Investment Focus
With twelve years of experience in climate technology, Seaya aims to invest in growth-stage companies specializing in energy transition, decarbonization, the sustainable food value chain, and the circular economy. The fund’s focus is to back companies that make a positive societal or environmental impact, ensuring thorough adherence to sustainability principles.
Seaya has already allocated capital to its first five investments, including Recycleye, an AI-driven robot for sorting recyclable waste, and 011h, an environmentally friendly construction firm known for significantly reducing CO2 emissions on building sites. These investments exemplify the fund’s commitment to impactful technology that drives sustainability.
Unique Investment Challenges
Investment partners Pablo Pedrejón and Carlos Fisch lead the Andromeda fund, which plans to make 25 investments by the end of 2027. Seaya’s investment strategy includes initial investments ranging between €7 to 40 million, with reserved capital for follow-on investments. The fund’s structured approach ensures a sustained impact in the climate tech sector.
Seaya’s unique position as one of the few female-founded venture capital firms in Europe, led by Beatriz González, strengthens its perspective on impactful investments. González emphasizes the firm’s strong technological background and long-standing focus on climate tech. This expertise is critical in addressing the distinct challenges faced by deep-tech climate entrepreneurs compared to their software-tech counterparts.
Key Inferences
– Seaya Andromeda’s €300 million fund is a significant milestone in Southern Europe’s climate-tech landscape.
– The fund’s adherence to SFDR’s Article 9 ensures that investments are thoroughly aligned with sustainability goals.
– Seaya’s strategic investment approach aims to bridge the gap for climate tech companies from development to market deployment.
Pedrejón highlights the necessity of Series B and B+ investors to support climate tech startups in overcoming the “valley of death”—the critical phase from initial product development to scaling. This specialized support is indispensable for transforming research-driven innovations into market-ready solutions.
Seaya’s pioneering efforts in climate tech investment underscore its role in driving sustainable growth in Southern Europe. The firm’s ability to attract high-profile LPs and its comprehensive investment strategy reflect its commitment to creating a positive environmental and societal impact. As the largest venture capital investor in Spain, Seaya’s influence in the sector continues to grow, setting a benchmark for sustainability-focused investing.
