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Seaya has recently concluded the launch of Seaya Andromeda, Southern Europe's first Article 9 climate-tech fund

Seaya, a prominent Madrid-based investment firm, has recently concluded the launch of Seaya Andromeda, Southern Europe's first Article 9 climate-tech fund, with an impressive closing at €300 million. This landmark fund marks a significant milestone not only for Seaya but also for the regional investment landscape, focusing exclusively on impact-driven growth companies dedicated to advancing sectors crucial for environmental sustainability.

Overview of Seaya Andromeda Fund

Seaya Andromeda has garnered substantial support from a diverse group of Limited Partners (LPs), including major names such as Iberdrola, Nortia, Santander, BNP Paribas Group, Next Tech Fund, and Bpifrance. These LPs underscore the broad industry support and confidence in Seaya's ability to drive impactful investments in climate tech. The fund's closure elevates Seaya's total Assets Under Management (AUM) to over €650 million, consolidating its position as Spain's largest venture capital investor.

Focus Areas and Investment Strategy

The primary objective of Seaya Andromeda is to invest in companies that spearhead the energy transition, decarbonisation efforts, sustainable food value chain innovations, and advancements in the circular economy. These sectors are critical for mitigating climate change impacts and promoting sustainable practices across industries. Seaya's commitment extends beyond financial returns; it aligns with SFDR's Article 9 standards, ensuring that all investments uphold rigorous sustainability criteria and contribute positively to society and the environment.

SFDR Article 9 in Practice

SFDR's Article 9 classification categorises financial products in the EU aimed explicitly at achieving significant positive environmental or social impacts. These "dark green" funds adhere to stringent sustainability requirements, focusing primarily on investments that advance sustainable development goals. Seaya Andromeda's adherence to SFDR Article 9 underscores its dedication to transparency, sustainability, and impactful investing practices.

Initial Investments and Portfolio Companies

Seaya Andromeda has already deployed capital into its first set of investments, encompassing a diverse array of impact technology companies. Notable investments include Recycleye, an AI-driven robotic system for recyclable waste sorting, and 011h, a sustainable construction firm pioneering technologies that significantly reduce CO2 emissions on building sites. These investments highlight Seaya's strategic focus on technological innovation that addresses pressing environmental challenges.

Investment Strategy and Future Outlook

The fund plans to deploy capital ranging from €7 million to €40 million per investment as an initial stake, with provisions for subsequent follow-on investments. Seaya Andromeda aims to complete a total of 25 investments by the end of 2027, with approximately five additional deals anticipated within the current year alone. This proactive approach underscores Seaya's commitment to nurturing and scaling climate-tech ventures through targeted financial support and strategic guidance.

Leadership and Expertise

Founded in 2013 by Beatriz González, Seaya has distinguished itself as one of Europe's few female-founded venture capital firms. Beatriz González's vision and leadership have guided Seaya's evolution into a leading investor in climate tech, leveraging over a decade of experience and expertise in fostering sustainable innovation. The fund's management is led by Pablo Pedrejón and Carlos Fisch, seasoned investment partners with deep expertise in climate-tech entrepreneurship and investment management.

Supporting Climate-Tech Entrepreneurs

Pablo Pedrejón emphasizes the unique challenges faced by climate-tech entrepreneurs, highlighting the necessity for specialized support mechanisms tailored to their distinct needs. Unlike traditional software startups, climate-tech ventures must navigate complex developmental phases—from initial research and product development to market deployment and scalability. Seaya Andromeda aims to fill this critical gap, providing crucial Series B and B+ funding that bridges the "valley of death" and facilitates sustainable growth and impact.

Seaya Andromeda's launch marks a pivotal moment in the evolution of climate-tech investing in Southern Europe. With a robust investment strategy, a strong portfolio of impactful companies, and a commitment to sustainability standards under SFDR Article 9, Seaya Andromeda is poised to drive meaningful change in the global fight against climate change. By supporting innovative technologies and solutions that promote environmental stewardship and economic resilience, Seaya Andromeda not only delivers financial returns but also contributes to a more sustainable future for generations to come.