New Delhi, June 17 -- Singapore-based climate venture builder and investment firm 100x100 has launched its second fund with a target corpus of $100 million (around Rs 944 crore) to create and scale 50 climate-focused companies across India and Southeast Asia.
The new vehicle will focus on building startups in sectors such as energy, food, materials and supply chains, where the firm sees opportunities to commercialise low-emissions technologies and address large-scale decarbonisation challenges, the firm said in a statement.
Unlike traditional venture capital firms that invest in existing startups, 100x100 follows a venture-building model under which it works with entrepreneurs to create companies from scratch. The firm said every company it builds is designed to have the potential to reduce 100 million tonnes of carbon emissions and generate $100 million in annual revenue.
"We believe that solving the world's most pressing emissions challenges also represents a significant economic opportunity," said Marie Cheong, founding partner at 100x100. "With Fund II, we are doubling down on a demonstrated strategy with a platform that is ready-to-go."
India is expected to be a key market for the new fund as 100x100 looks to build climate-focused businesses across agriculture, energy, industrials, manufacturing and supply chains. The firm said it aims to bridge the gap between emerging climate technologies and large-scale commercial deployment by partnering with experienced entrepreneurs across the region.
The launch follows the firm's first fund, which reached its hard cap of $60 million in 2023 and attracted backing from investors including the US International Development Finance Corporation, British International Investment, the Singapore Economic Development Board, Triple Jump, and Kajima Corporation.
Since then, 100x100 has co-founded 27 companies across eight countries. According to the firm, portfolio companies have collectively raised more than $28 million from external investors.
The firm's India portfolio includes biomass fuel startup Biora and rail-based logistics platform Ecomet Logistics. Another India-focused venture, Elevate Foods, which aimed to connect farm-gate processors with end markets, was discontinued after being launched in 2024.
The firm is led by six partners, including Subhadeep Sanyal. It said the team has collectively built 58 companies, invested in 73 climate businesses and completed 19 exits.
Published by HT Digital Content Services with permission from VC Circle.