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Aera VC Founding Partner Derek Handley
Singapore-based climate-tech venture firm Aera VC has announced the US$30 million first close of its new fund.
The fund, backed by families investing in climate solutions, will support startups accelerating the planet toward a sustainable future, the firm said in a statement.
Aera VC has already backed Houston-based chemical decarbonisation firm Solugen (valued at US$1.8 billion), Shiok Meats (Singapore), Carbon Chain (London), Noya and Twelve (San Francisco), and Fable Foods (Australia).
Separately, the VC firm has also launched an investment DAO (distributed autonomous organisation) called Aera Force, with 2000 ETH (approx US$6 million). It has been earmarked for pre-seed projects harnessing the power of blockchain to conquer climate and carbon-related challenges.
Established in partnership with the creators of Dream DAO, Aera Force will expand the global community of innovators, scientists and founders formed in the past five years by Aera VC.
Also Read: Investible launches new US$72M fund to invest in seed-stage climate tech startups
“The entire world needs to be rebuilt and decarbonised,” said Aera VC Founding Partner Derek Handley. “At Aera VC, our long-term vision is about investing across the sustainability spectrum by backing breakthrough technologies that reverse climate change, whether they spawn from blockchain innovations or through scientific discoveries. Every industry needs to be reimagined, from finance, food, and fashion to chemicals, cement, and construction.”
The new Aera fund expects to make up to 30 new seed investments over the next two years and contribute to follow-on rounds. The fund is continuing to accept further subscriptions up to US$100 million from institutional investors in 2022 who will join the international community of family offices.
The company’s new headquarters in Singapore positions Aera VC as one of the first global climate funds in the Asia-Pacific region. Aera VC portfolio companies have raised over a billion dollars since receiving Aera’s backing.
Aera VC was formed in 2016 by Handley, who was joined by fellow New Zealander Nick Winstone to launch the VC firm from their bases in New Zealand and New York. Handley has been investing in environmental and social-impact ventures since serving as the founding CEO of Richard Branson’s B Team sustainability collective in 2013.
In October 2021, Wavemaker Partners, an active Singapore-based VC firm, launched a US$25 million climate-tech venture builder in Southeast Asia.
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