Seaya launches EUR 300m sustainable venture capital fund

The fund, Seaya Andromeda, has held a first close of EUR 130m, counting Spanish multinational electric utility company Iberdrola, Nortia and Fond-ICO Next Tech as LPs.

Seaya said that the fund will remain open to new investors for the next few months, adding that it's the largest fund focused on sustainability in Southern Europe.

It is categorised as an Article 9 Fund within the Sustainable Finance Disclosure Regulation (SFDR).

It will invest in European technology-driven companies focusing on green tech, circular economy, agritech and sustainable food value chain, saying that its investments will aim to reduce waste and pollution. 

Seaya said it has three investments in the advanced stages of due diligence with an active pipeline looking forward. 

The venture investor has three more generalist funds, the latest of which closed in December 2021 at its hard cap of EUR 165m. Seaya III is focused on leading Series A and B rounds, investing up to EUR 20m throughout several rounds. 

It backed electric vehicle charging company Wallbox, which became the first Spanish tech company to trade on the NYSE in October last year. 

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