100×100, a Singapore-based climate company builder formerly known as Wavemaker Impact, has launched Fund II with a US$100 million target.

The firm plans co-found 50 climate startups across Southeast Asia and India.

The firm said it will focus on high-emissions sectors including energy, agriculture, manufacturing, and digital infrastructure. It co-founds startups with entrepreneurs rather than only making passive investments.

100×100 said Fund I had reached its US$60 million hard cap. Since 2022, it has co-founded 27 companies across eight countries. It said a majority generated revenue within six months.

Backers of Fund II include the Singapore Economic Development Board, the Grantham Foundation for Climate, and British International Investment.

The launch comes as climate tech’s share of Southeast Asian venture funding rose to 9.5% in 2023 from 3.2% in 2019.

Since 2020, nearly 30 climate-focused funds have raised more than US$830. Most of the capital is allocated fully to Southeast Asia.

🔗 Source: 100×100