Currently, in order to achieve economic transformation and environmental protection, the Climate Fund is investing heavily in Southeast Asia to maximize its impact.。

Aera VC, one of Asia's oldest climate funds, has raised $50 million, while Eversource Capital is understood to be mulling a second fund to expand financing in the sector.。

According to people familiar with the matter, Eversource Capital, a joint venture between private equity firm Everstone Capital and Lightsource BP, will have a second investment fund of more than $700 million.。

Derek Handley, founder of Aera VC, said: "We have completed the final finishing touches and Sidecar's asset management has reached $50 million.。Our global footprint focuses on financing scalable and transformable technologies。"

Aera was established in New Zealand in 2016 with an investment of between $500,000 and $1 million.。To date, it has invested in more than 24 companies, 12 of which are carbon transition companies.。

Aera's philosophy is to invest in deep technology and sustainability to accelerate the world towards a better future.。"Our goal is to decarbonize industry, which will pay off for a sustainable future," Handley said.。

In addition to Southeast Asia, Aera VC has investments in France, India, Australia and California, including Praan, which purifies ambient air without filters (based in India), Shiok Meats, which develops health and cellular seafood (based in Singapore), and Green-Got, a new French bank.。

The new Aera fund aims to make 10 new seed investments in the coming months and is open to follow-up funding from companies that have already received investments, according to people familiar with the matter.。

As Eversource Capital did not comment on its funding progress, its detailed expansion plans could not be determined, but it has been reported that the new fund has entered the fray and the dialogue is in the preliminary stages.。

In January 2022, Eversource raised 7.$4.1 billion, while its commitment to various assets in its portfolio has exceeded $600 million.。In addition, its new headquarters is also located in Singapore, making it one of the first global climate funds in the Asia-Pacific region.。

Sanjay Gujral, Everstone's chief commercial officer, said: "These investments, together with co-investment and project financing, have absorbed more than $2 billion.。"Currently, the company is actively increasing its investment efforts, focusing on energy decarbonization and resource efficiency.。

Some of the company's investments include Kathari Water Management and Accretive Cleantech Finance.。The former has set up a financial platform to operate sub-assets related to water and wastewater in India; the latter is a climate-financed non-bank financial company that provides financial solutions for green asset classes such as electric vehicles (two-wheelers and tricycles), rooftop solar, SMEs (packaging, water, waste, building materials) and energy-efficient SMEs.。

According to statistics, investment in climate technology start-ups in the region has increased significantly。Last month, HSBC said it planned to allocate $1 billion to support the world's emerging climate technology companies.。

Meanwhile, Thailand-based Radical Fund announced that its $40 million Southeast Asia investment vehicle had completed its first delivery in July, gaining support from several prominent family offices in the region.。

It follows reports that Hong Kong-based private credit manager ADM Capital is also looking to raise a $200 million climate fund in the market, with a focus on Indonesia, called the Asian Climate Smart Landscape Fund (ACLF).。