Singapore climate-focused VC nets $30m in first close of new fund

Singapore-based Aera VC, a climate tech VC firm, raised US$30 million in the first close of its new fund aimed at investing in startups that focus on climate-related innovations.

Aera VC founding partner Derek Handley / Photo credit: Aera VC

Founded in 2016 by Derek Handley and Nick Winstone, the greentech investment firm’s portfolio includes Singapore-based faux meat startup Shiok Meats, Australia-based mushroom meat firm Fabled Food, and US-based chemical tech company Solugen.

“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,” said Handley.

The new fund is eyeing to make investments in 30 seed and follow-on rounds over the next two years, and it is still accepting subscriptions from institutional investors for up to US$100 million this year.

Aera VC also launched an investment DAO (decentralized autonomous organization) called Aera Force with 2,000 ETH (about US$6 million) set aside for blockchain-powered climate and carbon solutions. It was established in partnership with the creators of Dream DAO and will expand the global community of innovators, scientists, and founders that Aera VC has formed in the past five years.

Investors can contribute to Aera Force by purchasing investment tickets worth 10 ETH (about US$27,000), represented as NFTs designed by artist Kenneth Alexander.

See also: Why China’s crypto exodus is a boon for green bitcoin mining

Currency converted from Ethereum to US dollar: 1 ETH = US$2,746.89