Madrid-based venture capital firm Seaya Ventures has rolled out a new sustainability-focused fund with a target size of €300 million. The fund will invest in technology-driven companies focusing on green tech, circular economy, agritech and sustainable food value chain.
Dubbed Seaya Andromeda, the fund has already garnered €130 million from traders together with Spanish power firm Iberdrola, Spanish government-backed fund ICO Subsequent Tech and Nortia Capital.
The fund will follow the VC’s strategy of investing in mission-driven founders in southern Europe. Seaya Andromeda will also build on top of its earlier success stories with unicorns such as Wallbox, Glovo and Cabify. It is expected to invest from Collection A upwards, with ticket sizes anticipated to vary between €10-15 million.
The fund already has an active pipeline, with three investments in advanced stages of due diligence.
Beatriz González, founding partner, Seaya Ventures said: “Innovation and technology are essential for a sustainable economic development. With Seaya Andromeda we want to support those founders committed to this mission. We are honored and excited to have the support of Nortia, Iberdrola and Fond-ICO Next Tech in building the first Southern European fund dedicated to sustainable tech.”
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