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Singapore-based Wavemaker Impact nearing final close of debut fund

Founding partner says builder of climate tech ventures may exceed target

Wavemaker Impact is focused on building companies that have the potential to reach $100 million in recurring revenue and also reduce carbon dioxide emissions by 100 million tonnes annually. (Source photo by Reuters and logo from YouTube)

JAKARTA -- Singapore-based Wavemaker Impact, a fund of Wavemaker Partners designed to help build climate technology ventures, is nearing the final close of its first vehicle, the firm's founding partner, Marie Cheong, told DealStreetAsia.

"The [debut] fund is slated to close by mid-2023. It is already oversubscribed and is likely to exceed its target," Cheong said. DealStreetAsia understands that the vehicle, which aims to drive decarbonization in Southeast Asia, has a target size of $25 million, although Cheong refused to confirm the number.

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