Seaya has closed Seaya Andromeda, the first Article 9 climate-tech fund based in Southern Europe, with €300m in total capital commitments from LPs including Iberdrola, Nortia and Santander.
The fundraising brings Seaya’s total AUM to over €650m, making it the largest VC investment firm in Spain.
Andromeda will invest in impact-driven growth companies specialised in energy transition, decarbonisation, sustainable food value chain and circular economy. The fund only invests in companies that promote a sustainable society by reducing waste and pollution. The fund subscribes to SFDR’s Article 9, which ensures that all investments the firm makes have a positive impact on society or the environment.
The firm has already made its first five investments from the fund into various impact technology companies including Recycleye, an AI-driven robot which sorts recyclable waste, and 011h, a construction firm which aims to reduce building-site CO2 emissions by 75%.
Seaya’s new fund will invest anywhere between €7m and €40m as a first cheque, and will retain capital for follow-on investments. It plans to make 25 investments in total between now and the end of 2027, including around five more deals this year.
