Madrid-based venture capital firm Seaya has announced the successful closing of the Seaya Andromeda fund, the first Article 9 climate-tech fund in Southern Europe, at €300 million. This landmark fund has attracted investments from major partners including Iberdrola, Nortia, Santander, BNP Paribas Group, Next Tech Fund, and Bpifrance.
Carlos Fisch, a partner at Seaya, highlighted the importance of experienced investors in this sector: “We need investors with a proven track record to support startups facing growth challenges in climate tech.” Since its inception, Seaya has invested in 12 climate tech companies and successfully exited three: Wallbox, RatedPower, and Ecoalf.
With this new fund, the VC’s assets under management surpass €650 million, solidifying its position as the largest VC investor in Spain. The Seaya Andromeda fund aims to invest in 25 climate-focused startups by 2027.
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Driving Technological and Environmental Impact
Seaya has a 12-year history of investing in climate tech, focusing on energy transition, decarbonization, sustainable food chains, and the circular economy. Led by Pablo Pedrejón and Carlos Fisch, the Andromeda fund adheres to SFDR’s Article 9, ensuring that all investments positively impact society or the environment.
Pedrejón emphasized the unique challenges faced by climate tech startups: “Climate-tech companies must transition from research to market-ready products and scale them. This requires different support compared to software startups, particularly during the critical ‘valley of death’ phase from development to deployment.”
The VC firm has already made five investments from the Andromeda fund into impact tech companies like Recycleye, an AI-driven recycling robot, and 011h, a construction firm reducing CO2 emissions by 75%.
Aiming for 25 Investments by 2027
As Southern Europe’s largest ClimateTech VC fund, Seaya Andromeda manages €300 million and focuses on growth-stage investments. The female-founded VC plans to invest between €7 million and €40 million per company, retaining capital for follow-up funding. The fund aims to back 25 startups by the end of 2027, with five more deals expected this year.
A Legacy of Sustainability
Founded in 2013 by Beatriz González, the spanish VC has been dedicated to impact and climate-focused investments from the start. González’s first investment was in Ecoalf, a recycled clothing brand, in 2012. Since then, Seaya has invested in multiple sustainability startups, including Clarity.ai, Biome Makers, RatedPower, Samara, Crowdfarming, Descartes, and Wallbox, which went public on the NYSE in 2021.
González, Seaya’s founder and managing partner, stated, “We have focused on impact and climate from day one. With 12 years of experience, we bring deep knowledge and expertise to support founders through our specialized investment vehicle.”
Seaya Ventures continues to invest in Series B+ companies across the UK, Denmark, the US, and Spain, driving innovation and sustainability in the climate tech sector.
