Investible & Mandiri Capital Indonesia Climate Tech Fund

Mandiri Capital Indonesia (MCI) and Investible have unveiled their upcoming joint venture, the Mandiri-Investible Global Climate Tech Fund.

• Project Goals: This project, structured as a Co-GP early-stage climate tech fund, aims to identify promising climate tech and innovation opportunities around the globe, and leverage the resources and expertise of both MCI and Investible to invest in and support climate tech startups.

• Funding Source: The fund is backed by MCI, a Corporate Venture Capital subsidiary of Bank Mandiri, Indonesia's largest financial institution, and Investible, a Sydney and Singapore-based early-stage venture capital firm.

• Funding Strategy: The fund aligns with Investible's 2021 Climate Tech Strategy, which has already examined over 3,200 opportunities across 20 countries and invested in 19 early-stage companies. Some of the companies it has backed include the battery recycling startup Renewable Metals, energy management platform CIM, and Singapore-based biotech firm TeOra.

• Funding Allocation: The fund's core objective is to leverage the diverse strengths of Indonesia, Southeast Asia, and Australia. It plans to allocate up to 30% of its investments in Indonesia, the world's fourth most populated country and Southeast Asia's largest economy.

• Other Investments: Investible, which has been active in Southeast Asia since 2018, has made several investments in Indonesian startups, including Eden Farm, Rakamin Academy, BintanGO, and MyRobin.

This fund continues the Indonesia Impact Fund's mandate to support the Net Zero Emissions Initiative, in conjunction with the APEC Business Advisory Council (ABAC) and UNDP.

The endeavor will explore opportunities in sectors identified by the UNEP, including Energy, Transport, Buildings and Cities, Industry, Food, and Agriculture, as well as Forests and Land Use.