About This Fund
Southeast Asia Clean Energy Fund II (SEACEF II) is a blended finance impact fund managed by Clime Capital, a Singapore-based investment manager specializing in accelerating Southeast Asia's low-carbon transition. SEACEF II is the successor to Clime Capital's inaugural SEACEF I and is designed to make early-stage, high-risk investments in innovative businesses building the clean energy and climate solutions infrastructure required for the ASEAN region's energy transition. The fund is the first blended finance fund of its type in Southeast Asia, combining philanthropic capital, development finance institution equity, and commercial investor capital to bridge the early-stage clean energy financing gap.
Clime Capital announced SEACEF II's first close in January 2024 at USD 127 million, backed by Allied Climate Partners, British International Investment (BII), the Cisco Foundation, Australia's ADI fund, the Netherlands' FMO, the Global Energy Alliance for People and Planet (GEAPP), IFC, Norfund (Norway), and Swedfund (Sweden). The fund achieved its final close in December 2024 at its target of USD 175 million. SEACEF II's core focus markets are Indonesia, Vietnam, and the Philippines—three of Southeast Asia's fastest-growing energy consumers with the greatest decarbonization potential and financing need.
By year-end 2024, SEACEF II had already deployed USD 35 million across five investments in solar generation, electric mobility, and related clean energy platforms. Clime Capital's blended finance architecture enables the fund to take on commercial risk that pure private capital cannot absorb at this stage of market development—effectively catalyzing private sector participation and creating a pipeline of bankable, de-risked clean energy assets for follow-on institutional investors seeking exposure to Southeast Asia's energy transition at scale.