Madrid-based Seaya has raised €300 million for its climate tech fund, Seaya Andromeda. The company manages €650 million in assets, making it the largest VC investor in Spain. The fund received backing from major LPs, including Santander, BNP Paribas Group, and Bpifrance.
- Established in 2013 by Beatriz González, Seaya is a venture capital firm that supports European and Latin American founders of leading tech startups. The firm manages three distinct funds: Seaya Ventures, dedicated to European tech startups; Seaya Andromeda, focused on funding tech startups tackling climate challenges; and Seaya Cathay Latam, which invests in Latin American startups reshaping diverse industries and societies.
- Since its inception, Seaya has built a portfolio of 38 startups and made 93 investments, including Samara, Piper AI, Cafler, and Fracttal. The firm has also achieved 18 exits, including notable companies such as Movo, Glovo, Wallbox, and Yogome.
Details of the fund
- Seaya Andromeda is an Article 9 sustainability-focused fund dedicated to addressing global climate challenges through technology-driven investments. The fund targets startups across Europe and the UK that are working towards solutions in energy and decarbonization, the circular economy, and the sustainable food value chain.
- Seaya Andromeda invests in companies at various stages, including Series A, Series B, and Series C+. It plans to invest €7 million to €40 million initially, with plans to make 25 investments by 2027, including five more deals this year.
- Article 9 of the EU's SFDR categorizes financial products with sustainability as their primary goal, requiring strict investment, disclosure, and alignment with the EU's green activity classification system.
Seaya has already invested in five impact technology startups from its new fund, including:
- 011h that develops a sustainable construction platform for designing and building carbon-neutral buildings.
- Recycleye that utilizes advanced machine learning, computer vision, and robotics to revolutionize the global waste management industry.
- Aegir Insights, which provides decision-making software, data, and intelligence for evaluating investments in the offshore wind sector.
- Pachama that focuses on saving and expanding forests worldwide by combining machine learning with satellite and airborne observations to measure carbon captured in forests.
- Seabery, a global leader in AR-assisted professional training, enabling companies to adapt to Industry 4.0 requirements.
- The Seaya Andromeda Fund saw participation from various LPs, including Iberdrola, Nortia, Santander, BNP Paribas Group, Next Tech Fund, and Bpifrance.
