Swiss impact investor responsAbility Investments has made a fourth close of its $500-million-Asia Climate Strategy, following commitment from the International Finance Corporation (IFC).
IFC’s $50-million investment in the strategy’s senior tranche brings the total fundraising to $414 million. Additional private capital commitments are expected by the end of this year, putting the firm on track to close the fund then, responsAbility said in a statement.
The Asia Climate Strategy employs a blended finance approach, leveraging public capital to catalyse private investment, the firm said, noting that over half of total commitments, or more than $200 million, have come from the private sector. The fund is anchored by German state-owned development bank KfW and Dutch development bank FMO.
The Asia Climate Strategy, launched in November 2023, invests in low-carbon businesses across South and Southeast Asia. It focuses on renewable energy, battery energy storage, electric mobility, energy efficiency, and the circular economy sectors.
Recently, it announced that it is deploying $15 million in structured financing into Singapore-headquartered energy-as-a-service platform August Energy. Other investments include Singapore-based sustainable resource management firm CleanEdge Resources; Indian EV ride-hailing firm BluSmart; and Singapore-based water treatment solution provider Gradiant.
Since 2022, responsAbility has been part of M&G plc, the international savings, and investments business, and contributes to enhancing M&G’s capabilities in impact investing.
