Singapore’s state investor Temasek has infused an extra US$42.8 million into its decarbonisation-focused funding platform, GenZero.
Based on regulatory filings accessed by DealStreetAsia, this newest capital injection, made by Pieter Investments, raises the entire capital dedicated to US$679.2 million.
This constitutes 18.9% of Temasek’s preliminary US$3.6 billion dedication to GenZero, established in 2022. Temasek had already invested US$44.7 million into GenZero in February.
GenZero, wholly owned by Temasek, goals to catalyse decarbonisation options by deploying long-term and versatile capital.
The platform invests in a variety of alternatives, from early-stage corporations that require affected person capital to commercialise, to mature ones prepared for scaling.
GenZero reported a income of US$8.59 million for fiscal yr 2023, a big improve from US$0.6 million in 2022, whereas narrowing its losses to US$0.15 million from US$3.04 million the earlier yr.
In Southeast Asia, GenZero has invested in AJA Local weather Options, specializing in nature-based local weather mitigation tasks, and C-Quest Capital, which is deploying energy-efficient cookstoves to rural households.
Moreover, it has stakes within the Tropical Asia Forest Fund 2, managed by New Forests, aiming to develop sustainable forest plantation property within the area.
