Singapore-based climate venture builder 100×100 has announced the launch of Fund II, targeting $100 million to co-found 50 new climate startups across India and Southeast Asia, as publicly reported on 17 June 2026. The fund is led by founding partners Marie Cheong, Guillem Segarra, Steve Melhuish, Subhadeep Sanyal, Paul Lam Wai, and Quentin Vaquette. No lead investor for Fund II has been disclosed at this stage.
Quick Highlights
- Founders: Marie Cheong, Guillem Segarra, Steve Melhuish, Subhadeep Sanyal, Paul Lam Wai, Quentin Vaquette
- Investor background (Fund I): Backed by US DFC, Singapore EDB, BII, Triple Jump, Qarlbo Energy, JG Digital Equity Ventures, Kajima Corporation, and Beacon Ventures
- Headquarters: Singapore (India and Southeast Asia focus)
- Announcement date: 17 June 2026
Funding Breakdown
Use of Funds
The $100M target will be deployed to build 50 climate companies entirely from scratch — a venture-building model rather than a traditional investment approach. Target sectors span energy, food, materials, agriculture, buildings, and supply chains. Each portfolio company is expected to pursue 100 million tonnes of CO₂e abatement potential and $100 million in revenue, anchoring commercial viability alongside climate impact.
Funding Timeline
Fund I, raised under the Wavemaker Impact brand, closed at a $60M hard cap in 2023 and co-founded 27 companies across eight countries. Fund II has been publicly announced with a $100M target; however, specific commitments and a final close timeline have not yet been disclosed, and this remains an active fundraise as of the announcement date.
Expansion Plans
100×100’s stated ambition for Fund II is to contribute to abating 10% of the global carbon budget across its cumulative portfolio. Geographically, the fund maintains its dual focus on India and Southeast Asia — two of the world’s fastest-growing emissions regions — with the venture-building model allowing the firm to shape companies from inception rather than backing existing teams. No hiring plans have been publicly shared.
Significance
The rebranding from Wavemaker Impact to 100×100 and the step-up from a $60M to a $100M target signals growing institutional appetite for climate venture-building as a distinct asset class in Asia. The model’s track record lends credibility to the ambition: Fund I’s portfolio survival rate is approximately twice the VC median, and portfolio company Rize reported $11 million in revenue in 2025 at 550% year-on-year growth. For India and Southeast Asia’s climate ecosystems, a dedicated co-founding fund of this scale is relatively rare and could accelerate the formation of early-stage climate companies that traditional venture capital tends to overlook. The announcement nonetheless carries a caveat — fund commitments remain undisclosed, and the path to a final close has not been publicly outlined.
These details have been drawn from multiple publicly available reports dated 17 June 2026; however, because specific Fund II commitments and close timelines remain undisclosed, this funding event could not be independently confirmed as final and should be treated as an active fundraise.
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Disclaimer: This report is compiled from publicly available sources and is for informational purposes only; funding figures are as publicly reported and may be subject to change.
