Madrid-based investment firm Seaya has closed Seaya Andromeda, Southern Europe’s first Article 9 climate-tech fund, at €300 million ($321 million). The new fund’s limited partners include Iberdrola, Nortia, Santander, BNP Paribas Group, Next Tech Fund, and Bpifrance, bringing Seaya’s total assets under management to over €650 million, making it the largest VC investor in Spain.
With twelve years of climate tech experience, Seaya established Andromeda to invest in impact-driven growth companies focusing on energy transition, decarbonisation, sustainable food value chains, and the circular economy. The fund exclusively invests in companies promoting sustainability by reducing waste and pollution. It adheres to SFDR’s Article 9, ensuring all investments positively impact society or the environment.
SFDR Article 9 classifies EU financial products with sustainability as their primary goal. These “dark green” funds target positive environmental or social impact and have strict sustainability requirements, investing primarily in sustainability, disclosing their approach, and potentially aligning with the EU’s green activity classification system.
Founded in 2013 by former private equity investor Beatriz González, Seaya is one of the few female-founded venture capital firms in Europe.