The Asian Development Bank (ADB) is committing $60 million to set up three new venture capital funds for nurturing new climate change technologies. The bank is investing $20 million each in the Aloe Environment Fund III, the Keytone Ventures II and the VenturEast Life Fund III.
The portfolios will majorly focus on the markets of China and India and invest in early-stage technology companies that address climate change mitigation and adaptation. The Aloe Fund will be managed by Aloe Private Equity, while the Keytone Fund will be managed by Keytone Capital Partners II and the VenturEast Fund by VenturEast Mauritius Investment Advisors.
Click here for the release from Asian Development Bank.