Maybank launches $500m regional cleantech fund

According to Maybank, the fund will invest in power-generation infrastructure projects that use renewable sources over a period of 10 years in markets including China, India, Indonesia, Malaysia, Thailand, the Philippines, Vietnam, Cambodia and Laos. The vehicle will hold a first close of $87.5million, of which Maybank will contribute $50 million.

"The structure of the fund was designed to tap into the growing interest in clean and renewable energy opportunities in Asia amongst a diverse investor base," said CEO of Maybank Investment Bank Tengku Dato' Zafrul Tengku Aziz in a statement, adding that the fund will specifically focus on sectors such as wind, solar, geothermal, small hydro, biomass and bio fuels.

The Fund will be co-managed by Mayban Ventures and Mumtaz Khan, CEO of Maybank MEACP, and it will comprise of two parallel investment vehicles: The $350 million Master fund - supported by Maybank, the Asian Development Bank and International Finance Corporation - and the $150 million co-financing vehicle supported by the US-based Washington D. Investment Corporation.

The announced fund comes one week after SBI Investment, a subsidiary of SBI Holdings, also said it will manage Malaysia's first cleantech venture fund to invest in Asia Pacific, in conjunction with RHB Private Equity Fund Management, part of Malaysia's RHB Banking Group.

That vehicle aims to attract at least $50 million in commitments from institutional investors and will start making investments in March next year. It will mainly target listed and unlisted firms based in Japan and China.

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• Topics
• Southeast Asia
• Cleantech
• Fundraising
• Malaysia
• Cleantech
• Fundraising