Wavemaker Impact, the climate venture-building fund of Wavemaker Pacific Partners Pte. Ltd. (Wavemaker Partners), announced Tuesday that it has begun the process of becoming an independent fund manager.
The firm said in a statement that the team has applied for a Venture Capital Fund Manager (VCFM) license with the Monetary Authority of Singapore (MAS) and will launch a new, expanded climate investment platform: 100×100 Group.
Wavemaker Impact will, meanwhile, be rebranded to 100X100.
This evolution marks the next chapter in Wavemaker Impact’s mission to abate 10% of the global carbon budget by building and scaling “100×100” companies–businesses with the potential to mitigate 100 million tons of carbon dioxide (CO2) each and achieve $100 million in revenue.
Over the last four years, Wavemaker Impact has validated its venture-building approach, launching over 20 new climate tech companies that address the biggest drivers of carbon emissions in the region.
Areas include methane reduction in rice cultivation and cattle, the transition to renewable energy for households and businesses, alternative low-carbon materials, and the replacement of coal.
100×100 will continue this mission of building forward-thinking businesses that reinvent industries and enable resilient and inclusive economic growth – not only within Southeast Asia, but also across the wider Asia-Pacific region and beyond.
“Wavemaker Partners played a pivotal role in bringing Wavemaker Impact to life. We’ve come a long way thanks to their support, and now we’re at a moment where greater flexibility and speed are essential to pursue the broader set of strategies we believe are needed to meet the urgency of the climate crisis,
“100×100 will build on what we’ve started and we’re excited to unlock the power of entrepreneurship to deliver measurable carbon and economic impact at scale with continuity, focus, and ambition,” said Marie Cheong, Founding Partner at Wavemaker Impact.
Meanwhile, Paul Santos, Founding Partner at Wavemaker Impact & Managing Partner at Wavemaker Partners, said they are fully supportive of this spinoff, as well as Wavemaker Impact Fund 1 and the broader climate mission.
“We’re proud to have leveraged our platform to help launch Wavemaker Impact,
“What began simply as a bold idea has evolved into a world-class team and a clear vision for deep decarbonization. This is a positive next step for everyone involved,” he added.
As part of this transition, Wavemaker Impact has also announced the promotion of Guillem Segarra, Principal at Wavemaker Impact, to Partner.
Guillem has been a key leader in working with founders and scaling companies within Fund 1, and will play a central role in establishing 100×100.
Subhadeep Sanyal – previously Partner at Omnivore – will also join 100×100 as Partner to lead the organization’s activity in India.
“The vision remains the same: 100×100. We are doubling down on that mission and building the platform that will allow us to move even faster and think bigger,
“100×100 Group – which shares the same namesake of the 100×100 ventures that we venture-build – will be the engine to help us get there,” said Quentin Vaquette, Founding Partner at Wavemaker Impact.
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