100x100, a premier climate company builder and institutional venture capital fund launched by the pioneering co-founding team of Wavemaker Impact, today announced the formal launch of its second investment vehicle (Fund II), targeting US$100 million.
The firm will deploy this fresh pool of capital to co-found and scale 50 new high-impact, high-growth technology companies specifically engineered to tackle global greenhouse gas emissions across price-sensitive emerging markets.
The industrial sectors of energy, food production, materials, and corporate supply chains are undergoing an intense structural transformation. This shift is driven by surging regional demand, geopolitical fragmentation, resource scarcity, and a growing push for national self-sufficiency.
Rather than backing pre-existing early-stage startups, 100x100 operates a unique, hands-on venture-building model. The firm partners directly with proven, experienced entrepreneurs to build new companies from scratch in Southeast Asia and India. Every single venture designed by the firm must clear a strict dual mandate: the structural potential to abate 100 million tons of carbon dioxide equivalent ($CO_2e$) while scaling into a US$100 million revenue enterprise.
Strategic Focus on the Indian Decarbonization Ecosystem
The expansion of 100x100's operations into India comes at a critical macroeconomic moment. As one of the world's fastest-growing major economies, India is also the third-largest global emitter, contributing approximately 4.1 gigatons (Gt) of $CO_2$ equivalent annually across power generation, agriculture, mobility, industrial manufacturing, and the built environment.
While India has successfully surpassed its 2030 Nationally Determined Contribution (NDC) target of reaching 50% non-fossil installed power capacity, renewable sources still account for only 15% of actual real-time power generation. This stark discrepancy opens massive commercial spaces for tech-led ventures to bridge efficiency gaps across the subcontinental supply chain.
Capital Efficiency and the "Green Discount" Advantage
The launch of Fund II builds on the strong operational track record of 100x100’s inaugural fund, which hit its hard cap at US$60 million in 2023. Fund I attracted elite backing from global institutional investors, development finance institutions (DFIs), and prominent corporate family offices, including:
The US Development Finance Corporation (DFC)
Singapore Economic Development Board (EDB)
British International Investment (BII)
Triple Jump, Qarlbo Energy, and Kajima Corporation
JG Digital Equity Ventures and Beacon Ventures
Since its rollout, the firm has co-founded 27 companies across eight countries, maintaining a portfolio survival rate that is nearly double the traditional venture capital average. By taking significantly larger equity stakes from day zero, 100x100 ensures its portfolio companies operate with 1.5 times greater capital efficiency than typical VC-backed startups, positioning Fund I for top-quartile financial performance.
"We firmly believe that solving the world's most urgent emissions challenges represents an extraordinary economic opportunity," said Marie Cheong, Founding Partner at 100x100. "Our name directly reflects our core conviction that commercial profitability and carbon reduction are not a trade-off—they are a financial multiplier. With Fund II, we are doubling down on a demonstrated strategy with a platform that is entirely ready-to-go."
A cornerstone of 100x100’s operating model is building every business to capture a 'green discount'. In price-sensitive markets like India, a green discount means the sustainable alternative must deliver clear cost or operational advantages over legacy fossil-fuel systems. It cannot just be a marketing position; it is a fundamental condition for commercial survival. To achieve this, the firm engages with more than 1,000 executive-level founders annually to find the precise entrepreneurial talent required to scale from day one.
Proven Market Traction: From Bioenergy to Smart Agriculture
The practical viability of 100x100's model is highlighted by its portfolio companies, the majority of which have achieved active revenue generation within less than six months of launching. To date, Fund I portfolio companies have successfully raised over US$28 million from 16 external institutional co-investors.
A prime example of this commercial velocity is Rize, a portfolio company that reduces methane emissions in rice cultivation. Rize generated US$11 million in revenue in 2025, achieving an extraordinary 550% year-on-year growth rate while improving the livelihoods of over 40,000 smallholder farmers. This technology holds immense potential for the Indian market, which is home to roughly 100 million smallholder farmers cultivating paddy across 51 million acres.
In the past ten months alone, 100x100 has co-built and launched three new companies directly in India, targeting critical infrastructure white spaces:
Advanced Bioenergy: Transforming agricultural waste into scalable, clean energy alternatives.
High-Efficiency Industrial Cooling: Cutting electricity consumption in dense urban and manufacturing zones.
Sustainable Logistics: Optimizing commercial supply chains to eliminate carbon waste.
"India is where climate urgency, rapid economic momentum, and exceptional entrepreneurial talent converge," added Subhadeep Sanyal, Partner at 100x100. "This convergence is exactly what our venture-building model is optimized for. Together with Southeast Asia, we can target 10% of global emissions. As India's first dedicated climate venture builder, we see a massive opportunity to drive meaningful decarbonization in the world's third-largest startup ecosystem."
The fund is managed by six partners—Guillem Segarra, Marie Cheong, Paul Lam Wai, Quentin Vaquette, Steve Melhuish, and Subhadeep Sanyal—whose collective experience spans building 58 companies, investing in 73 climate tech businesses, and realizing 19 successful exits across Asia.
About 100x100
100x100 is a premier climate company builder and venture capital fund dedicated to creating scalable solutions for the planet's largest emissions challenges. The firm partners directly with experienced founders to build category-defining businesses from the ground up. Every portfolio company is designed to abate 100 million metric tons of carbon and scale into a US$100-million revenue enterprise.
