AIIB launches US$130m venture capital programme for sustainable infrastructure

Vivienne Tay

Published Fri, Feb 10, 2023 · 01:30 PM

THE Asian Infrastructure Investment Bank (AIIB) has launched a venture capital (VC) investment programme for green and technology-enabled infrastructure.

The three-year programme will utilise US$130 million in funds, with an additional US$30 million as a co-investment sleeve, the development bank said on Thursday (Feb 9). Its initial target portfolio will comprise 12 to 15 VC funds.

Through small-scale VC funds, AIIB aims to support early-stage companies across its members in adopting new technologies, or creating new business models that help promote sustainable infrastructure.

“This is the first time since our founding that AIIB is entering the Asian venture capital market,” said Lee Dongik, AIIB’s director general of its Region 1 banking department.

The programme will help AIIB build strategic partnerships and diversify its equity portfolio by partnering reputable and seasoned VC fund managers, he added.

AIIB began operations in Beijing in January 2016, and has grown to 106 approved members worldwide. It is capitalised at US$100 billion and rated Triple A by major international credit rating agencies.