SOCIAL investor network AVPN has launched its second Asia-Pacific sustainability seed fund, supported by Google’s philanthropic arm Google.org and the Asian Development Bank (ADB).
Around US$5 million from the fund will be deployed towards non-profits leveraging technology that addresses climate and sustainability challenges in the region, AVPN announced on Thursday (Nov 23).
Besides providing financial support, the fund will also provide networking opportunities and capacity building to improve technology-led solutions.
Google.org has increased its funding for the latest fund, while ADB is the strategic and outreach partner. The bank will help amplify the fund to impact organisations with technology-led climate action solutions, AVPN said.
Separately, the social investor network has started its research study on the climate tech ecosystem to identify potential solutions. It will also look at the constraints of climate tech across social sectors.
AVPN launched its inaugural fund in June 2022, awarding US$3 million to 13 grantees.