Addleshaw Goddard advises on the closing of the Southern Europe’s largest climate tech fund
Addleshaw Goddard has advised Seaya on the formation of Seaya Adromeda, its new growth capital fund for companies focused on the development of technologies for the fight against climate change. After formalizing its closing with investment commitments of 300 million euros, Seaya Andromeda is the largest vehicle in southern Europe focused on the climate tech sector.
Investors in this new fund include, among others, Iberdrola, Nortia, Santander, BNP Paribas Group, Next Tech-ICO and BPI France. Seaya Andromeda is also, to date, the largest private equity fund for growth companies in Spain.
The fund plans to invest in around 25 companies, Spanish and European, with tickets of between €7 million and €40 million. Its strategy also includes co-investment with other growth capital or private equity funds.
Isabel Rodríguez points out that “for the entire Addleshaw Goddard team, it is an honor to be able to accompany Seaya in this fund, the largest in Southern Europe, which once again demonstrates the strength and relevance of Spanish private equity firms. As we have seen in recent months, the technology sector aimed at achieving zero emissions targets is one of the most relevant in Europe and its importance will continue to grow in the short to medium term.”
The funds team advising Seaya was led by partner and head of the funds team in Spain, Isabel Rodríguez, with the collaboration of counsel María de Orueta and associates María Mata and Lara Taylor.
