XL Ventures, a Singapore-based climate tech company, has received in-principle approval from the Monetary Authority of Singapore (MAS) to operate as a licensed Venture Capital Fund Manager. Founded by Amit Sharma and Saroj Mishra, the firm aims to invest in tech start-ups that utilise data sensors and artificial intelligence (AI) to optimise energy consumption in commercial buildings and power infrastructure.
The founders emphasised the importance of immediate and scalable solutions, stating, “All climate technologies required to save the planet already exist; the missing piece is rapid global scaling.” They believe that software and AI can optimise complex energy systems, offering both commercial and environmental benefits.
XL Ventures plans to partner with early-stage companies, providing hands-on support to help them scale in Asia. The firm also aims to collaborate with large local conglomerates to facilitate market access. “We see significant opportunities for European tech start-ups in the efficiency and smart-tech space,” Sharma and Mishra noted, highlighting the alignment with government and private sector agendas in Singapore, India, and other Asian economies.
The company is already assisting several UK-based start-ups in gaining traction in these markets. With a shift in focus from the US to Asia and the GCC economies, XL Ventures is poised to play a pivotal role in advancing climate tech solutions across the region.
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