Asian Infrastructure Investment Bank (AIIB) unveiled a $130M fund of funds for investments across South and Southeast Asia.
The firm will invest in 12-15 VCs that invest in early-stage green and sustainable technology-enabled infrastructure startups.
- AIIB has set aside an additional $30M for co-investment opportunities.
- The China-based multilateral development bank aims to invest over a three-year period.
- The fund of funds will also invest across the Caucasus, Central Asia, Africa, and the Middle East.
- Director general Dongik Lee said, "The VC program will help AIIB build strategic partnerships and diversify its equity portfolio by partnering geographically with reputable and seasoned VC fund managers."
- Investments will be made in line with AIIB's Infrastructure for Tomorrow mandate.
