NDF joins ADB in launch of ADB Ventures

The Nordic Development Fund, along with the Asian Development Bank as fund manager, has launched ADB Ventures.

The venture capital and technical assistance facility is designed to boost start-ups in Asia Pacific with impact technology solutions that address climate change and contribute to Sustainable Development Goals.

The estimated size of the facility’s first investment fund and technical assistance is €54.5 million (about $60 million), with NDF providing a capital contribution of €10 million.

A minimum of 80% of the fund is targeted to invest in climate solutions that include mitigation, adaptation and resilience. While a minimum of 75% will be invested in solutions with a gender impact.