Investing in Climate Tech in India: My Summer at ACT Capital
The genesis of a unique impact fund
ACT Capital is a testament to the power of unlikely partnerships. Founded in early 2020 as COVID-19 began to grip the world, it brought together veterans from private equity and venture capital with leaders from India’s impact sector. Recognising the unprecedented challenges ahead, they pooled private resources to back innovations in vaccine development and distribution and technologies to manage the pandemic’s fallout. From these beginnings grew a $100M impact fund focused on health, climate, and education.
A Personal Journey: From education to climate tech
My summer internship with ACT Capital’s climate team held special significance. Having led ACT’s education investment team for two and a half years, impacting 12 million students, I was eager to explore the climate sector – a newfound passion. The Hoffmann Institute’s stipend enabled me to contribute to ACT’s mission of decarbonising the economy through early-stage climate tech investments.
Two projects, one mission: driving climate action
My internship centred on two key projects. The first involved leading an investment into an innovative start-up. After evaluating over 20 companies, I identified Greenpod Labs, a biotechnology firm addressing India’s significant food waste problem. Their solution – sachets containing natural plant extracts – extends the shelf life of fruits and vegetables during transportation, potentially saving India 2% of its GDP and reducing methane emissions from landfills.
The second project involved revamping ACT’s climate investment thesis. This challenge pushed me to research global climate funds and engage with ecosystem leaders in India. The result was a comprehensive strategy aligned with ACT’s unique position and India’s specific needs, targeting an ambitious goal of reducing five million metric tonnes of emissions annually through our portfolio.
Challenges, growth, and future Horizons
This experience wasn’t without its challenges. The steep learning curve in biotechnology and the rigorous discussions to refine our investment thesis tested my adaptability and analytical skills. However, these challenges only fuelled my passion for climate tech and impact investing.
Reflecting on this transformative summer experience, I’m filled with gratitude and pride. Achieving the goals I set at the beginning of the internship has bolstered my confidence in tackling complex climate challenges. The experience of presenting to seasoned investors in a new domain has prepared me for future roles in the European climate sector.
I’m immensely thankful to the Hoffmann Institute for enabling this opportunity and to ACT Capital for their trust and guidance. As I look ahead, I’m excited to leverage these experiences to drive meaningful change in the climate tech landscape.
This internship experience was supported by the INSEAD Hoffmann Institute Impact Internship Stipend and gifts from alumni.
