ADI's Investment Portfolio: Climate Action in the Indo-Pacific

Investment Portfolio

ADM Capital

Founded in 1998, ADM Capital is a leading Asia Pacific private credit manager with more than 25 years of experience financing underbanked midmarket companies across developed and emerging Asian markets. Originally focused on distressed debt and restructuring, the firm has evolved into a trusted private credit provider with a disciplined approach centred on downside protection, capital preservation, and risk-adjusted returns. A longstanding leader in responsible investment, ADM Capital integrates IFC Performance Standards, ESG due diligence, and Environmental and Social Action Plans (ESAPs) across its portfolio. Its experienced team combines deep regional networks with strong structuring expertise to deliver flexible financing solutions.

ARQ —
SME Business Development Company (ARQ)

Established in 2014, ARQ SME Business Development Company (“ARQ SME BDC”) is a Philippine-based, Philippine-focused, founder-led private debt institution with a mission to empower and help scale mid-sized Philippine enterprises that create meaningful impact to society. ARQ SME BDC does this through mindful capital allocation through three sustainable and inclusive themes, such as (a) SME growth investing, (b) investing in climate business solutions, and (c) investing in gender-smart enterprises. ARQ SME BDC takes pride in a differentiated solution which provides flexible debt capital, knowledge assistance, and an enabling environment to fuel growth. Its focus sectors are food production, consumer, affordable housing, climate, and financial inclusion.

Ascend Vietnam Ventures (AVV) —
Alpha Fund

AVV is an early-stage venture capital firm focused on supporting tech entrepreneurs, primarily in Vietnam and surrounding regions. They aim to empower these entrepreneurs to make a positive impact on society. With roots in Silicon Valley, AVV leverages its extensive network and deep tech expertise to provide more than just financial support. They offer strategic guidance and operational support to help startups navigate their growth challenges. Typically, AVV invests in innovative software solutions from the idea stage up to pre-product market fit, with investments ranging between $500K to $2M. They also emphasize their commitment to being a trusted partner throughout a startup’s journey, from being the first investor to providing continuous support.

Asia Business Builders II LP (ABB)

Asia Business Builders II LP is a private equity fund dedicated to investing in women-led SMEs across Vietnam that align with ESG principles and the 2X criteria. ABB will focus on high-growth sectors such as education, health, urbanization, food and nutrition, aligning with Vietnam’s domestic consumption-driven growth trajectory. The Fund will prioritize women leadership, ownership, and workforce participation to create a transformative impact for women and communities across Vietnam. ABB is run by a gender balanced team that aims to drive strong financial returns by working with SMEs on value creation initiatives to help businesses scale.

Circulate Capital

Circulate Capital is the leading circular economy investment manager in high-growth, global markets. The firm deploys capital into scalable packaging, recycling, and materials businesses to build performant, resilient circular supply chains. Circulate Capital’s broad LP base includes institutional investors and DFIs alongside multinational corporates such as PepsiCo, Procter & Gamble, Dow, Danone, Chanel, Unilever, The Coca-Cola Company, Chevron Phillips Chemical Company LLC, and Mondelēz International. This ecosystem of unique partners creates shared value for brands, portfolio companies, and investors. Since it was founded in Singapore in 2018 by supply chain experts, Circulate Capital has completed more than 30 deals across South and Southeast Asia and LATAM and has US $480+ million in AUM. In 2025, Circulate Capital was recognized as one of just 19 firms out of 150+ worldwide on the BlueMark Impact Leaderboard.

Clime Capital —
South East Asia Clean Energy Fund II (SEACEF II)

Clime Capital Management identifies and creates investment opportunities that contribute towards alleviating climate change risk, alleviating infrastructure gaps, and building sustainable economies and societies. Drawing on a deep understanding of global energy markets, clean energy technologies, and a multi-disciplinary approach to investment origin and management, their on-the-ground teams are comprised of experienced investment, project development, and engineering professionals.

Do Ventures

Founded in 2020 and headquartered in Ho Chi Minh City, Vietnam, Do Ventures is a pioneering early-stage venture capital firm investing in technology-driven startups across Vietnam and Southeast Asia. Backed by global strategic institutional partners, the firm empowers visionary founders scaling innovative solutions in sectors ranging from financial services and AI to climate tech and education. By providing smart capital and operational expertise, Do Ventures is committed to building sustainable digital ecosystems and shaping the future regional economy.

Lendable —
Micro, Small and Medium Enterprise (MSME) Fintech Credit Fund

Lendable is an investment and alternatives platform that was founded in 2014, focusing on generating economic justice and environmental sustainability globally. The firm provides debt financing primarily to fintech companies in emerging markets, aiming to create access to financial services for underbanked populations. Lendable uses its proprietary technology, Maestro, to enhance the analysis and management of risks and impacts associated with its investments. They manage several funds, including the Lendable MSME Fintech Credit Fund, which raised $110 million to support micro, small, and medium enterprises (MSMEs) in Africa and Southeast Asia.

Sweef Capital —
Southeast Women’s Economic Empowerment Fund (SWEEF)

Sweef Capital is an independent impact investment firm based in Southeast Asia, led by women and dedicated to empowering the region’s potential through strategic investments. The firm invests equity and quasi-equity into growth-stage companies that exhibit scalable solutions aimed at improving lives, particularly focusing on diversity and inclusion. Their investment strategy targets sectors such as healthcare, education, food systems, consumer goods, and climate resilience, aligning with several United Nations Sustainable Development Goals. Sweef Capital emphasizes diversity and gender equality as core values, driving strong returns and significant societal impact.

TVM Ventures

TVM is a leading international venture capital firm focused on investing in life science innovations. The company has a highly experienced transatlantic investment team and approximately $900 million under management. TVM’s portfolio focuses on therapeutics and medical technologies from North America and the EU that represent differentiated first-in-class or best-in-class assets with the potential to transform standard of care. TVM pursues a unique two-pronged strategy, financing innovative early-stage therapeutics through a single asset company approach (Project-Focused Company, PFC). TVM also invests in differentiated commercial-stage medical technologies and late clinical-stage therapeutics. With its late-stage investments, TVM focuses on differentiated medical technologies and health tech with commercial proof-of-concept, as well as late-stage therapeutics expected to quickly reach major development or regulatory milestones. This strategy has been validated through a number of companies in both Fund I and II and the Colucid Pharmaceuticals exit. The TVM investment team has worked together for over a decade to effectively utilize this innovative approach to maximize returns for investors and finance new therapies and technologies to meaningfully improve patient lives.