Australasian venture capital firm Pacific Channel has announced its acquisition of ENGIE Factory Asia Pacific, the Singapore-based startup venture-building and innovation arm of ENGIE.
The acquisition marks Pacific Channel’s expansion into Southeast Asia through a platform focused on early-stage companies in areas including solar energy, cooling systems, bioenergy, and sustainable housing.
The acquisition includes ENGIE Factory APAC’s portfolio stakes in seven startups across the climate-tech sector, according to a statement. Financial details of the transaction were not disclosed.
“This marks a significant expansion of Pacific Channel’s climate-tech investment platform across the Asia-Pacific region, extending our presence and active early-stage investment,” said Pacific Channel managing partner Brent Ogilvie.
Following the deal, Pacific Channel’s Singapore operations will be rebranded as Pacific Channel Climate Ventures, which will oversee the portfolio and serve as the firm’s regional base for Southeast Asia.
Pacific Channel said it will retain Singapore-based continuing team members from ENGIE Factory, including Tim van Vliet, who joins Pacific Channel as Principal and Southeast Asia Region Manager.
ENGIE, the French energy and infrastructure group behind ENGIE Factory, will continue to provide support to the ventures through its broader innovation network where relevant, Pacific Channel said.
Pacific Channel, which manages around $140 million in assets, said it has invested in 77 companies and recorded 11 exits over more than two decades of operations.
The acquired portfolio includes investments in Amplicity, Billion Bricks Homes, GetSolar, PHNXX, Polar Cold, Qatalyst, and Verta Bioenergy.
The startups operate across sectors such as energy efficiency, renewable energy, cooling technologies, and climate-related data solutions.
