Rabeel Warraich, Founder and CEO of Sarmayacar, has announced the launch of the Climaventures Fund, a $40 million initiative focused exclusively on addressing Pakistan’s escalating climate challenges. The landmark fund has already secured an initial $15 million investment from the Green Climate Fund, a South Korea-headquartered organisation dedicated to global climate finance.
Designed as Pakistan’s first venture programme committed solely to combatting climate change, the Climaventures Fund aims to drive solutions in key areas, including clean energy generation and transition, e-mobility, water and waste treatment, recycling, and agritech. Warraich noted that the impetus for this initiative is Pakistan’s increasing vulnerability to climate-related crises, underscored by events like the devastating 2022 flash floods, which highlighted the nation’s exposure to environmental hazards.
“This initiative is about more than just capital,” Warraich stated. “We believe that innovative, scalable climate solutions can drive Pakistan’s future, and our investors share that belief. Their confidence in our ability to spark real change is ultimately a testament to the ingenuity and potential of our ecosystem. While $40 million won’t solve all our climate challenges, we see this as the beginning—an essential catalyst for unlocking far greater investment and impact in the fight against climate change.”
The Climaventures Fund is designed to be a magnet for further investments, targeting both domestic and international sources. Warraich emphasised the importance of the Green Climate Fund, NRSP, and other key partners whose support has been critical in bringing this initiative to life. Acknowledging the scale of Pakistan’s climate needs, he stressed that the fund’s role is to set the groundwork for significantly larger investments to aid in mitigating the country’s environmental risks.
