The Luxembourg-based fund was co-founded by sisters Berta and Carolina Casas Forga with the aim of investing in technology that solves the world’s problems.
Powerledger’s Executive Chairman, Dr Jemma Green, says “For a little while now we have been thinking about the mission and vision of the money that’s backing us, and we want to make sure that it aligns with our goals as fully as possible.
It makes a difference if our investors ‘get us’, and Sangha Capital understands both blockchain enterprise and our ethos: Doing well, by doing good.”
Dr Tai was an early investor in Canva, which now has a market capitalisation of at least US$40 billion and Zoom, which is valued at nearly US$30 billion.
“We want to be able to demonstrate there’s a whole universe of incredible talent, technologies, and companies that can truly make a profound impact in solving the world’s problems, and we believe Powerledger is one of those companies,” said Sangha venture partner, Dr Bill Tai.
Powerledger has developed a blockchain-enabled renewable energy trading platform, which is targeting 1 million users by 2025.
The company already has more than thirty active projects in twelve countries, with platform features including peer-to-peer renewable energy trading, renewable energy certificate (REC) trading and energy provenance tracing.
Sangha’s mission is to use tech to achieve the UN’s Sustainable Development Goals and address a range of global challenges, including poverty, inequality, climate change, environmental degradation, peace and justice.
“We could see that the growth in renewables feeding into electricity networks all around the world had the potential to destabilise local grids. Powerledger’s technology solves this problem by tracking renewable energy trading in real time to enable the efficient exchange of energy,” said Dr Green.
The recent investment into Powerledger was announced by The Australian.
To read the published article (below) in full, subscribers to The Australian can click here.
About Sangha Capital:
Co-founded in 2020 by Berta and Carolina Casas Forga and venture backed by Dr Bill Tai to invest in technology companies that do well by doing good, Sangha Capital does things that matter, that can make a real impact on people and society. Sangha Capital’s portfolio includes companies that operate in sectors such as Blockchain, Web3, AgTech, EdTech, Enable Tech, FinTech, HealthTech, Impact Tech, and Non-Fungible Tokens (NFTs).
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