TRIREC Venture
Decarbonization is the name of the game. We maximize efforts on 4 decarbonization verticals namely Energy, Buildings, Mobility and Industries.
EARLY-STAGE | DECARBONIZATION | ASIA-FOCUSED | SINCE 2015
The Discovery Method
The Nine-Gate framework.
Every commitment is underwritten through nine gates - built from two cycles of wins and hard won lessons. Each past mistake became a gate.
The Support Engine
We sit in the valley with our founders.
Deep tech dies in the gap between science and scale. Our edge is built, not bought - we help portfolio companies cross it.
Demand
Offtake & first-customer access
We open the door to the strategic offtakers and first customers that turn a pilot into a business.
Navigation
Regulatory & grid maze
Carbon-market, corridor and grid-interconnection navigation across Asia’s fragmented regulatory landscape.
The Shift
A Era where Climate Risk, Grid Stress and Geopolitics Collide.
Three macro forces are converging to create non-discretionary technology demand - the kind that arrives regardless of policy or sentiment. Fund 3 invests where they intersect.
Thematic 01
Data-centre & AI Energy
The structural demand engine - cooling, conductors, power electronics and photonics. Policy-independent demand that is already live, and the decade’s most durable driver.
Thematic 01
Advanced Materials & Supply-chain localization
The enabling layer: critical-mineral sovereignty, carbon capture and utilization, hydrogen storage and circularity - where adjacent industries fund the science.
The Thesis
Structural Necessity Investing.
The best investments solve a science constraint an adjacent industry is already finding - and that becomes structurally necessary within 3-7 years, regardless of voluntary demand.
Where We Invest
Three Thematics, One Transition.
Fund 3 concentrates conviction where the three macro forces overlap - with up to 75% deployed across Asia Pacific.
Thematic 01
Data-centre & AI Energy
The structural demand engine - cooling, conductors, power electronics and photonics. Policy-independent demand that is already live, and the decade’s most durable driver.
Pre-obvious technologies surface early
Every position has a named event that makes the technology obviously necessary. A NIST PQC mandate. The NVIDIA GB200 Spec. First commercial green-steel delivery.
Thematic 02
Advanced Materials & Supply-chain localization
The enabling layer: critical-mineral sovereignty, carbon capture and utilization, hydrogen storage and circularity - where adjacent industries fund the science.
2015
FOUNDED | SENIOR TEAM TOGETHER 10+ YEARS
~1600
DEALS SCREENED EACH YEAR
The Thesis
We Invest in what’s Structurally Necessary - before it’s obvious.
TRIREC is an operator-led venture platform backing the technologies that physics, sovereignty and market survival will demand within three to seven years - years before early-stage valuations price them in.
Institutional R&D Partner
A national lab, on the cap table’s side.
A formal partnership with A*STAR’s ISCE² plugs TRIREC into Singapore’s national decarbonization R&D engine - catalysis, electrochemistry, carbon and green materials.
Most funds offer capital. ISCE² lets us offer capital plus a national lab.
The Proof
Backed by real exits, across three vintages.
A decade of pattern recognition - three realized exits in Southeast Asia decarbonization, and marks that have tracked above benchmark medians on every comparable metric.
Sunseap
Southeast Asia’s first climate-tech unicorn - a solar IPP scaled and exited to EDP Renewables. Our founders built and led the exit.
SG$1bn exit > 2.7x DPI
Active | Circular Economy
Green Li-ion
Cathode rejuvenation that closes the loop on lithium-ion - home to the world’s first commercial-ready plant of its kind in the US.
Commercial - ready | global first
Capital
Selected results shown for illustration. Across TPL, TV1 and TV2, performance has tracked above benchmark medians on each comparable metric, with realized, top-decile cash returns on our earliest vintage. Detailed, like-for-like (gross and net) performance is available to qualifying investors under NDA.
Fund 3 Portfolio
Advanced Materials
Immaterial
Realized | Fund 1
Super-adsorbent metal organic frameworks that break the cost/ performance trade-off capping carbon capture - and extend to hydrogen storage and gas separation. A structural, multi-market materials platform.
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First sight of spin-outs and licensable IP in advanced materials and green molecules - straight into Fund 3’s thematics.
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Item description
Baseload Energy
Type One Energy
Baseload, carbon-free, non-intermittent power - the scarcest asset in the transition. HTS magnets plus stellarator physics plus strong government backing: a high-barrier, asymmetric bet at the fields inflection point.
AI | Climate
Fiùtur
A serialization registry delivering the data integrity the voluntary carbon market lacks - positioned as a verified reference layer whose value compounds with adoption.
APAC Electrification
Okapi
Zero-down residential solar leading for a large, underpenetrated Malaysian market - deployable today, with fixed ten-year cash flows and immediate customer savings.
Backed by an 11-company live pipeline, screened against the same nine gates.
The Team
Four investments, each through the nine gates.
Where conviction concentrates today - from advanced materials to baseload energy and Asian Electrification.
Operators who’ve been here since cleantech 1.0.
We have built, operated and sold leading energy businesses - including Southeast Asia’s first climate unicorn. We diligence founders the way operators do.
Senior Leadership
Multi-asset global markets and equity derivatives at Goldman Sachs. Co-founded ThirdRock (exited to Schroders), former Deputy CEO and IC Chair, Schroders Wealth Asia.
Melvyn Yeo
Investment Team, Managing Partner
Co-founded Sunseap, exited to EDP Renewables - SEA’s most successful climate tech exit (>SG$1bn). Previously M&A at DBS, BNP Paribas and Macquarie Capital.
Investment Team, Partner
Lawrence Wu
Investment Team
Mike Lim
Investment Team, Partner
Debt capital markets at Norinchukin Bank, former CEO of an early-education business exited to a European PE firm,
Justin Lee
Investment Team, Principal
Evaluation of venture and growth-capital opportunities, with experience across corporate finance, private equity and structured finance.
Andrew Wong
Investment Team, Director
SUNSEAP EXIT TO EDP RENEWABLES
Deep international exposure across public and private markets; recognized for research coverage of small - and mid-cap names in EV and technology supply chains.
3
FUND VINTAGES | MULTIPLE WINNERS
Thematic 01
Thematic 01
Green Molecules & Industrial Transition
Hard-to-abate sectors - steel, cement, fuels - where physics set a hard floor and early entry into the right route compounds.
Principle 01 - Read the science first
Pre-obvious technologies surface early
They appear in materials, aerospace and oil-and-gas journals before climate ones. Silicon photonics lived in telecom research long before compute adopted it.
Principle 02 - Find the adjacent funder
Someone else pays for the R&D
A mature industry funds the enabling science for its own reasons: the climate or AI application inherits the cost curve. EVs fund SIC; fabs fund water-recycling membranes.
Thematic 01
Thematic 03
Green Molecules & Industrial Transition
Hard-to-abate sectors - steel, cement, fuels - where physics set a hard floor and early entry into the right route compounds.
Full capital-stack architecture
Marked | AI Energy
NewPhotonics
Silicon photonics for ultra-low-power data transmission - entered at seed, doubled down at Series A after technical milestones.
8.6x mark-to-market within 3 years
Realized | Carbon Markets
Xpansiv
The ESG commodities exchange that became a rare climate-tech unicorn - an early read on where carbon markets were heading.
Climate-tech unicorn
Rachel Lim
Investment Team, Associate
Market analysis and investment presentations; engages the firm’s extensive corporate and LP network across the deal process.
SG$1bn+
Alekhya Gattupalli
Investment Team, Associate
Sourcing and evaluating opportunities; due diligence, market research and portfolio-management support.
Equity, mezzanine and credit across TRIREC’s fund products - financing that matches the build-out, not just the round.
Localization
Asia localization engine
A Singapore landing pad - anchored by out A*STAR partnership - to translate frontier technology into the region.