Sustana Cooling Partners


the first venture impact fund to focus on cooling technology to meet explosive demand in emerging markets.


Sustana Cooling Partners is the first venture impact fund dedicated to investing in the cooling and cold chain companies that can tap explosive growth in developing markets

Sustana is raising $200M to invest in early-stage cooling companies in emerging markets (Asia, Latin America, & Africa.)

SCP will build a 'First Loss Reserve’ with public & philanthropic partners to absorb losses that may occur in developing countries. This strategy is designed to “crowd in” or catalyze private capital formation.

Sustana Cooling Partners is the first blended capital impact fund to exclusively focus on cooling technology and emerging markets.


Our Goals

Cooling tech is critical for multiple sustainable development goals (SDGs)

End Poverty

Adequate cooling enables households to overcome the economic and social challenges posed by 30C+ temperatures

End Hunger

Cooling enables greater good access and affordability. In Africa, over 30% of produce is lost due to food spoilage.

Ensure Equitable Education

Leaning and cognitive performance decline as temperatures increase.

Ensure Healthy Lives

Cooling & refrigerated transport will improve the quality of care in hospitals and ensure safe transport of vaccines.

Ensure Access to Affordable, Clean Energy

Efficient cooling is vital to the stability of electric grids. If HVAC growth estimates for India prove accurate, the power demand will collapse the electricity grid without more efficient cooling and refrigeration.


Early-Stage Cooling Investment

A growing Need in a warming world

  • Record-breaking temperatures have created a global cooling crisis
  • At 50% humidity, we can withstand 40°C – but 50°C can be lethal

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Capital Need

Impact venture capital is what is needed

Impact Venture

Supports high impact companies operating in markets with low capital markets coverage

Venture Capital

Supports private companies, but with an economic interest only, not humanitarian focused.

Private Equity

Supports companies with stable cash flows, not start-ups.

Development Finance

Debt supports large infrastructure projects, not early-stage companies

Commercial Debt

Not available to start-ups


The Problem

In a warming world, cooling innovation is critical as developing economies expand their energy needs, yet it’s overlooked by VCs fixated on software and AI. Current energy-heavy cooling solutions risk overwhelming grids from California to India. Investors have an opportunity for significant returns & impact by supporting efficient cooling startups.

Lack of Cooling Access

1+ billion people have inadequate access to food, IT, & life-saving cooling. AC use is rising throughout Asia to 50%+.

Current Solutions are Inefficient

Current cooling solutions are energy intensive and contribute to grid instability & GHG emission growth.

Lack of Dedicated Funding for Startups

Cooling start-ups lack access to dedicated funding, especially in developing markets.


The Solution

1. Scope: A Venture Capital Impact Fund with a mission to invest specifically in cooling start-ups both in developed countries and in exploding developing markets.

2. Experience & Deal: A Team that has deep experience in clean tech / climate investment, developing markets and has unique access to global cooling tech deal-flow.

3. Funding: Sustana Cooling Partners has access to both public private investors and is building a reserve tranche with public capital to de-risk private investment.


The Investment / Use of Funds

Sustana Cooling Partners has a proprietary database of over 400 companies innovating in the global cold chain. These companies are typically investable at attractive valuations due to the lack of institutional funding available.
Climate funds have concentrated $1.0 trillion in only 10 verticals according to Bloomberg.


Focused on Seed to Series A, with opportunities to follow into Series B rounds.

Investment Size

Standard check sizes ranging from $1M to $5M.


Unique circumstances offer the potential to go beyond the typical investment range when opportunities arise


Why Now?

  • 1 Billion + people facing extreme heat lack access to modern cooling & refrigeration (SE4All)
    Deaths from extreme heat are preventable with cooing and health care cold chain
  • Innovative cooling companies lack the dedicated capital funds that support renewables
  • Emerging markets lack venture capital depth required to support innovators
  • Development Finance has not been effective in cultivating innovation in cooling applications
  • Corporate commercial debt is available for incumbents, but not for smaller cooling innovators
  • Venture capital is needed to unlock innovation
  • Risk mitigation is required to bring fresh capital into developing markets
    Sustana’s blended capital structure mitigates emerging markets risk and can attract co-investors
    Cooling & cold chain technology investment is a vital impact investment target

Seed Round Dynamics


Target Market Opportunity

U.S. & Global Total Addressable Market Projections for Cooling

Data from Precedence Research shows an exploding market for cooling products and services by 2030, across all verticals.


New York

Potential cooling tech investment


NY based photonics company that has pioneered a proprietary film that reflects heat from the sun back to space. The company has demonstrated its technology with utilities, refrigerated trucking, and energy companies. Grants revenue only.


Adhesive film that delivers substantial reductions in surface temperature of utility solar PV and battery assets. The film reduces energy consumption of refrigerated trucks. The company claims the potential to reduce 1 Gigaton of Carbon.

Investment Need

$2+M is needed to enable the company to build a targeted go to market and product team to deepen its capacity to customize adhesive backing for the product. The company has won numerous cleantech awards. SCP would be an early commercial investor.



Potential cooling tech investment


Israeli provider of cloud-based software and edge-device hardware that provides optimized management of HVAC systems. The company was founded in 2009 and has more than 10,000 customers in over 100 countries.


The company’s devices offer universal and effortless integration between Home Automation and Building Management Systems (BMS) with any VRF or VRV HVAC setup. This advanced technology ensures a cohesive connection for superior home and building climate control.

Investment Need

$4M is needed to bolster sales force, optimize its manufacturing process for superior cost efficiency, and tap into new market opportunities. The company stands on the cusp of global expansion that will benefit from growing demand for energy-efficient cooling.



Cooling tech investment


Asian green building & engineering company which specializes in cooling and developed a graphene additive that improves heat transfer in water systems used to cool large buildings.


A graphene-based nanotechnology heat transfer fluid additive provides a 25-30% reduction in electric usage by chillers in 30°C/high humidity conditions. Potential for 1-10 Gigaton carbon reduction.

Investment Need

$7M needed for go-to-market. Funds will be used to (i) build the first commercial concentrate plant in SE Asia, (ii) global IP protection, (iii) expand sales team, and (iv) build delivery platform for growth in Asian cities.



Cooling tech investment


India-based, solar powered cold storage company has created technology to more efficiently store food when market prices are down.


A new form of cold storage that allows farmers to store their crops efficiently and effectively, reducing food spoilage and energy consumption

Investment Need

Equity based, venture capital is needed to expand operations and scale the business. Because venture capital is very limited in India, foreign investment is needed.

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