Calculus Carbon

Calculus Carbon is a Temasek portfolio firm via IE Ventures II, enabling institutional investments for large-scale, commercially aligned Nature-based Solutions (NbS) projects across Southeast Asia, Latin America, and Africa. Founded in 2022, the firm today collaborates with 22 Natural Capital Funds (NCFs) across Europe, the UK and Singapore to identify scalable and bankable investment opportunities in large-scale Afforestation, Agroforestry, Aquaculture, Regenerative Agriculture, and Mangrove/Peatland Restoration projects. Over the last three years, Calculus Carbon has built an investment pipeline exceeding $250 million in NbS assets across the Global South. As a market maker, Calculus Carbon undertakes both buy-side and sell-side mandates, deploying institutional best practices from mature asset classes of infrastructure and real estate, to enable a structured and predictable investment process for capital deployment within NbS projects via project financing, equity and structured credit. The firm addresses key investment barriers including information asymmetry, fragmented project pipelines, and the lack of a standardised due diligence process that has traditionally hindered the pace of institutional-scale capital deployment within NbS. By integrating long-term institutional investment structures and models, Calculus Carbon intends to play a role in graduating NbS to being a mature infrastructure sub-asset class over this decade. This stands to evolve the financial predictability, commercial viability and scalability for NbS projects and developers, thereby crowding in larger institutional investors and cheques from the global capital market towards the asset class.