In a world where capital has long been synonymous with cold efficiency and bottom-line thinking, Setareh Heshmat is building something different — something radically intentional. As the Director of ESG Investments at a leading venture capital firm in Singapore, she has carved out a niche that marries ethical vision with financial acumen. Her portfolio is a dynamic mix of climate tech startups, sustainable consumer brands, and impact-driven fintech disruptors. But beneath the surface of deal sheets and pitch decks lies a deeper strategy — a philosophy she calls “purpose-driven venture capital.”
Setareh’s approach doesn’t start with a term sheet; it starts with values. She believes that the most successful startups of the next decade won’t just be agile — they’ll be accountable. In her words, “We’re not in the business of chasing the next unicorn. We’re in the business of building resilient ecosystems. And that means investing in founders who see sustainability not as a marketing tool, but as their company’s operating system.”
Her journey to this mindset wasn’t accidental. Raised in a household where global affairs and ethical discourse were everyday conversations — her mother, a university professor in cultural studies, and her father, a real estate developer who shifted to green infrastructure in the early 2000s — Setareh was primed early for a life of bold ideas grounded in real-world impact. After earning a Bachelor’s in International Business & Finance from the National University of Singapore and a Master’s in Finance & Sustainability from INSEAD, she immersed herself in the world of impact investing. From the beginning, she gravitated toward startups operating on the fringes of traditional venture capital — clean energy in underserved communities, AI-powered supply chains that tracked ethical labor, blockchain tools for environmental monitoring.
In her day-to-day, Setareh doesn’t just evaluate a company’s market size or growth potential. She dives into how they measure environmental impact, how diverse their leadership is, and whether their governance structures are future-proof. She’s known for asking hard questions: “Who’s holding your company accountable when no one’s watching?” or “If you scale 10x, what happens to your carbon footprint?” These aren’t traps — they’re entry points to deeper conversations. And more often than not, they’re what help her identify founders who are building something with lasting integrity.
Setareh’s style of investing is not about policing ideals; it’s about partnership. She embeds herself in the journey of every founder she backs — helping them craft ESG dashboards, navigate B-Corp certifications, or prepare for high-stakes negotiations with investors who may not speak the same sustainability language. Her background in data analytics allows her to bring precision to impact metrics, but she’s also unafraid to lead with intuition. “I’ve walked away from very promising deals simply because something didn’t feel aligned. You learn to trust that gut check — especially when you’ve seen how messy the back end of ‘greenwashing’ can get.”
Her network is sprawling — from climate scientists in Jakarta to female fintech leaders in Ho Chi Minh City. But what ties it all together is her commitment to Southeast Asia’s unique intersection of biodiversity, rapid development, and innovation potential. She’s vocal about the need for localized ESG frameworks, pushing back against Western-centric models that fail to account for the region’s complexity. “Sustainability in Manila looks different from sustainability in Munich — and our investing models need to reflect that nuance.”
Beyond the boardroom, Setareh’s leadership style is deeply personal. She mentors young women navigating the world of finance, speaks at international summits on ethical investing, and still finds time to document her thoughts on a private blog where she writes candidly about the emotional dimensions of money, leadership, and trust. Recently, she’s begun drafting the blueprint for her own sustainable fund — one that will center female entrepreneurs building climate-resilient businesses across Southeast Asia. “It’s not just about funding women — it’s about backing a new kind of leadership. One that’s collaborative, conscious, and rooted in long-term thinking.”
In a field often driven by hype and fast exits, Setareh Heshmat stands apart — not just as a strategist, but as a steward of a different kind of growth. Her playbook for purpose-driven venture capital is not just a framework — it’s a philosophy. One that sees finance not as the enemy of change, but as one of its most powerful levers.
As she puts it, “Smart money doesn’t just follow trends. It anticipates the future — and right now, the future is green, inclusive, and intentional.”
