By the time most investors were still debating whether sustainability was a passing trend, Setareh Heshmat had already built her career around it.
The 32-year-old Director of ESG Investments at a Singapore-based venture capital firm has spent the better part of a decade proving that doing good and generating returns are not mutually exclusive. Today, as climate anxiety reshapes boardrooms and investor priorities across the globe, her conviction is looking less like idealism and more like foresight.
A Foundation Built for the Future
Setareh’s path into ESG investing was anything but accidental. Armed with a Bachelor’s degree in International Business and Finance from the National University of Singapore, she went on to complete a Master’s in Finance and Sustainability from INSEAD — one of the world’s most respected business schools. She also holds a CFA designation and has deepened her analytical edge through advanced data analytics programs at MIT.
This combination of rigorous financial training and sustainability expertise gave her a rare dual lens: the ability to evaluate a startup’s growth potential while simultaneously stress-testing its environmental and social impact.
“Most people treat ESG as a checklist,” she has noted in professional circles. “The real opportunity is in treating it as a value creation framework.”
Why Southeast Asia Is the ESG Frontier
While much of the global ESG conversation has been dominated by Western markets, Setareh is firmly focused on Southeast Asia — and for good reason.
The region is home to over 675 million people, a rapidly growing middle class, and some of the world’s most climate-vulnerable ecosystems. At the same time, it is experiencing an unprecedented surge in startup activity, digital adoption, and cross-border investment. For Setareh, this convergence creates a once-in-a-generation opportunity.
“Southeast Asia is not just catching up to global sustainability standards — it has the chance to leapfrog them,” she has argued. “The infrastructure isn’t fully built yet. That means founders here can design with sustainability from day one, not bolt it on later.”
Her work at the firm reflects this thesis. She focuses on sustainable and climate-focused startups, backing companies that are building solutions to real environmental problems while maintaining strong governance and social accountability.
The ESG Investor’s Toolkit
What sets Setareh apart from many in her field is her insistence on data-driven impact measurement. Drawing on her MIT analytics training, she applies quantitative frameworks to assess not just financial performance but measurable ESG outcomes — carbon reduction, community employment, gender equity in leadership, and more.
She is also a close observer of the Web3 and decentralized finance space, recognizing that blockchain technology holds significant promise for transparency in ESG reporting. Tokenized carbon credits, on-chain supply chain verification, and decentralized governance structures are areas she watches with particular interest — themes that bridge her background in fintech advisory with her current focus on impact investing.
Venture Capital With a Conscience
Critics of ESG investing often argue that sustainability constraints limit returns. Setareh pushes back on this with both evidence and experience.
Research consistently shows that companies with strong ESG profiles demonstrate greater resilience during market downturns, lower regulatory risk, and stronger talent retention. For venture capital specifically, backing mission-aligned founders often means backing founders who think long-term — a quality that correlates strongly with startup success.
“Ethical business practices are not a handicap,” she explains. “They are a competitive advantage — especially as regulation tightens and consumers grow more discerning.”
Her track record supports this view. Under her guidance, the firm has identified and supported a growing portfolio of climate-tech and impact-driven startups that are generating both measurable social good and compelling financial returns.
Mentorship as a Multiplier
Beyond her investment work, Setareh is deeply committed to mentoring women entrepreneurs — a cause that directly informs her long-term ambition: launching her own sustainable investment fund focused on supporting female founders across Southeast Asia.
She sees this not as charity, but as a strategic gap in the market. Women-led businesses in the region remain chronically underfunded despite strong performance data. Closing that gap, in her view, is both the right thing to do and a smart investment decision.
She regularly makes time for mentorship alongside a demanding professional schedule that also includes pilates, yoga, and marathon running — disciplines that she says mirror the patience and consistency required in long-term investing.
Looking Ahead
The global ESG investment market is projected to surpass $50 trillion in assets under management in the coming years. Southeast Asia, with its unique blend of growth potential and environmental urgency, is poised to be one of the most consequential battlegrounds for sustainable capital.
Setareh Heshmat is already there — not waiting for the future, but actively building it.
For the next generation of investors wondering where purpose and profit intersect, her career offers a compelling answer: right here, right now, in the heart of Southeast Asia.
