The Top 10: #4 Xin Ma, managing director of Asia platform, Total Carbon Neutrality Ventures

Girish Nadkarni, president of France-headquartered energy company Total’s corporate venture capital (CVC) fund, Total Carbon Neutrality Ventures (TCNV), said: “Xin has been part of TCNV since 2017 and is currently the head of our Asian investment group. She is responsible for investing in companies and funds in China, India, Japan and Southeast Asia.

“In a short period of time, she has built a strong reputation in these markets and led $50m anchor investment in the Cathay Smart Energy Fund and direct investments in Grab, G7 and Canopy. She is a frequent speaker at venture and industry conferences in and relating to Asia.”

Xin Ma, who is the managing director of TCNV’s Asia platform, said: “The global energy industry is undergoing an unprecedented transition of electrification, decentralisation, digitalisation and decarbonisation. Total, together with its fellow companies such as Shell and BP are playing an important and positive role during this transition for a better and more sustainable energy future.

“TCNV is pioneering the search for the most innovative business solutions and technologies, covering a wide range of exciting subjects from energy storage, energy efficiency, hydrogen and biofuel and gas, smart energy, advanced mobility services and energy solutions, as well as the circular economy – recycling, CO2 and methane. It is an exciting ongoing adventure to work with the best talents in the industry to be part of a fundamental change for a better energy future.”

Ma is most proud of having created and grown TCNV’s Asia activities. “When I joined TCNV, all our investments are focus on North America and Europe,” she explained. “Meanwhile, we have realised the importance of Asia as an important player for the energy industry with 28% of the world GDP, and around half of the world’s population and CO2 emission.

“Although with a much shorter history than the US and EU, Asia’s VC industry has grown handsomely, hosting 30% of the world’s unicorns. After three years of hard work, our Asia platform now hosts three investments funds and three portfolio companies, covering a wide range of energy, mobility subjects and sustainability subjects. We are also extremely privileged to have built a valuable partnership network in the region and have largely localised ourselves.”

Ma’s ambition is to further grow the Asia-Pacific (APAC) activities, become a reference CVC in the energy and cleantech VC industry in Asia that would attract the top startups in the field to work with TCNV. “[I’d like to build] a highly professional team and a solid portfolio in APAC, and by interacting with our business within the group, to really make a difference for energy transition in Asia. We would like to be an indispensable and proud part of Total’s global ambition to provide a better and sustainable energy future globally.”