Investable launches A$100 million fund for climate tech startups – TechCrunch

investable, a Sydney-based early stage venture firm known for investments in canvas and other major Australian startups, announced today that they will raise A$100 million (about US$72.3 million) for the Climate Technology Fund. This is the first time that Investible has launched a sector-focused fund. her first two boxes, Including 50 million Australian dollars Closed earlier this year, both are sector-neutral.

Last month, Investable also said it would launch green houseThe Center for Growth and Innovation for Climate Technology Startups, in partnership with the City of Sydney. Once it opens next year, Greenhouse will bring together startups, researchers, academics and businesses, including climate technology companies outside of the Investible portfolio.

said Tom Klein, one of the chief experts for the Climate Technology Fund.

The fund will invest in initial rounds, but retain half of its capital for subsequent financing. It will primarily support Australian companies, but it also plans to allocate up to 30% of the fund to international companies. It focuses on the six sectors identified by the United Nations Environment Program As the most important ones to reduce climate change and global warming: energy, transportation, industry, buildings and cities, food and agriculture, forestry and land use.

The fund will be led by Klein, the former CEO of Renewable Energy new solar energyand Patrick Sepp, who has invested in tech companies since 2014 and has specifically focused on climate tech startups since 2019.

“With each passing year, we notice that we need to do more in the space, and from the other extreme, Investible is seeing a deal flow of 1,500 to 2,000 deals per year, an increasing number of which have been climate-focused,” Klein told TechCrunch about the company’s decision to launch a fund. Focuses on the climate after being neutral in the sector.

He added that more people are paying attention to climate change and it is driving consumer choices and pushing companies to become more transparent. More governments are also setting goals that require significant technology – and capital – to achieve.

Investible’s Climate Fund will typically participate in initial rounds starting at around A$1.5 million, contributing up to 30%, around A$500,000. Subsequent checks can run into several million dollars.

The fund will use the same investment process as sector-neutral mutual funds, but with climate-focused criteria. For example, you might consider how much emissions it can reduce, the founding team, the size of the opportunity, and how long it will take to develop and invest in the technology.

“Scientists have been talking about climate change for decades and there has been a lot of controversy, but I think we are finally at the point where the debate is over and people are acknowledging that this is man-made and we really have to take action on this,” Klein said.

Leave a Reply

Your email address will not be published.