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VCs make $200m bet that climate tech’s time has come

Virescent Ventures has announced that they have deployed over $260m in capital into 33 Australian climate tech startups. Established in 2022 by the Clean Energy Finance Corporation (CEFC), Virescent Ventures plans to raise a new fund (Fund II) of approximately $200 million, aiming to further catalyse private sector investment in Australian climate tech. Fund II’s […]

Relectrify achieves world-first certification for cell-level control in commercial battery product

Virescent Ventures portfolio company Relectrify today announced the ReVolve® energy storage product, featuring its patented cell-level control technology, has achieved certification to comply with stringent international safety standards and to specific grid connection codes. Relectrify will now supply its world-first BMS+Inverter — combined battery management system and inverter — technology to customers for grid interactive […]

Samsara Eco banks $54m Series A funding to scale infinite recycling

Virescent Ventures portfolio company Samsara Eco, using plastic-eating enzymes to produce recycled packaging, has banked $54 million Series A funding to build its first commercial 20,000-tonne facility in Melbourne. Clean Energy Finance Corporation Innovation Fund (managed by Virescent Ventures), Woolworths Group’s W23 and Main Sequence are joined by Breakthrough Victoria, Temasek, Assembly Climate Capital, DCVC […]

SunDrive raises $21m Series A to supercharge solar panel efficiency and drive down costs

Clean Energy Finance Corporation (with funds managed by Virescent Ventures) co-lead the $21 million Series A investment in Australian company SunDrive to help commercialise revolutionary solar technology that replaces silver with copper to improve solar panel efficiency and reduce costs. At nearly 100 times cheaper than silver and far more abundant, the switch to copper […]

Sharks on a plane! Sydney start-up plans to save airlines $61b a year

Australia’s Clean Energy Finance Corporation (with funds managed by Virescent Ventures) is backing a Sydney start-up that makes sharkskin stickers that reduce wind drag and could save the aviation industry tens of billions of dollars a year in fuel costs. The start-up, MicroTau, has developed a way to print microscopic, three dimensional “riblets” into huge, […]

Clean Energy Finance Corporation spins off $200m private sector fund

Clean energy start-ups are set for a major boost, thanks to the government-owned Clean Energy Finance Corporation (CEFC) spinning out a specialist venture capital fund that is raising $200 million. Read the full article: https://www.afr.com/technology/clean-energy-finance-corporation-spins-off-200m-private-sector-fund-20220217-p59xa4

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The Virescent Ventures group of companies (the Virescent Ventures Group) includes various entities who are corporate authorised representatives (CAR) of Boutique Capital Pty Ltd ACN 621 697 621 (Boutique Capital) AFSL 508011. The full list of entities is detailed below. Any information or advice is general advice only and has been prepared by the Virescent Ventures Group for individuals identified as wholesale investors for the purposes of providing a financial product or financial service, under Section 761G or Section 761GA of the Corporations Act 2001 (Cth). Any information or advice given does not take into account your particular objectives, financial situation or needs and before acting on the advice, you should consider the appropriateness of the advice, having regard to your objectives, financial situation and needs. If any advice relates to the acquisition, or possible acquisition, of a particular financial product you should read any relevant Product Disclosure Statement or like instrument and consult your own professional advisers about legal, tax, financial or other matters relevant to the suitability of this information. Any investment(s) summarised are subject to known and unknown risks, some of which are beyond the control of the Virescent Ventures Group and their directors, employees, advisers or agents. The Virescent Ventures Group does not guarantee any particular rate of return or the performance, nor does The Virescent Ventures Group and its directors personally guarantee the repayment of capital or any particular tax treatment. Past performance is not indicative of future performance. All investments carry some level of risk, and there is typically a direct relationship between risk and return. We describe what steps we take to mitigate risk (where possible) in the investment documentation, which must be read prior to investing. It is important to note that risk cannot be mitigated completely. Full list of entities: Virescent Ventures Pty Ltd ACN 655 534 660 CAR Number 1295417, Virescent Ventures II Staple Co A Pty Ltd ACN 658 206 814 CAR Number 1298514, Virescent Ventures II Staple Co B Pty Ltd ACN 677 832 281 CAR Number 1310668, Virescent Ventures II Management, LP ILP2200036 CAR Number 1298515, Virescent Ventures II, LP ILP2200037 CAR Number 1298516.

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