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 goal is to deploy $200 million or more over the next five years across key thematics, such as clean energy transition, food and agriculture, circular economy, and mobility.

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