Cleantech Ventures’ “Cleantech Australia Fund” is a $50 million venture capital fund which had its first close in September 2007.
The current fund is made up of $20 million provided through the Australian government’s Innovation Investment Fund (IIF) program and $30 million from VicSuper, a superannuation fund committed to sustainability.
The Hon Ian Macfarlane MP, Minister for Industry, Tourism and Resources announced the closing of the fund on 11 October 2007.
The Cleantech Australia Fund focuses on investments in eligible companies that are commercialising clean technologies; those which generate superior commercial benefits to customers whilst simultaneously addressing significant environmental concerns such as climate change, water scarcity, water quality and resource constraints.
International investment in the cleantech sector has grown significantly in recent years and the Cleantech Australia Fund will leverage Australia’s strong innovation and R&D skill base. The fund will focus mainly on investments in expansion stage companies that are addressing local and international markets. A proportion of the fund will also be directed to seed stage investments.
Companies seeking investment funds for the development and commercialisation of clean technologies are invited to submit a detailed business plan or information memorandum.