Cleantech Australia Fund, New Cleantech Fund, venture capital, Innovation Investment Fund, IIF

Funds under management - Cleantech Australia Fund

Funds under management

Cleantech Ventures' "Cleantech Australia Fund" is a $50 million venture capital fund which had its first close in September 2007.

The 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 has leveraged Australia's strong innovation and R&D skill base. The fund has focused mainly on investments in expansion stage companies that are addressing local and international markets.

The Cleantech Australia Fund is now in its second 5 year term and therefore is unable to make new investments in companies not part of its current portfolio.