TLDR:
- Queensland government backs Pollination’s $150 million fund for climate and nature technology startups.
- The fund aims to raise $150 million with a minimum buy-in of $5 million and focus on Series A and Series B investments.
Article Summary:
The Queensland government has decided to support the new fund launched by Pollination, a specialist venture capital firm, geared towards climate and nature technology startups. The fund, named Climate and Nature Impact Venture Fund, has the Queensland Investment Corporation (QIC) as the main investor. QIC supports the fund through the Queensland Venture Capital Development Fund (QVCDF). The fund aims to raise $150 million and requires a minimum buy-in of $5 million. It is set to focus on Series A and Series B investments, with a ten-year term and a five-year investment period. The fund will target various sectors such as energy, carbon, nature management, circular economy, clean industries, transport, food, and agriculture. Pollination, as a global climate change investment and advisory firm, operates in 13 countries and has a strong presence in the market. The Chief Investment Officer of Pollination, Diana Callebaut, stated that the fund would target the growing opportunities arising from the transition to net zero and nature-positive practices across industries.
Martijn Wilder, the founder and CEO of Pollination, highlighted the importance of creating the fund at the right time to match the rising demand for climate and nature solutions. The fund aims to provide support to emerging climate tech companies in Australia and connect them to global markets seeking innovative solutions. Lottie Tant, the investment director at QIC Private Equity, emphasized the fund’s value in supporting local clean energy and technology startups in Queensland. With a focus on closing the early-stage funding gap in Series A and B space, the fund aims to propel local innovators in tackling global challenges related to climate change and nature preservation.
