Climate change investment and advisory firm Pollination will bring its landmark Climate and Nature Impact Venture Fund to Queensland with a foundation commitment from Queensland Investment Corporation (QIC).
Backing breakthrough solutions for the net zero transition and nature positive future, the Fund has secured a binding term sheet from the QIC-managed Queensland Venture Capital Development Fund (QVCDF) to invest as a cornerstone investor once matched capital is raised for the fund.
QIC Private Equity Investment Director Lottie Tant said Pollination’s global footprint and deep climate expertise provides a specialist value-add to Queensland startups in the clean energy and technology sector.
“By providing scale-up capital to proven and innovative climate technologies in Queensland, a priority sector for our state, this landmark fund will help to close an identified early-stage funding gap in the important Series A and B space,” Ms Tant said.
“Together, we can support local innovators addressing the global challenges of climate change and nature preservation, leveraging Pollination’s global platform.”
Pollination CEO Martijn Wilder said the QVCDF funding will help to catalyse further investment in climate and nature from the private sector.
“This investment is helping to underpin the first early-stage fund in Australia to combine climate and nature tech, making sure that the opportunity for investors matches market demand as the world mobilises to address the climate and nature crises,” Mr Wilder said.
Pollination Chief Investment Officer Diana Callebaut said the firm has built a reputation for world-leading expertise on climate and nature issues and as an investor and asset manager with vision and credibility.
“The Climate and Nature Impact Venture Fund draws on our expertise and networks to help drive much-needed investment into the Queensland and Australian innovators who are responding to the biggest challenges our world faces,” Ms Callebaut said.
“We know there is currently a gap between the innovators and entrepreneurs whose ideas and innovations will be needed to drive the transition and the capital they will need to develop, scale and commercialise their solutions.
“Pollination’s fund is helping to bridge that gap -- accelerating the transition to a net zero and nature positive future, while also unearthing outstanding investment opportunities.
“We know that Queensland has a vibrant innovation and startup culture and that this is underpinned by an environment that is not only good for doing business but great for starting one. Staff in our Brisbane office, as well as those across our global network, are looking forward to the positive impact Pollination’s fund can create, for Queensland and for all of Australia.”
The Queensland Venture Capital Development Fund comprises three core elements:
- Matched Funding – Queensland Government’s cornerstone funding is being matched by investors into a select group of leading venture capital funds
- Accelerator Funding – series of accelerator programs to build pipeline of investment-ready businesses, increasing deal flow for Queensland investors
- Development Program - appointed venture capital funds and accelerators participate in the Development Program to accelerate, develop and enhance Queensland's venture capital industry
Venture capital firms funded by the QVCDF program have already invested more than $8 million into seven Queensland start-ups.
For more information, visit www.qic.com/qvcdf.
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QIC’s Private Equity team manages A$8.5 billion (as at 31 Dec 2023) globally in venture capital, growth equity and private equity via funds, co-investments and direct investments on behalf of government, superannuation and institutional investors. We aim to be a partner of choice for our portfolio companies and general partners, with sufficient scale to be meaningful, but small enough to maintain our selectivity.