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Australia’s Clean Energy Finance Corporation (CEFC) has announced the arrival of Virescent Ventures, its first specialist fund manager aiming to boost investment capital available for cleantech start-ups.

Through the Clean Energy Innovation Fund, the CEFC invests in early-stage clean technology companies, and it is already the largest specialist cleantech investor in Australia.

Virescent Ventures is co-owned by the CEFC and its founders, former senior executives with the Clean Energy Innovation Fund.

The new fund manager is targeting a $200 million capital raising, with the CEFC expected to be a cornerstone investor alongside superannuation funds, strategic investors and large family offices. 

CEFC CEO, Ian Learmonth, who joins the Virescent Ventures Board, said, “We are seeing enormous market interest in the commercialisation of innovative technologies and business models which can accelerate the transition to net zero emissions.

“The success of these companies can benefit our economy and our environment, while enabling Australian innovators to play a leading role in the sustainable economy of the future.

“This is about capitalising on the robust investment performance and skills of the Clean Energy Innovation Fund, to bring much needed capital and specialist domain expertise into this critical part of our economy.”

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