Australasian venture capital firm Pacific Channel has announced its acquisition of ENGIE Factory Asia Pacific – a startup studio of ENGIE Group.
This includes the securities ENGIE Factory holds in seven early-stage climate-tech ventures focused on solar solutions, climate markets, data-centre efficiency and bioenergy. These ventures include Amplicity, GetSolar, PHNXX, Polar Cold, Verta Bioenergy and Qatalyst.
Pacific Channel managing partner Brent Ogilvie said the acquisition marked a landmark milestone for the firm.
“This marks a significant expansion of Pacific Channel’s climate-tech investment platform across the Asia-Pacific region, extending our presence and active early-stage investment model beyond Australia and New Zealand into Southeast Asia,” Ogilvie said.
With more than 20 years’ experience investing in deep-tech ventures, Pacific Channel has achieved 11 successful exits across its portfolio.
ENGIE Factory will take this growth strategy a step further.
“The seven early-stage climate-tech ventures have strong foundations, and we are pleased to be able to apply our active investment model to provide the founders and management teams with the specialist investment support, governance experience and access to our networks needed to help them move into their next phase of growth,” Ogilvie said.
“Through the acquisition, Pacific Channel will support the ventures through their next phase of growth and commercial development, while ENGIE Innovation will continue to provide corporate support to the ventures where relevant, through its wider innovation ecosystem.”
As part of the acquisition, Pacific Channel will retain Singapore-based ENGIE Factory team members, with Tim van Vliet to join Pacific Channel as principal and Southeast Asia region manager – an appointment that will help ensure continuity for the ventures and ongoing local capability.
The acquisition will see Pacific Channel move into Singapore, with the company’s Australia, New Zealand, and Singapore bases to form a strong foundation for the firm’s climate-tech activity.
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