Image Credit: Amber Electric
Sydney based early-stage climate technology investor Impact Ventures announced on Tuesday that it has reached $10 million under management and secured first close for its inaugural follow-on fund that will increase funds deployed to $2 million annually.
Founded in 2021, Impact Ventures has gone on to back over 50 climate technology start-ups including renewable energy retailer Amber Electric, energy software company Orkestra, and aerial robotics firm Infravision.
Impact was able to secure investor access to these start-ups thanks to its partnerships with acceleration programs such as EnergyLab, Australia’s largest climate tech startup accelerator, as well as Boomerang Labs, Rocket Seeder, and OIO.
The investor has now passed $10 million under management for the first time as it reached the first close of its annual $1 million follow-on fund.
Follow-on funding is additional capital for subsequent investments in existing portfolio companies, ‘following on’ from initial funding rounds. Impact Venture’s follow-on fund is designed to continue investing in the most successful start-ups across its portfolio as their business models mature and they begin to experience strong growth.
The follow-on fund also provides access for local investors to Australia’s start-up cohort as it rapidly expands into international markets.
Final close on the follow-on fund is expected to be completed sometime this month before it is deployed over the next 12 months.
“Our startups deliver critical technologies for the energy transition that are rapidly being deployed in Australia and internationally – from grid rollout through to sophisticated distributed energy management,” said James Tilbury, Impact Ventures co-founder and partner.
“Our alumni have had great support from Australian investors to date, and we’re looking to extend that support as they move into their growth phases.”
If you would like to join more than 29,000 others and get the latest clean energy news delivered straight to your inbox, for free, please click here to subscribe to our free daily newsletter.
Australian battery maker whose customers include the federal energy minister has gone into voluntary administration,…
A major new transmission line that the state opposition has vowed to scrap is seeking…
One of Australia's largest technology companies has signed a decade-long deal with a community-owned solar…
South Australia Labor decides not to make consumers pay for gas installations up front, declaring…
Big wind and battery project approved by independent panel, subject to conditions, after state planning…
Origin Energy has dropped plans to develop a major wind farm intended for 10 kms…