Clean Energy Seed FundOverview
This fund will focus on unearthing and financing emerging innovations and startups in clean energy. It has been designed to appeal to corporate, institutional, high net worth individuals and impact investors looking to gain diversified exposure to Australian clean energy startups.
As well as targeting high returns for investors, the fund has a number of key strategic goals which include:
- Providing opportunities for partners in the seed fund to make larger, later stage investments.
- Increasing the supply of clean energy startups in Australia by investing and collaborating with a range of accelerators, incubators, universities, angel groups, VC firms and corporates.
- Providing ‘pull-model’ VC support to solve specific problems in the clean energy sector, encouraging greater investment and participation in the early stage clean tech sector and co-investment from a wide range of investors, including high net worth individuals, angel investors, venture capital firms, corporates and institutions.
The fund will invest at seed, angel and later stage follow on rounds in 30 to 50 startups over its four to five years investment period.
A total funding pool of $26 million is available which includes a $10 million cornerstone commitment from the new $1 billion CEFC Innovation Fund.
Eligible applicants include scalable, high growth potential startups fueling innovation and creating opportunities in the development of clean technology. It is looking across sectors such as the:
- Internet of things
- Energy storage
- Alternative energy generation (solar, wave, geothermal, wind)
- Metering and control
- Green building and biomaterials
- Transport technologies
- Water and waste
Eligible projects must be eligible for Clean Energy Finance Corporation (CEFC) finance under the terms of the CEFC’s Investment Mandate.
- Research & Development
- Business Support