Australian Industry Minister Ian Macfarlane said the fund would invest in early stage companies in the clean technologies sector and is expected to make between 15 and 20 investments.

“Investments will be made in companies with technologies that generate superior commercial benefits for customers, while also addressing significant environmental concerns, such as climate change and water scarcity,” he said.

“The fund will have a blended portfolio of seed and early expansion investments across a variety of sectors, including renewable energy, energy storage and efficiency, low emissions technology, water recycling and pollution reduction."

Cleantech Ventures established the fund with a capital investment of $50 million, with the potential to raise more. This is boosted by Australian Government support of $20 million and $30 million from VicSuper, a superannuation fund.

Macfarlane said long-term success in commercialising Australia’s world class R&D depended on investment from the venture capital sector.

For more information visit www.cleantechventures.com.au