Alternatives giant QueenslandInvestmentCorporation (QIC) has thrown its weight behind a climate-focused investment venture capital fund, marking its first-ever Australian VC investment outside its development fund.
Street Talk can reveal QIC has joined cornerstone investors Westpac and Clean Energy Finance Corporation (CEFC) in backing Virescent Venture’s second climate technology fund. QIC investment director Lottie Bryon led the investment. Sources said it has tipped in $10 million, and will take the fund to $125 million.
Virescent is seeking to deploy its 10-year fund into innovative climate tech companies and expects to announce its first investment imminently.
Read the full story tomorrow and more on the Street Talk page.
Arbitrium Capital Partners′ founder Mukhtader Mohammed, a Deloitte restructuring director who left to start an opportunistic credit fund, is locking horns with his former colleagues as he tries to win control of Keystone Asset Management’s embattled $480 million ShieldMasterFund.
Best and worst
The Australian sharemarket extended gains on Monday as hopes of economic stimulus in China resurfaced, boosting optimism about the demand for commodities.
