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Lance Wiggs-backed Climate Venture Capital Fund makes first investment.
Climate Venture Capital Fund (CVCF) wants more competitors in the ‘climate anything’ investment space, with a recent Callaghan Innovation report noting the extent of New Zealand’s underinvestment in climate technologies compared
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Wednesday, 4 August 2021, 1:59 pm
Climate Venture Capital Fund, New
Zealand’s only dedicated climate-change venture capital
fund, has made its first investment.
The New
Zealand-based fund invested in MGA Thermal, an Australian
clean energy company that uses state-of-art metallurgy to
create shoebox-sized composite blocks for storing renewable
energy.
“We are thrilled to make this investment,
not just because it’s our first, but because MGA Thermal
shows such promise,” says
Dr Jez Weston,
a partner in CVCF.
A trained metallurgist, Dr Weston
led CVCF’s investment process. “The company perfectly
fits our criteria, which is to deliver venture-level growth
and financial returns, alongside high emissions reductions.