Dec 16, 2011 - The Australian government yesterday launched what it said was the country's biggest venture capital fund for the renewable energy sector, totalling AUD 200 million (USD 200m/EUR 153m).
The government is committing AUD 100 million to the vehicle through the Renewable Energy Venture Capital Fund, while Softbank China Venture Capital will provide matching funds.
Southern Cross Venture Partners Pty Ltd, an Australian venture capital company, has been appointed manager of the fund, which is expected to go live in early 2012.
The Southern Cross Renewable Energy Fund will make early-stage equity investments in high-potential start-ups in Australia's renewable energy sector.
The fund is part of the AUD-3.2-billion Australian Renewable Energy Agency that the government announced earlier this year.
(AUD 1.0 = USD 0.998/EUR 0.766)
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Plamena has been a UK-focused reporter for many years. As part of the Renewables Now team she is taking a keen interest in policy moves.