The Climate Venture Capital Fund has published its inaugural Impact Report, marking firsts for the VC sector and for climate reporting in New Zealand.
Launched in 2022, the fund is New Zealand’s first dedicated climate VC fund, targeting emissions-reducing tech in New Zealand and Australia. The report is for the period ending March 31, 2023.
Highlights include:
The fund is the first in New Zealand to disclose emissions from the companies that we invest in (called Scope 3 Category 15)
The fund is also the first to include the overall, systematic impact of our investments (called Scope 4 ‘avoided emissions’) resulting in an equity-weighted negative position on carbon dioxide equivalent (CO2e) emissions
Impact of 69 tonnes of CO2e in reduced emissions for the year from one company, and a clear path to higher emissions savings for FY24 across multiple investee companies
These early-stage impacts are expected to ramp up with the potential to reach 1 million tonnes from other investmets within the first 10 years
Completing its first close in January 2023, including investments from a broad range of institutional, family office and high-net-worth investors
Investing in four companies, including:
MGA Thermal – thermal energy storage, NSW
Cleanery – low emissions powdered cleaning and personal care products, Auckland
Liquium – green ammonia, Wellington
Zincovery – recycling zinc without using coal, Christchurch
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Confirming commercial terms for two follow-on investments
