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The Queensland government has announced its partnership with specialist venture capital firm Pollination to support local climate and nature technology startups. The collaboration comes in the form of the Climate and Nature Impact Venture Fund, which has received investment from the Queensland Investment Corporation (QIC) through the Queensland Venture Capital Development Fund (QVCDF).

While QVCDF has been making significant investments in various early-stage VCs, it sees great potential in Pollination’s fund, aiming to raise $150 million by 2025. The fund targets family offices and institutional investors, with a minimum investment threshold of $5 million. Its focus areas include energy, carbon and nature management, circular economy, clean industries and transport, and food and agriculture.

Investments from the Climate and Nature Impact Venture Fund will begin later this year, with Series A and Series B startups in the range of $4-12 million. Investors can expect a ten-year term and a five-year investment period. Notable companies already in Pollination’s portfolio include renewable energy startup MGA Thermal and Goterra, the winner of the 2023 Startup Daily Best in Tech Best Sustainability Startup award.

Pollination, a global climate change investment and advisory firm, operates in 13 countries. Its founder and CEO, Martijn Wilder, was appointed by the federal government as the chair of its $15 billion climate change fund.

By backing Pollination’s Climate and Nature Impact Venture Fund, the Queensland government demonstrates its commitment to supporting innovative startups that address pressing environmental challenges and contribute to a sustainable future for the region. This collaboration will not only provide financial resources but also access to expertise and networks in the climate and nature technology sector.