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Southern Cross secures REVCF mandate

Southern Cross Venture partners has secured the mandate to run the Australian Government’s first Renewable Energy Venture Capital Fund.

The Australian Private Equity and Venture Capital Association (AVCAL) has commended the Government for moving quickly to establish the AUD200 million fund (AUD100m provided by Government and AUD100m by private investors) since announcing its creation earlier this year as part of the Commonwealth’s clean energy strategy.

AVCAL CEO Dr Katherine Woodthorpe (pictured) says the REVCF mandate recognises the unique role venture capital fund managers play in commercialising Australian innovation, and the expertise that they bring including their ability to attract private investment capital.

“The Government recognises that it must play an important part in funding and coordinating investment in innovation if Australia is to help lead the commercialisation of renewable energy technologies,” she says.
“Venture capital fund managers – usually former successful entrepreneurs, scientists, doctors and engineers – are ideally placed to help commercialise Australian innovation by applying a business mindset and working hands‐on with the company founders and management to generate returns for investors.”

 

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