The Renewable Energy Venture Capital (REVC) Fund Program is administered by Southern Cross Renewable Energy Fund under a 13-year $100 million venture capital fund established by the Australian Government.
Southern Cross Venture Partners (SXVP) was awarded the licence to manage the Renewable Energy Venture Capital Fund. The Australian Government’s $100 million investment has been matched dollar for dollar by Softbank China Venture Capital (SBCVC), a leading venture capital firm in Asia, creating a $200 million fund dedicated to renewable energy. The fund managers will be based in Sydney, Australia, and the Silicon Valley, with linkages to Asia through SBCVC’s offices in Shanghai.
The primary objectives of the fund are to:
- increase the number of Australian renewable energy and enabling technology companies that are successful in Australian and overseas markets
- foster the skills and management capability of Australian renewable energy and enabling technology companies by providing active investment management
- leverage additional investment in Australian renewable energy technology and enabling technology companies from the private sector, including from international sources.