An Australian fund has partnered with Indonesia's biggest bank to launch a $230 million fund focused on climate-focused technology start-ups in Southeast Asia. The fund aims to foster domestic capability in deep tech manufacturing, including solar panel manufacturing.
is a much-needed step towards making the country more competitive, as his fund tapped Indonesia’s biggest bank to anchor a new $US150 million fund, which it will run out of Singapore., that the government’s intention to foster domestic capability in deep tech manufacturing was “overdue,” and that it was currently more efficient to set up big investment vehicles like his elsewhere in Asia. Its new fund will target climate-focused technology start-up investments across South-East Asia.
He said keeping the syndicate model going was a unique asset for the more formal funds because its investors were present across the region, and accessible to assist its portfolio companies, while also increasing potential deal flow. Mr Bristow has a background in both banking and the business side of environmental development and preservation. He was previously managing director of CommSec at Commonwealth Bank, before running environment enterprise Greening Australia.
Investible has developed a good track record both in Australia and regionally. It was an investor in Car Next Door, which wasin what Mr Bristow described as a “nine-figure sum” exit. It claims to have invested $124.5 million so far, with 14 partial or full exits, and two unicorn portfolio companies in Canva and makeup subscription firm Ipsy.
Australian Fund Indonesian Bank $230 Million Climate-Focused Tech Fund Southeast Asia Deep Tech Manufacturing Solar Panel Manufacturing
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