Virescent Ventures

Virescent Ventures is an Australian climate venture capital firm dedicated to investing in innovative founders, technologies, and businesses that contribute to achieving zero emissions and beyond. The firm focuses on addressing the largest and most challenging sources of emissions across various sectors. Their investment strategy encompasses deep tech and business model innovations, including both software and hardware solutions, aiming to remake the physical economy in line with climate goals. Virescent Ventures seeks investments that deliver both significant emissions impact and strong commercial returns.

The firm was established in 2022, spinning out of the Clean Energy Innovation Fund, which is part of the Clean Energy Finance Corporation (CEFC). This origin provides Virescent Ventures with a strong foundation and deep expertise in the clean energy sector. They manage the Clean Energy Innovation Fund (Fund I) on behalf of the CEFC, which has deployed over $270 million across numerous climate tech investments. Additionally, Virescent Ventures launched Fund II in August 2024, targeting $200 million to further catalyze private sector investment in Australian climate technology opportunities.

Virescent Ventures invests across a broad spectrum of climate-focused areas, including clean energy transition (low-cost renewables, green hydrogen, decentralized generation), mobility and smart cities (electrification, sustainable transportation, built environment), food and agriculture (regenerative agriculture, waste reduction, digitization), and the circular economy and industry (redefining waste, efficient production, new industrial processes). Their portfolio includes notable companies such as AgriWebb, Amber, Hysata, JET Charge, Loam Bio, and Relectrify, among others, demonstrating their commitment to diverse climate solutions.

The leadership team comprises experienced professionals in the venture and cleantech sectors, including Managing Partners Ben Gust and Kristin Vaughan, and Partner Blair Pritchard. Their collective expertise, combined with the firm's strategic backing from institutions like the CEFC, Westpac, and QIC, positions Virescent Ventures as a leading force in Australia's climate tech ecosystem, providing patient capital and strategic guidance to help companies grow, scale, and deliver measurable climate impact.