Wollemi backs Ecotone’s $25m first close of combined debt and equity climate fund
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The news: Melbourne-based Ecotone Partners, a climate-focused capital advisory firm, has closed $25 million for the first round of its Planet Fund.
The context: The Planet Fund, described as the first climate-focused combined debt and equity fund in Australia, invests in commercially ready, capital-intensive companies with proven technologies that deliver near-term emissions reductions, the company said in a statement.
Investors include Wollemi Capital Group, Tripple, Understorey Ventures, clients of Argus Advisory and climate investor John McKinnon.
The fund’s first investment deal was a combined equity and debt contribution to National Renewable Network’s $67 million capital raise.
Ecotone was founded four years ago to advise climate-focused businesses on raising capital and launched the fund to fill what it says is a gap in Australia for combined debt and equity financing.
The source: Media release
