Change Brings Opportunity
The Climate Venture Capital Fund invests in companies that deliver high growth, high returns on investment – and high climate impact. We are focused on New Zealand and Australian companies, at least for now.
We will easily exceed our goal of 1 million tonnes per $50 million committed – indeed each of our first three investments might deliver more than that goal alone.
We have an external impact committee to validate impact, and are using measure OI5951 from the IRIS+ Metrics developed by the Global Impact Investing Network to measure and report impact.
We all need to do our bit, and the Climate Venture Capital Fund allows investors to align venture capital investing with impact goals and companies to prove their climate credentials.
We firmly believe that high impact on emissions is a strong sign that companies will outperform their peers. Meanwhile many of the companies we see are not created for impact, but impact is an output of a competitive advantage. So there is a negative tradeoff for us – the higher the emissions reductions, the higher the likely returns, especially in a world of ever-increasing carbon prices.
Get in touch if you would like to know more.
Our Investments
Making 24/7 renewables a reality.
MGA Thermal is a revolutionary Australian clean energy company with a breakthrough form of energy storage. MGA Blocks store and deliver thermal energy while remaining outwardly solid. They are the missing piece of grid decarbonisation, turning renewable energy into clean steam and power that’s available any time of the day.
No compromise cleaning.
Cleanery’s low waste cleaning & personal care products come as a powder that dissolves in water at home to create an ultra-effective clean. Wave goodbye to single-use plastic bottles and say hello to super clean, super green.
Decarbonising zinc recycling.
Zinc is the fourth most used metal which is an essential resource in renewable energy, vehicles, and infrastructure. Zincovery is building an alternative to the current carbon intensive zinc recycling process.
Green CO² for Horticulture.
The Hot Lime Labs CO² capture system converts wood waste biomass into clean CO² for commercial greenhouses, increasing crop productivity and growth.
Ambient ammonia for a cleaner, more efficient future.
From beginnings as a research discovery at Te Herenga Waka—Victoria University of Wellington, Liquium has reimagined a future where clean ammonia will be pivotal to decarbonisation and energy security.
Latest News & Views
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Mind the gap: a global race for offsets means NZ’s emissions reductions will have to come from NZ
With COP27 a fizzler, where can we find hope? Jez Weston wonders if it’s in finance
Why we’re backing Zincovery for zinc recycling without coal
The Partners.
Rohan MacMahon
25 years of executive, consulting and analyst experience including with climate-related change projects.
- Leading investor outreach at CVCF
- Director-designate for Cleanery, a portfolio company
- Substantial experience at large-scale infrastructure-type projects, telecommunications, ESG,
- Former Ministerial advisor on technology/ digital policy, Chair of Lifewise Trust
- B.Ec. and LLB, Sydney University. Member, Responsible Investment Association & Sustainable Business Network
Lance Wiggs
2040 Ventures founder with a wealth of global experience including with high growth companies and major emitters.
- Co-founder of Punakaiki Fund, NZ VC with assets of $98 million as at March 31 2022. Invested into 28 companies through over 120 rounds. Exits from Vend, Timely, Moxion, Linewize
- Experienced in working with major emitters, industrial supply chains and large-scale projects
- B.Tech. (Product Development, Hons), Massey University; MBA (Strategy, Finance), Yale
Dr Jez Weston
An expert in climate policy & science matched with experience in science investment & managing commercialisation funds.
- Leading the investments process for CVCF, with 4 investments complete
- Board observer for Liquium, a portfolio company
- Five years as manager of the Commercialisation Partner Network and the PreSeed Accelerator Fund, supporting Auckland UniServices and KiwiNet to create economic growth from research. Managed over $500 million of contracts for Government
- Investment Committee member for Return on Science
- Deep experience in climate policy and science
- PhD in Engineering (Cambridge), BEng Materials Science (Bath) and GradDipComm Economics (Victoria University of Wellington)
The Climate Impact Committee.
Tasked with governing climate impact and measurement, it will have power of veto over proposed investments by the Fund.
Dr Jodi York
ImpactAbility Solutions & U.Melbourne.
Jodi is an expert in impact – how to fund, create, measure, communicate, manage, and multiply impact to tackle entrenched social problems. She works with the Impact Management Project, Impact Investment Partners, Kilara Capital, and Brightlight Impact.
Lucie Greenwood
KPMG
Lucie works to deliver practical solutions to transform the economy to one that is socially and environmentally fair by design. Her current focus is climate change strategy for some of Aotearoa’s largest businesses. She has been a researcher with the Akina Foundation and the Lowy Institute and has a Masters from Cambridge.
Juhi Shareef
Chief Responsibility Officer at Tourism Holdings Limited & Chair of the Battery Industry Group.
Juhi helps firms introduce resilient, regenerative, and exponential technologies and business changes. She has worked as a global sustainability strategy advisor for firms including Vector, Marks & Spencer, the Kering Group, Stella McCartney, Wembley Stadium, and the Football Association and has a Masters from Harvard.
Nicolette Boele
Responsible Investment Association Australasia.
Nicolette works to enable new ideas, skills & capital for private, public and third sectors to work together for fuller participation, increased productivity and sufficient prosperity. Her work has included the Clean Energy Finance Corporation, the Investor Group on Climate Change, The Climate Institute, and the Sustainable Energy Development Authority.
Professor Shaun Hendy
Te Pūnaha Matatini & Toha NZ.
Shaun leads Auckland University’s Centre for Complex Systems and Networks, co-founded the Toha NZ environmental marketplace for climate and environmental impact, and leads COVID-19 epidemic modelling for the National Crisis Management Centre. His book “#NoFly – Walking the Talk on Climate Change” explored the hard questions about adaptation to a low-emissions future.
2040 Ventures team track record.
Chris Humphreys
2040 Ventures co-founder with significant investment and corporate finance experience.
- Co-founder of Punakaiki Fund (as above)
- Corporate finance expertise from Punakaiki Fund, Deloitte, Pacific Fibre. Director of Devoli.
- Lead on valuation, due diligence and formal processes for a large portion of Punakaiki Fund’s investments to date.
- BSc and PGDipCom (Finance), University of Otago; BComm (Accounting, Finance, Information Systems), University of Canterbury; CFA charterholder
Nadine Hill
An experienced investment professional with strong record in international capital.
- Punakaiki Fund Partner and responsible for the investments team
- Director of several SaaS portfolio companies
- 15 years of experience in international capital
- Previous roles with Westpac and NZTE
- B Comm/ Finance (Massey University)