About the program
The Southern Cross Renewable Energy Fund is a 13-year co-investment arrangement by the Australian Government, Southern Cross Venture Partners (SXVP) and Softbank China Venture Capital (SBCVC).
The fund is a key element of the Australian Government’s renewable energy strategy and will form part of the independent Australian Renewable Energy Agency (ARENA) set up to support the development, commercialisation and deployment of Australian renewable energy and enabling technologies.
The Commonwealth’s $100 million investment has been matched dollar for dollar by SBCVC, a leading venture capital firm in Asia, creating a $200 million fund dedicated to renewable energy.
The fund will provide venture capital and active investment management to encourage the development of Australian companies that are commercialising renewable energy technologies. These investments will help companies overcome capital constraints, develop technologies, increase skills and forge international linkages. The fund will be based in Sydney, Australia and will also have offices in Shanghai and Silicon Valley.
The program was announced by the Minister for Resources, Energy and Tourism, the Hon Martin Ferguson MP, on 10 May 2011. Applications for the management of the fund closed on 22 June 2011. On 15 December 2011, SXVP was announced as the successful fund manager.
It is anticipated that the Fund will become operational in early 2012. SXVP will make all investment decisions using its own investment criteria and the eligibility criteria in the Program Administrative Guidelines. Companies seeking funding should directly approach SXVP.
More information about the fund and the fund manager is available below.
Related documents
More information
For more information about the Renewable Energy Capital Fund contact:
Program Manager
Email: revc@ret.gov.au
Phone: (02) 6243 7449.
Southern Cross Renewable Energy Fund
Mr Gareth Dando
Email: investmentteam@sxvp.com
Phone: (02) 8314 7400