A new venture capital fund with heavy-hitting corporate partners and focused on backing climate tech startups at Series A has secured $50 million in commitments to reach its first close.
Climate Tech Partners (CTP), founded in 2023 by Patrick Sieb and Tom Kline (who established Investible’s climate tech fund), more than doubled its size thanks to $15 million each from Australian Ethical Investments (AEI) and the federal government’s Clean Energy Finance Corporation (CEFC).
Earlier this year Qantas and European plane manufacturer Airbus jointly committed $15 million to CTP to invest in aviation decarbonisation solutions such as sustainable aviation fuel.
CTP’s priorities, shaped by a range of corporate partners, will see it invest in sectors including energy and power, transport and logistics, and industry and resources, deploying capital in collaboration with corporate partners who are likely to be the end users of the technologies.
CTP 11 corporate partners across its core focus sectors of energy, transport, industrials, and mining.
Billionaire Daniel Besen’s family office is an anchor investor in CTP’s debut fund.
Kline said the return of the Albanese government at the federal election delivered policy certainty for the cleantech sector, giving investors and founders greater confidence .
“The Australian Government is committed to long-term climate ambition, which sends a powerful signal to innovators and investors alike,” he said.
“This is a once-in-a-generation chance for Australia to lead in climate solutions – and we’re proud to be driving it, backed by family offices, super funds, and government with corporate partners to derisk and accelerate our investments.”
The CEFC’s head of growth capital, Malcolm Thornton, said their investment supports the advancement of technology essential to Australia’s climate transition – including rapid prototyping, manufacturing, and exposure to market competition.
“The climate tech space in Australia is vibrant, and this is an important time to back innovative companies making breakthroughs in critical technologies,” he said.
In January this year, the federal government announced an additional $2 billion in funding for the $32 billion CEFC, which has also been a key investor in a $200 million climate tech fund being build by Virescent Ventures. The CEFC has also backed several startups directly, including $40 million for rideshare rental scaleup Splend and $200 million more foc Mike Cannon-Brookes-backed renewables finance firm Infradebt
CTP cofounder Patrick Sieb a wave of breakthroughs in climate tech, including electrification, sustainable fuels and next-gen grids, are gaining real traction
“With tech readiness, corporate demand, and policy aligning, it’s a powerful moment to invest. Even in the US, bipartisan backing for energy security and sustainable fuels shows just how durable this opportunity is,” he said.
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