Softbank China Venture Capital, a corporate venturing affiliate of Japan-based internet conglomerate Softbank, has committed A$100m ($100m) to a renewable energy fund investing in Australia.
Independent firm Southern Cross Venture Partners will manage the 13-year Southern Cross Renewable Energy Fund, in which the Australian government is also committing A$100m.
SXVP and SBCVC have also collaborated on the A$40m Southern Cross IIF Fund, under the Australian Government’s Innovation Investment Fund program, administered by AusIndustry, which invests in a broad range of technologies and sectors outside of Renewable Energy.