IP Group launches Australian cleantech fund with clean energy body

IP Group PLC (LSE:IPO), the LSE-listed science and technology investor, has launched a new fund with Australia's Clean Energy Finance Corporation (CEFC) to back cleantech companies targeting hard-to-abate industries. The IP Group Climate Catalyst Fund has a target size of up to A$150 million, with IP Group contributing A$30 million and the CEFC A$20 million as cornerstone investors at first close.