Investment

Newly set up impact-focused family office co-invests with other investment offices in a carbon credit platform

Together with more than 30 investors, a recently founded family office has invested in an innovative carbon credit platform designed to monitor better carbon capture for corporations buying credits. 

Wollemi Capital, set up in 2021 by Robyn Denholm, a prominent Australian finance director who made most of her $600 million-plus fortune owning stock in Tesla. She is also chair of the electric vehicle group, taking over the position from Elon Musk in November 2018. 

Named after a rare pine tree found in an area west of Sydney (pictured above), Wollemi Capital invested alongside the likes of Chamath Palihapitiya’s Social Capital, Bill Gates’ backed Breakthrough Energy Ventures, and the Arnault family venture group Aglaé Ventures in San Francisco-based Pachama.

Pachama says on its website that it “combines machine learning with satellite and airborne observations to measure carbon captured in forests. We are developing our technology to enable scalable and more trustworthy remote monitoring and verification, setting a new standard of quality and transparency for carbon forest offsets.” 

Other investors in the Series B round worth $55 million include family offices Zinal Growth and Serena Ventures, and Portia de Rossi and her partner Ellen DeGeneres, Seth Goldman, the chair of Beyond Meat and tech billionaire Ram Shriram, likely through his investment group Sherpalo Ventures. 

Expect other interesting deals in the future from Wollemi. The Sydney-based family office has hired one of the sharpest investment bankers in Australia to drive its efforts in the impact sector – Tim Bishop. He used to be head of global head of Macquarie Capital before leaving to help set up Wollemi. 

 

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