Investible (Climate Tech Fund)

Investible spent its first seven years as a generalist, writing some of the earliest cheques into Australian names like Canva. Then in 2021 it did something it had never done before and raised a fund with a single theme. The Climate Tech Fund was Investible's first sector-focused vehicle, launched with a A$100 million target to back pre-seed and seed founders across the six areas the UN counts as the heavy lifters of decarbonisation, from energy and transport to food and the built environment.

Investible never set out to be a water fund, and it would not call itself one. But when I track where its climate money actually lands in my Leviathan database, two of its companies sit right on top of the water problem. Bygen makes activated carbon, the black sponge-like material that scrubs contaminants out of drinking water, except Bygen bakes it from leftover agricultural waste instead of coal. Xefco works the other end of the pipe, stripping water and chemicals out of textile dyeing, which is one of the thirstiest and dirtiest steps in the whole fashion supply chain.

Investible's climate bets are run day to day by Ben Lindsay, named Climate Salad's investor of the year in 2024, and the fund leans on an investment committee that includes Darian McBain, a former chief sustainability officer at the Monetary Authority of Singapore who has spent her career on oceans, supply chains and the blue economy. That is real water credibility for a firm that never markets itself as a water investor.

Across its water deals Investible plays the same hand: it comes in early and co-invests alongside government-backed funds like Victoria's state vehicle and the Clean Energy Finance Corporation, rather than leading the round itself. For a newcomer trying to place this fund, that is the useful frame. Investible is a climate generalist whose net is wide enough that water keeps falling into it, which makes it a name worth watching as the climate and water worlds keep converging.