Hall & Wilcox advises on establishment of Australia’s first climate-focused growth private equity fund

Hall & Wilcox has advised Kilara Capital on the establishment of the $34 million Kilara Growth Fund, which is Australia’s first climate-focused growth private equity fund. It focuses on investing in small to medium-sized companies that target climate outcomes and outsized commercial returns.

Hall & Wilcox helped Kilara establish the:

• Kilara Growth Fund LP as a Venture Capital Limited Partnership (VCLP), including unconditional registration with the Department of Industry, Science, Energy and Resources;
• Kilara Growth Feeder Fund, which acts as a wholesale feeder fund for the VCLP;
• Kilara VCMP as the Venture Capital Management Partnership that is the investment manager of the VCLP; and
• Kilara Sponsor Trust, which distributes the performance fees to those involved in managing the fund.

In addition, Hall & Wilcox assisted with the preparation of the information memorandum for each of the VCLP and feeder fund, the intermediary and corporate authorised representative agreement and services agreement.

The Hall & Wilcox team comprised partners John Bassilios, Harry New and Ed Paton.

Hall & Wilcox also undertook the corporate work for the VCLP’s two initial investments, in Grounded and Wattwatchers. Grounded is a digital platform enabling Small Medium Enterprises (SMEs) to simply and cheaply transition single use soft plastic packaging to a range of sustainable alternatives. Wattwatchers is a digital energy platform, enabling consumers and industry to maximise the benefits of renewable energy through energy data and control.

John Bassilios said, ‘Given the current discussion about, and focus on, ESG, it was particularly satisfying working with Kilara Capital on this impact investment fund. To be able to work with Kilara, given its objective is to create investment opportunities and sustainable infrastructure solutions on the path towards a zero carbon future, was very rewarding.

‘It was also gratifying to be able to seamlessly assist Kilara with the Funds’ two initial investments in Grounded and Wattwatchers with our corporate team, which is a testament to our cross-practice expertise in the private equity market.’

Founded in 2017, Kilara is an innovative deal originator and investment manager. It is focused on investing in the food industry supply chain, energy and carbon markets and natural resource management sectors, together with the development of infrastructure solutions for these sectors in Australia.

Hall & Wilcox is a leading independent law firm of more than 950 people, including over 110 partners. We service corporate, public sector and private clients, both Australian-based and those offshore doing business in Australia.