Viridios Capital

Viridios announces $55m capital raise led by Roc Partners as it eyes more global sustainable investments
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Viridios Group, a sustainable finance and technology company, completes series B funding round to continue its investment in innovative solutions to combat climate change and grow its carbon data and analytics platform  

  • Viridios raises $55 million led by Roc Partners as demand for high quality carbon credits grows with the world continuing its push to decarbonise.     
  • Viridios runs a global carbon credit origination, capital markets and asset management business focused on the growing Voluntary Carbon Market (VCM), with a unique SaaS carbon credit data and analytics platform. 
  • Viridios Capital has financed a suite of innovative, high quality and nature-based carbon projects to avoid and remove over 45 mt of carbon over the next 10 years.
  • VT Carbon Fund is focused on investing in high impact sustainable investments and has delivered strong returns to investors since inception in August 2021.   
  • Viridios AI (VAI) has aggregated information on more than 6,900 carbon credit projects globally with subscribers also able to access post-trade data, Standards, SDGs and ratings for high demand credits. 
  • The capital raised will enable Viridios to fund strategic growth initiatives across the business including investing in more innovative carbon credit projects and continuing the global roll out of its SaaS platform.
  • Roc Partners will take a Board seat, consistent with its minority equity position.

Sydney, Australia – October 27, 2022 – Viridios Group (Viridios) has successfully completed its series B capital raise with Roc Capital Pty Ltd (Roc Partners) leading the $55m investment, which will fund strategic growth initiatives including its investment in nature-based carbon credit projects and the roll out of its VAI carbon credit data and analytics SaaS platform.

Viridios is a global sustainable finance and technology business with operations across carbon credit origination, capital markets, asset management and data and analytics, which was founded in 2019 by financial markets banking veterans Eddie Listorti, Geoff Clear and Marcelo Labre. The company now has 50 staff across Australia, Europe, the U.K. and the U.S.

As the world continues its push to decarbonise and organisations seek to achieve their net-zero commitments, Viridios’ business model is designed to enhance pricing transparency and assist in growing the VCM.

“We’re delighted Roc Partners is joining us as we work to deliver on our sustainable finance vision. We believe it is critical that we continue to mobilise capital to offset emissions, decarbonise industry and improve carbon credit transparency, quality and confidence,” says Viridios Group CEO, Eddie Listorti. 

“Climate change is one of the greatest challenges the modern world has faced and transparent carbon markets will play a vital role in ensuring we rise to it. With the support of our investors, we’ll continue to mobilise positive action towards net-zero by improving transparency and liquidity in the VCM to ensure the effective allocation of capital in high impact carbon reduction projects.” 

“The VCM is approaching a point of inflection and, with the benefit of the incoming capital, we will be able to extend our product offering across capital markets, asset management and data to a wider range of market participants,” Listorti says.

Michael Lukin, Partner at Roc Partners, said “Our investment recognises our commitment to sustainable and responsible investment and to being an active participant in the decarbonisation of the global economy. We are impressed by the strength and depth of the Viridios team and are excited to support them in continuing to accelerate their growth”.

Since inception, Viridios Capital has financed a suite of innovative, high quality and nature-based carbon projects around the globe including equity investments in companies like Carbon Wave, which was recently chosen as a Top Innovator by the World Economic Forum.

 

“From originating nature-based solutions in Australia and funding projects to treat seaweed sargassum off the coast in Mexico to restoring mangroves in Mozambique, we’re determined to allocate capital to high quality nature-based projects that have a real and measurable impact on climate change and biodiversity” Listorti says.

Through our collaboration with Tribeca Investment Partners on the VT Carbon Fund, we remain focused on investing in nature-based assets that deliver significant returns for investors, local communities and the planet. Since its inception last year, the fund has delivered strong double-digit returns.

“When we established Viridios, we knew that price transparency and analytics would be key to attracting capital to an emerging asset class such as carbon. In line with this, we pulled together a world leading team of data scientists and analysts to help surface the carbon credit pricing, valuation and project data the market needs to make informed investment decisions,” says Listorti.

To date, Viridios AI has aggregated information on more than 6,900 carbon credit projects globally with subscribers also able to access post-trade price data, standards, sustainable development goals (SDGs) and ratings for a broad range of carbon credits. Viridios also partners with S&P Global Commodity Insights to deliver the Platts Viridios CARBEX, which provides six indices reflecting the value of different types of voluntary carbon credits. 

Former Goldman Sachs and Deutsche Bank executive, James McMurdo of Privatus Capital Partners, managed the Series B capital raise and participated in the funding round. Privatus will also be taking a Board seat.

The successful capital raise comes after Viridios Group dominated this year’s Voluntary Carbon Market Rankings, taking out Best Market Innovation for Viridios AI. Viridios Capital also came runner up in five categories including: Best Advisory/Consultancy, Best Project Developer (Overall), Best Trading Company, Best Corporate Offsetting Programme; and Best Initiative. 

Viridios was advised by Privatus Capital Partners and Corrs Chambers Westgarth, while Roc Partners was advised by EY and Talbot Sayer.

For further information on Viridios, visit: viridioscapital.com, https://vtcarbon.com/ and viridios.ai.

 

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Contacts

Viridios Group: Tom Godfrey | [email protected] | +61(0)419 313 101 

Roc Partners: Michael Lukin | [email protected] | +612 9099 1900

 

About Viridios Group

Viridios Group is a global carbon credit origination, capital markets and asset management business focused on the growing Voluntary Carbon Market (VCM), with a unique carbon credit SaaS pricing, valuation and project data platform. Its mission is to mobilise positive action towards net-zero and improve transparency in the voluntary carbon markets to ensure the effective allocation of capital in carbon reduction projects. 

About Roc Partners

Roc Partners is one of the largest and most experienced alternative investment managers in the Asia Pacific region with more than A$9.9b FUM. Roc Partners was established as an independent, alternative investment management firm following the management buy-out of Macquarie Group’s private markets business unit by its senior executives in June 2014. Prior to this, the business had been in continuous operation since 1996. Roc specialises in private equity investments in the Asia Pacific region and is headquartered in Sydney with ~60 staff located across Sydney, Melbourne, and Hong Kong offices.