Venture capital fund · 2 deals
Sydney, NSW
Every published round Providence Asset Group took part in, and every parcel of existing shares it bought off another holder. Deals we hold but haven't published yet are not counted.
| Company | Stage | Announced | Amount | Role | Alongside | Sources |
|---|---|---|---|---|---|---|
| Evergen | Series B | 22 Jun 2022 | $15m | Participant | Techboard, hamiltonlocke.com.au, solarinsider.com.au, esdnews.com.au, evergen.energy, frv.com, pv-tech.org, RenewEconomy | |
| Evergen | Unnamed stage | 6 Oct 2020 | $3m | Participant | RenewEconomy (Wed 22 Jun 2022), RenewEconomy (Wed 7 Oct 2020), RenewEconomy (Tue 6 Oct 2020) |
Companies Providence Asset Group has backed in a published round, and companies whose existing shares it bought off another holder.
| Company | What it does | First invested | Rounds | Led |
|---|---|---|---|---|
| Evergen | 6 Oct 2020 | 2 | 0 |
Fund closes reported for Providence Asset Group, as distinct from the investments it has made.
Companies Providence Asset Group has backed that another company then bought. An exit for the holding, not a deal Providence Asset Group did.
| Name | Role | Sources |
|---|---|---|
| Alan Yu | Founder | RenewEconomy (Wed 7 Oct 2020), RenewEconomy (Tue 6 Oct 2020) |
Stories naming Providence Asset Group. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
Profile of hydrogen storage maker Lavo: $65 million in pre-orders, utility-scale orders exceeding a billion dollars, grants and investor backing, with regulation and certification named as its biggest hurdles.
Energy software firm Evergen has closed a $15 million round led by FRV-X to grow its solar and battery optimisation platforms, crediting the new federal government with restoring investor confidence in Australian clean tech.
Also pv-tech.org·frv.com·evergen.energy·esdnews.com.au·Techboard·solarinsider.com.au·hamiltonlocke.com.au
GHD Group is set to take a cornerstone stake in hydrogen storage maker Lavo as part of its Series A raise in progress; GHD's finance chief will also join Lavo's board.
Listed investor Gowing Bros has taken an equity stake in hydrogen storage maker Lavo and ordered over 200 of its units for its properties; Providence Asset Group was an earlier backer.
Also RenewEconomy
Providence Asset Group has bought a $3 million stake in energy software firm Evergen, joining AMP Capital and Artesian as leading shareholders; co-founder Alan Yu joins the board and further investment is planned.
Also RenewEconomy·RenewEconomy
H2Store, working with UNSW, has received $3.5 million from Providence Asset Group to develop hydrogen storage, including a home solar storage prototype targeted for late 2020.