Bringing Patient Capital to
the Technologies, Projects and Companies Creating a
Sustainable World
Sunrise in Bunurung Country
PATIENT CAPITAL FOR THE CLEAN ECONOMY
As patient, strategic and active partners to our portfolio companies we invest in a structured portfolio across the full commercialisation life cycle; from start-up to mature businesses to bridge the "missing middle" of investment in the clean economy transition.
OUR MISSION
Bridging the missing middle between proven innovation and its deployment at scale.
Australia is a world leader in innovation and is deeply committed to supporting early stage innovation. But in the clean economy there is often a long and capital intensive gap between early stage, proven technology and its deployment at utility scale.
This gap is best described as the Missing Middle of transition finance.
This is where many promising solutions stall—not because they lack merit, but because they do not fit existing investment structures which were designed for different times.
Australia funds research, pilots and early demonstrations very well, through both private and public means, and it attracts capital once projects are fully de-risked and utility-scale. What remains largely unaddressed is the long, capital-intensive growth phase in between: where technologies have been proven, but business models, supply chains and deployment pathways are not yet mature enough for conventional project finance or infrastructure mandates.
This challenge is particularly pronounced in the three priority sectors for our New Industries Fund of Energy, Water and Waste.
We are determined to ensure that important innovations for the clean economy transition are not held back simply because the existing finance models do not suit their needs for patient, knowledgeable capital.
THE NEW INDUSTRIES FUND
Australia's First Whole-of-Lifecycle Sustainability Fund Investing in Energy, Water and Waste bridging the Funding Gap between Early Stage Innovation and its Deployment at Scale
In 2025 we launched our $150m AxleTree Capital New Industries Fund (NIF). The New Industries Fund invests in growth stage companies in Australia and Aotearoa New Zealand that are making a significant contribution to sustainability across the themes of water, waste and energy in four priority sectors.
The New Industries Fund invests in a structured portfolio across the full commercialisation life cycle; from start-up to mature businesses developing projects, technologies and services which positively contribute to a sustainable global society and environment, referencing in particular the United Nations 2030 Agenda for Sustainable Development and its Sustainable Development Goals (SDG)
OUR APPROACH
Through our lifecycle approach to investment and alignment with Global Megatrends, we offer institutional investors
opportunities to:
Access a broader range of opportunities to invest at scale in the sustainability thematic
Value and diversification benefits available to patient investors in unlisted growth assets
Reduce costs
by avoiding unnecessary portfolio churn, matching fund structure to strategy
INVESTMENT FOCUS
The core focus of the New Industries Fund is the trinity of
Energy, Water and Waste
Decarbonisation & The Energy Transition
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Energy Generation
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Efficient transmission, distribution and storage
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Energy management systems
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Energy recovery
Climate Resilience & Water
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Potable water and sewage treatment
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Desalination
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Efficient use in manufacturing & agriculture
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Quality of ground water & surface water in the environment
Waste & Circularity
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Minimisation & Waste Prevention
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Recycling
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Waste-to-Energy
PRIORITY INDUSTRIES
The four priority industries of the New Industries Fund are among the Worlds' major greenhouse gas contributors and are the most complex and urgent to decarbonise. They are also some of the most economically essential industries.
Agriculture - Food & Fibre
Advanced Manufacturing & Resources
Construction & Built Environment
Transport
Image: Wurundjery Country
AxleTree Capital acknowledges and pays respect to the past and present Traditional Custodians of this land and the continuation of cultural, spiritual, and educational practices of Aboriginal and Torres Strait Islander peoples as the longest continuing living culture on Earth. Axletree Capital supports the Uluru Statement from the Heart; and seeks to embody its spirit and the realisation of the Traditional Custodians’ expectations in our corporate actions.
