Viridios announces $55m capital raise led by Roc Partners

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 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 including 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 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”.

“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 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 AI, visit: viridios.ai.

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Contacts

Viridios Group: Tom Godfrey | tom@viridios.a | +61(0)419 313 101 

Roc Partners: Michael Lukin | info@rocp.com | +612 9099 1900

Viridios AI (www.viridios.ai), a Viridios Group company, is committed to improving the value discovery around carbon projects to allow capital to flow more freely into the complex carbon markets as the world seeks to meet its climate and net-zero targets. Its mission is to bring robust valuation methodology and instruments found in all other commodity markets, to this critical asset class and to help clients future-proof their carbon offset strategies. The VAI platform provides access to Viridios AI’s market-leading modules, Valuation Risk Engine (VRE) and PRICES, providing subscribers with a full suite of carbon market intelligence on a single dashboard.

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.