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Assets & Technologies

Overview
 

Basic Industries Venture Fund I LP.

Investment Year

2022

Sector

Mining Technology

HQ

Australia

Status

Pending

The Company

BIVF is a newly-formed limited partnership governed by the laws of New South Wales, Australia. BIVF is a newly-formed venture capital fund that will be focused on investments in industrial technologies for heavy industries. The manager and general partner of BIVF are affiliates of RFC Ambrian Group Limited (“RFC Ambrian”), an Australian corporation that is an experienced institutional investor and adviser in the resources, energy and basic industries.

The Partnership

The Partnership The Company has entered into a subscription agreement with BIVF to make up to AUS$10 million in capital contributions to BIVF in exchange for a limited partnership interest in BIVF. The Company’s obligation to make capital contributions pursuant to the subscription agreement is subject to the Company’s funding obligations will be limited to AUS$2 million until such time as the Company completes, one or more equity financing transactions for gross proceeds of at least CAD$20 million.

In connection with its investment in the BIVF, CoTec has also entered into an agreement with RFC Ambrian where CoTec will have certain co-investment rights with respect to investments by RFC Ambrian in projects that utilize technologies in which the Fund has invested.

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