Understorey (Understorey Ventures) is a private impact investment firm based in Sydney, Australia that invests in critical solutions needed to restore planetary health, backing visionary companies tackling the climate and nature crisis across private equity, private debt, and agriculture.
62% of their portfolio is in Climate & Energy. They made 4 investments in the last 12 months. Their most common stage is seed (62% of deals). Average disclosed round size is $7.0M (across 10 rounds with reported amounts).
Portfolio
12
Fund Size
—
Top Stage
Seed
Last 12 Mo
4
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
13 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Transition Metal Solutions | Seed | $6M | Jan 2026 |
 Transition Metal Solutions | Seed | $6M | Jan 2026 |
 Transition Metal Solutions | Seed | $6M | Jan 2026 |
 Good Heat | Pre-Seed | $2M | Oct 2025 |
 SPEC Toolbox | Bridge | $3M | Jan 2024 |
 FLINTpro | Series A | $9M | Jan 2023 |
 HydGene Renewables | Seed | — | Jan 2023 |
 MGA Thermal | Seed | — | Aug 2021 |
 Dendra Systems | Series B | $15.8M | Sep 2020 |
| DDendra | Series B | $15.8M | Sep 2020 |
| FLINTpro | Seed | — | Jan 2018 |
 Foray Bioscience | Seed | $3M | — |
 Foray | Seed | $3M | — |
Top Co-Investors
New Climate Ventures3 shared
Essential Capital3 shared
SOSV3 shared
Dolby Family Ventures3 shared
Astor Management AG3 shared
Possible Ventures3 shared
Juniper VC3 shared
Superorganism2 shared
Engine Ventures2 shared
ReGen Ventures2 shared
Service Provider Capital2 shared
Airbus Ventures2 shared
Saudi Aramco2 shared
Systemiq Capital2 shared
Helium-3 Ventures2 shared
Lowercarbon Capital2 shared
Future Positive Capital2 shared
Zouk Capital2 shared
Investible2 shared
Last updated: 20 October 2026