Startup · $603m raised
Every published round HMC Capital 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 |
|---|---|---|---|---|---|---|
| Green Gravity | Series A | 15 Oct 2024 | $9m | Participant | RenewEconomy, Startup Daily | |
| Green Gravity | Unnamed stage | Oct 2024 | $9m | Participant | RenewEconomy (22 Sep 2025), @AuManufacturing, RenewEconomy (29 Oct 2024) |
Companies HMC Capital has backed in a published round, and companies whose existing shares it bought off another holder.
| Company | What it does | First invested | Rounds | Led |
|---|---|---|---|---|
| Green Gravity | Australian start-up using super-heavy weights in legacy mine shafts for gravitational ene… | Oct 2024 | 2 | 0 |
Fund closes reported for HMC Capital, as distinct from the investments it has made.
Companies HMC Capital has backed that another company then bought. An exit for the holding, not a deal HMC Capital did.
| Company | Bought by | Kind | Announced | Price |
|---|---|---|---|---|
| No portfolio company of HMC Capital is recorded as having been acquired. | ||||
Companies HMC Capital acquired or merged with, per published coverage. Buying a company is not investing in one: nothing here counts in the deals column.
| Company | Kind | Announced | Price | Sources |
|---|---|---|---|---|
| Stor-Energy | Acquisition | 2024 | - | RenewEconomy (30 Jun 2026), RenewEconomy (30 Jun 2026), RenewEconomy (9 Feb 2026), RenewEconomy (9 Feb 2026) |
| Neoen | Acquisition | 2024 | $950m | RenewEconomy (30 Jun 2026), RenewEconomy (9 Feb 2026) |
Every investor coverage indicates participated in a round HMC Capital raised.
| Name | Role | Sources |
|---|---|---|
| David Di Pilla | Managing Director and CEO · Founder | RenewEconomy (9 Feb 2026), RenewEconomy (9 Feb 2026), RenewEconomy (9 Jul 2024) |
| Gerard Dover | Executive | RenewEconomy (9 Feb 2026), RenewEconomy (9 Feb 2026) |
| Julia Gillard | Chair | RenewEconomy (30 Jun 2026), RenewEconomy (30 Jun 2026), RenewEconomy (9 Jul 2024) |
Stories naming HMC Capital. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
The CEFC recounts a decade of project financing behind Australia's landmark grid batteries — DeGrussa, Hornsdale, Victorian Big Battery and Capital Battery — showing how early public capital helped storage reach mainstream markets.
KKR will invest up to $603 million in HMC Capital's energy transition arm, funding its first big battery, after HMC bought Neoen's Victorian assets and battery developer Stor-Energy.
Also RenewEconomy
HMC Capital has landed KKR backing of up to $603 million for its new energy platform, unlocking its first grid battery and a multi-gigawatt project pipeline.
Wollongong energy storage venture Green Gravity has secured $9 million from HMC Capital, BlueScopeX, Pacific Channel and SCAP H to advance testing of its system that repurposes disused mineshafts for gravitational energy storage.
Also RenewEconomy
HMC Capital's Energy Transition platform, chaired by Julia Gillard, is investing about $50 million for a controlling stake in Sydney battery storage developer Stor-Energy, its first platform investment.