Venture capital fund · 7 deals
Impact investment office backing climate and nature solutions
Sydney, NSW
Every published round Understorey Ventures 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.
Companies Understorey Ventures has backed in a published round, and companies whose existing shares it bought off another holder.
| Company | What it does | First invested | Rounds | Led |
|---|---|---|---|---|
| MGA Thermal | Developer of Miscibility Gaps Alloy blocks for industrial thermal energy storage | Sep 2023, Bridge / extension | 4 | 0 |
| HydGene Renewables | 27 Jun 2023, Seed | 1 | 0 | |
| Good Heat | Good Heat uses large-scale thermal energy storage systems powered by renewable electricit… | 16 Oct 2025 | 1 | 1 |
| FLINTpro | climate and agtech startup | 25 May 2023, Series A | 1 | 1 |
Companies Understorey Ventures's own portfolio page lists that no published round yet places it in. The page is the source; the round is being looked for.
| Company | Site |
|---|---|
| Aigen | aigen.io ↗ |
| Airform | airform.space ↗ |
| Atoneventures | atoneventures.com ↗ |
| Azollaventures | azollaventures.com ↗ |
| Burnbot | burnbot.com ↗ |
| Cambiumcarbon | cambiumcarbon.com ↗ |
| Cosmicaerospace | cosmicaerospace.com ↗ |
| Foraybio | foraybio.com ↗ |
| Funga | funga.earth ↗ |
| Futuresuper | futuresuper.com.au ↗ |
| Goodheat | goodheat.energy ↗ |
| Goterra | goterra.au ↗ |
| Justclimate | justclimate.com ↗ |
| Mgathermal | mgathermal.com ↗ |
| Naturehelm | naturehelm.com ↗ |
| Paleblue | paleblue.vc ↗ |
| Phytoformlabs | phytoformlabs.com ↗ |
| Planeteercapital | planeteercapital.com ↗ |
| Raaise | raaise.co ↗ |
| Regen | regen.vc ↗ |
| Rubi | rubi.earth ↗ |
| Seaforest | seaforest.com.au ↗ |
| Spectoolbox | spectoolbox.com ↗ |
| Streetlifeventures | streetlifeventures.com ↗ |
| Superorganism | superorganism.com ↗ |
| Swaythefuture | swaythefuture.com ↗ |
| Vitalitycapitalpartners | vitalitycapitalpartners.com.au ↗ |
Fund closes reported for Understorey Ventures, as distinct from the investments it has made.
Companies Understorey Ventures has backed that another company then bought. An exit for the holding, not a deal Understorey Ventures did.
| Name | Role | Sources |
|---|---|---|
| Jordan Soriot | Director | Startup Daily (17 Oct 2025), Startup Daily (23 May 2023) |
| Pascal Soriot | Founder | Startup Daily, SmartCompany |
Stories naming Understorey Ventures. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
MGA Thermal, a Hunter Valley energy storage maker, has banked $17 million from IP Group and others to commercialise its heat-storage technology, lifting its total funding to $50 million.
Good Heat announces a $2 million pre-seed round from four backers to fund its thermal storage platform, which sells electrified industrial heat as a service, starting with a large Victorian manufacturing project.
Sydney heat-battery startup Good Heat has raised over $2 million, led by Understorey Ventures with Investible and 2100VC, to replace gas-fired industrial heat with renewable-powered thermal storage, starting in Victoria.
Future Group has acquired Verve Super, a super fund aimed at women, with terms undisclosed; the piece also recalls earlier raises by Verve and by Future Super.
Weekly roundup reporting eight Australian startups together raised $85.6 million across mining tech, cybersecurity, waste, energy storage, health and micromobility, plus a Google.org grant for Global Sisters.
Weekly roundup of six Australian startup raises: Lyka's Series B extension, plus new funding for HydGene, JDoodle, One Future Football, Aquila and Number 8 Bio, with investors and founder comment.
Also RenewEconomy·Startup Daily·SmartCompany·Startup Daily·SmartCompany·RenewEconomy·RenewEconomy
Weekly agrifoodtech roundup reporting funding rounds for Pluton Biosciences, FLINTpro, eFishery and others, a first close by Big Idea Ventures' fund, Wicked Kitchen's acquisition of Current Foods, plus partnerships and launches.
Also AgFunderNews·AgFunderNews
Weekly roundup of seven Australian and New Zealand startup raises, headlined by a previously unreported $32 million seed for banking software venture Constantinople, plus new rounds for six other companies.
Also Startup Daily·Startup Daily·Techboard·Startup Daily·Startup Daily·Startup Daily·SmartCompany·SmartCompany·SmartCompany·AgFunderNews·Startup News (WA)·Forbes Australia·AgFunderNews