Grok Ventures Research
Investment Thesis
Grok Ventures is the private investment vehicle of Mike Cannon-Brookes, co-founder and CEO of Atlassian and one of Australia's most prominent technology entrepreneurs. Founded in 2016, Grok has exclusively focused on climate technology and infrastructure since committing to only investing in solutions that support decarbonisation of the planet and achieving net zero.
The firm's central thesis: technology is the biggest lever available to decarbonise the economy, and seeding and scaling climate tech into climate infrastructure will require trillions of dollars in private capital — representing the biggest economic opportunity of our lifetime. Grok describes this as 'the climate capital stack problem' — the unique funding gap that exists between early venture capital and infrastructure-scale financing.
Grok invests in technology-enabled companies and projects that will decarbonise the planet. Lowering emissions, removing carbon, generating attractive risk-adjusted returns — that is the firm's focus. They back teams in markets they understand: predominantly Australia and New Zealand, Singapore, North America, and Europe.
Investment Strategy and Capital Stack
Grok operates through three distinct investment arms:
Venture — Backs world-class climate founders at early stage. Targets technology-enabled companies solving decarbonisation challenges across energy, food, industrials, agriculture, and mobility. Grok helps founders set commercial and technology milestones that unlock non-dilutive structured funding solutions downstream.
Infrastructure — Provides non-dilutive structured capital (project finance, mezzanine debt) to portfolio companies once they hit defined commercial and technology milestones. This enables founders to scale without excessive dilution — a differentiated capability compared to traditional VCs. The Infrastructure team brings specialist experience in owning and operating renewable infrastructure.
Lighthouse — Strategic positions in large-scale system-change plays. The most prominent example is AGL Energy, Australia's largest energy retailer, where Mike Cannon-Brookes holds board influence and is driving accelerated coal exit and renewable transition.
This integrated capital stack is a key competitive advantage: Grok can support a company through its entire lifecycle from seed to infrastructure finance, with deep expertise at every stage. The firm has deployed more than US$1 billion since 2016.
Stage Focus
For the Venture arm, Grok invests from Seed through Series A and B, typically as an early-stage backer helping founders reach milestones to unlock non-dilutive follow-on capital. Infrastructure investments are structured as project finance or mezzanine instruments rather than equity rounds. Lighthouse positions are strategic and idiosyncratic.
Check Size
Check sizes vary widely across the three arms. For Venture, Grok participates in rounds from approximately $2M to $30M+ (e.g., Rhizocore £3.5M backing; MAKO AU$28M Series A; Fleet Space $50M raise; Loam Bio $105M Series B). For Infrastructure, checks are larger structured instruments. The wide range reflects their flexibility as patient, privately-funded capital.
Lead Tendency
Grok leads selectively and follows strategically. For smaller climate ventures with fewer institutional backers, they often lead or are the primary backer. For larger rounds with established co-investors, they participate alongside others. Their value-add extends beyond capital: deep knowledge of scaling climate technology businesses, infrastructure buildout experience, and Mike Cannon-Brookes' global network.
Recent Activity
In 2026, Grok has been actively investing:
- June 2026: Led investment in MAKO (formerly MicroTau) — AU$28M Series A for Flightfilm, a shark-skin-inspired aviation efficiency coating that cuts fuel drag by over 4% and is now in A320 certification
- May 2026: Portfolio company Antora Energy and POET commissioned the 5 GWh Project Big Stone thermal battery in South Dakota — one of the world's largest thermal energy storage projects
- April 2026: Invested in Via Separations — part of US$36M round for graphene oxide membrane technology to electrify industrial separations (replacing thermal distillation, cutting energy use up to 90%)
In 2025, portfolio milestones included Brighte partnering with Commonwealth Bank to expand home electrification financing, AGL AGM engagement (October 2025), and Singapore's early approval of SunCable's AAPowerLink project (October 2024).
In 2023, Grok launched its refined investment strategy around 'the climate capital stack' and made notable investments in Fleet Space ($50M raise for critical mineral exploration) and Loam Bio ($105M Series B for soil carbon sequestration).
Portfolio Highlights
Grok's portfolio spans the full spectrum of climate technology:
Energy Transition:
- Antora Energy — thermal energy storage for zero-carbon industrial heat and power
- SunCable — mega-scale renewable energy project (Darwin-to-Singapore solar cable, Lighthouse)
- SunDrive — replacing silver with copper in solar photovoltaic cells
- Brighte — home electrification financing across Australia
- WeaveGrid — grid software for EV-utility integration
- Quinbrook — utility-scale renewable energy project developer
- Infradebt — specialist renewable energy project financier
- AGL — Australia's largest energy retailer (Lighthouse position)
- Energy Bay — C&I renewable project and embedded network developer
Industrial Decarbonisation:
- Via Separations — graphene oxide membranes replacing energy-intensive thermal industrial separations
- MAKO — shark-skin-inspired aviation efficiency coating (Flightfilm), AU$28M Series A 2026
- Endolith — copper mining with microbes
- Neara — 3D interactive models for electric utility infrastructure planning
- Gridmo — accelerating grid connections with fast power system studies
- Lydian — sustainable fuels and chemicals from CO2
Food and Agriculture:
- Loam Bio — building stable carbon in agricultural soils
- Vow — cultivated meat directly from animal cells
- Fable Food Co — meaty mushrooms (plant-based meat alternative)
- Asterix Foods — bioactive proteins for food
- Sustenir — vertical farming in hard climates
- Goterra — robotic organic waste management using black soldier flies
- Equilibrium CEF — advanced technology indoor and greenhouse growing facilities
Mobility and Logistics:
- Zoomo — light electric vehicle platform for last-mile logistics
Nature and Carbon Markets:
- Rhizocore — restoring underground forest mycorrhizal networks
- Xpansiv — financial market infrastructure for the energy transition and carbon markets
- Fleet Space — accelerating critical mineral exploration using satellite technology
Sustainable Consumption:
- Who Gives A Crap — direct-to-consumer sustainable personal care and home products
Team
- Casey Taylor, Chief Executive Officer — CEO of Mike Cannon-Brookes' private office; oversees climate investment at Grok Ventures, climate philanthropy at Boundless Earth, and other Cannon-Brookes activities
- Emma Wartski-Coonan, Chief of Staff — Commercial lawyer with 20+ years in energy, climate, and technology; former AGL Group Counsel overseeing solar, batteries, EVs, and wholesale energy markets; Graduate of the Australian Institute of Company Directors
- Ridhaa Ahmed, Head of Infrastructure — Mechatronics degree; former Areva nuclear design and commissioning engineer; post-MBA career in infrastructure, PE, and mezzanine investing at Vantage Capital (including establishing renewable energy funds); based in Sydney, originally from Cape Town
- Scott Milligan, CFA, Investment Team — Former EY-Parthenon PE and corporate strategy team; co-founded a corporate advisory firm serving electricity sector clients; Monash University (Finance, Accounting, Economics); CFA Charterholder; based in Sydney
- Lucie Wilkinson, Investment Team — Former consulting (energy, industrials, mining, PE); former multi-asset fund focused on decarbonisation; leads the venture portfolio at Grok; background in politics before pivoting to markets as the faster path to climate impact
Founding Backer:
- Mike Cannon-Brookes — Co-founder and co-CEO of Atlassian; one of Australia's wealthiest individuals; climate activist; original driving force behind Grok's climate-only mandate (notably made a famous Twitter bet with Elon Musk in 2017 that led to the Hornsdale Battery being delivered in under 100 days)
Decision Process
As a family office, major investment decisions ultimately involve Mike Cannon-Brookes alongside Casey Taylor (CEO). The investment team (Lucie Wilkinson for Venture, Ridhaa Ahmed for Infrastructure, Scott Milligan) sources and diligences opportunities. The private office structure — no LP reporting obligations, no traditional investment committee — enables faster and more flexible decision-making than traditional institutional VCs.
Founder Preferences
Grok is explicitly looking for founders who 'think about problems differently.' They particularly value:
- Founders solving hard, unsexy industrial decarbonisation problems
- Solutions that generate cost savings AND emissions reductions simultaneously (dual benefit)
- Teams building modular, deployable technology ready for retrofitting into existing industrial systems
- Founders willing to think about the full capital stack (venture to infrastructure to Lighthouse)
- Global founders are welcome — not limited to Australia
Founders can reach out directly at [email protected] with a pitch deck — warm introductions are not required.
Geographic Focus
Primarily Australia and New Zealand, with active investments in Singapore, North America, and Europe. The team is based in Sydney, Australia.
AUM and Fund Context
Grok has deployed more than US$1 billion into climate technology and infrastructure since 2016. As of 2021, the firm represented approximately A$2 billion in committed personal capital from the Cannon-Brookes family. As Mike Cannon-Brookes' personal investment vehicle, the capital base scales with his personal wealth, which is primarily derived from Atlassian's market capitalisation. Grok is not a traditional LP-funded venture fund — it is a family office with permanent, patient capital.