The Aurus III copper venture fund

The Aurus III copper venture fund

The copper centric Aurus III Copper Venture Fund 1 was established in Santiago, Chile in 2013 to fund start-ups and new tech companies focused on the development of technologies that would benefit the copper industry in upstream processes, competitiveness and sustainability.

The US$65m fund (which includes approximately $40m contribution from the Chilean Government) aims to provide the bridge between ideas and the implementation of those ideas in partnerships aligned to the challenges faced by mining companies.

The primary qualifications for start-ups and ventures that seek funding include:

  • finding new applications and uses for copper that will help sustain demand and hence copper mining,

  • the development of important services and supplies for copper mining operations, and

  • innovative solutions that will improve processes, sustainability, and competitiveness in the industry

The ICA participates in the activities of the fund via the initial fund creation and capital raising, participation in the investment committee, providing connections, and the support of due diligence activities.