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Investments

1

Portfolio Exits

1

About Minderoo Group

Minderoo Group is an investment group with a diverse portfolio of assets across multiple sectors including property, agrifood, natural resources and energy.

Minderoo Group Headquarter Location

PO Box 3155, Broadway

Nedlands, Western Australia, 6009,

Australia

+61 8 6460 4949

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Latest Minderoo Group News

WA billionaires to transform neglected East Perth power station into 'eastern gateway to the CBD'

Apr 18, 2020

Very large text size The state government has struck a deal with two of Australia's wealthiest families to transform the neglected East Perth Power Station into the 'eastern gateway of the CBD'. On Saturday, the McGowan government announced Kerry Stokes' Australian Capital Equity and Andrew Forrest's Minderoo Group had been chosen as the preferred joint proponent for the works, which will see a $218 million facelift of the century-old industrial landmark. Artist's impression of the East Perth Power Station redevelopment. The first stage of the works will involve the construction of a mix of residential, commercial and recreational developments by the shores of the Swan River. Artist's impressions released by the state government show a combination of retail and dining options in an industrial warehouse space, and a landscaped waterfront with boat access. Advertisement Named Koomba Kalark, which translates to 'place of the big fire' in Noongar, the project hopes to celebrate the heritage of the 103-year-old power station, which ceased operating in 1981. WA Lands Minister Ben Wyatt said Australian Capital Equity and Minderoo Group would enter an exclusive working period with Development WA to refine the details of the proposal. "Close to four decades after ceasing operations, the old East Perth Power Station is set to once again play an important role in our city as the heart of a thriving, modern, master-planned waterfront precinct," he said. "The mix of residential, social and tourism opportunities this project is expected to offer will support local jobs and transform the area into the CBD’s eastern gateway." Plans hope to transform the neglected site into a waterfront precinct. Following the success of the developments of Elizabeth Quay and Yagan Square, East Perth has long been destined to be next in line, with plans for the revitalisation of the power station stretching back to 2015. Expressions of interest to develop the site were called for by the Metropolitan Redevelopment Authority in 2015, and five applicants were shortlisted, but the need to relocate the existing switchyard put the project on hold. Three years later, in 2018, an international art foundation approached Australian multinational architecture firm Hassell to find a location for a new cultural building. Hassell proposed a contemporary gallery at the East Perth site, connecting with the old power station at its northern end to maintain the station's historic riverfront presence, and released artists’ impressions of what such a building might look like. The plan was discussed for a year but the funding did not eventuate. The project was brought back to life in February last year, after Federal Member for Perth Patrick Gorman surveyed constituents on what they thought Perth needed to become a world-class city. More than 300 Perth residents responded and the most popular option was the redevelopment of the East Perth Power Station site, a proposal more than 86 per cent of respondents supported. Three months later, the McGowan government announced they would sink $30 million dollars into site works at the East Perth Power Station to prepare the landmark for redevelopment.

Minderoo Group Investments

1 Investments

Minderoo Group has made 1 investments. Their latest investment was in Swoop as part of their Unattributed VC on March 3, 2020.

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Minderoo Group Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

3/6/2020

Unattributed VC

Swoop

Yes

1

Date

3/6/2020

Round

Unattributed VC

Company

Swoop

Amount

New?

Yes

Co-Investors

Sources

1

Minderoo Group Portfolio Exits

1 Portfolio Exit

Minderoo Group has 1 portfolio exit. Their latest portfolio exit was Swoop on February 18, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

2/18/2021

Reverse Merger

1

Date

2/18/2021

Exit

Reverse Merger

Companies

Valuation

Acquirer

Sources

1

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