Deal: G+T Ventures, Gilbert + Tobin’s ventures practice, has advised Australian biotech company Loam Bio on its US$73 million Series B funding round, which was co-led by Lowercarbon Capital and Wollemi Capital and supported by existing investors Horizons Ventures, Main Sequence, Acre Venture Partners, Clean Energy Finance Corporation, Grok Ventures and others.

The funds raised will be used, the firm said in a statement, to expand the availability of Loam Bio’s seed coating that supercharges plants’ ability to store carbon in the soil.

Area: Venture capital

Value: $105 million (US$73 million)

Key players: The G+T team was led by G+T Ventures head Xavier Keary, who was supported by lawyers Henry Simpson and Alex Berry.

Deal significance: Speaking about the raise, Mr Keary said: “We are thrilled to have supported Loam Bio in its latest fundraising round.

“Soil carbon sequestration is a vital tool in the battle against climate change, and we are proud to be able to support Loam Bio in its mission to simultaneously increase soil carbon sequestration while improving soil health.”

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Loam chief executive Guy Hudson added: “Funding rounds can be complicated at the best of times; having specialist legal advisors with deep expertise in the field was crucial to running a smooth process.

“I would highly recommend Xavier and the G+T Ventures team.”