Terra Capital

What Terra Capital does

Terra Capital Holdings Pty Ltd is a privately held, Sydney-based boutique investment manager founded in 2010 that operates actively managed equity funds in the natural resources and energy-transition sectors. The firm serves wholesale and sophisticated investors as defined under the Australian Corporations Act 2001, restricting distribution to Australian residents and excluding US Persons. Its two flagship products are the Terra Capital Natural Resource Fund, which invests across globally listed mining and energy companies, and the Terra Capital Green Metals Fund, a fossil-fuel-excluded mandate targeting commodities required for net-zero emissions by 2050. Both funds are authorised representatives of AFSL 318 961.

The firm's investment process combines top-down commodity and macro analysis with bottom-up company research, supported by a proprietary GEMS (Governance, Environment, Momentum, Social) ESG scoring framework that evaluates more than 95 factors across governance, environmental, social, and engagement dimensions. The investment team is led by Founder and Chief Investment Officer Jeremy Bond, who previously worked at RAB Capital's Special Situations Fund (ranked No. 1 in Barron's Hedge Fund 50 Global in 2007), and Portfolio Manager Matthew Langsford, who joined in 2013. Dylan Kelly was added as Head Analyst in May 2023, the first disclosed build-out beyond the two principals. The managers are the largest investors in each fund, aligning manager and investor outcomes.

Terra Capital generates revenue through recurring management fees on approximately A$185 million in combined funds under management (A$170M in the Natural Resource Fund and A$15M in the Green Metals Fund). Distribution is direct to wholesale investors and financial advisers via the firm's investor portal, supported by content marketing through its News and Insights blog, annual ESG reports, and earned media in outlets including Bloomberg, CNBC Street Signs, Australian Financial Review, and the Money of Mine podcast. The firm has been an active cornerstone or placement participant in ASX-listed critical-miners (Temas Resources, Trek Metals, Meteoric Resources) over 2025-2026, signalling deepening deal flow in the energy-transition commodity supply chain.

Name

Terra Capital

Legal name

Terra Capital Holdings Pty Ltd

Website

https://terracapital.com.au

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

1–10 employees

Short description

Terra Capital is a Sydney-based boutique investment manager founded in 2010 running actively managed funds in natural resources and green metals equities for wholesale and sophisticated Australian investors, with approximately A$185M AUM under AFSL 318 961.

Ownership category

akta.pro rank

Product category

Specialist Fund Management

NAICS

Portfolio Management and Investment Advice (523940), Other Financial Investment Activities (5239), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Investment Advice (6282)

akta.pro primary industry

Real Assets — Operating Platforms & Direct Investments (FSAAAKAL)

akta.pro secondary industries

Natural Resources Funds (Timberland, Farmland, Minerals) (FSANAEAK), Sustainable/Thematic Investing (Climate, Clean Tech, Water, Biodiversity) (FSAAALAB), Small-Cap Equity (Active) (FSAAAIAC)

Keywords

• Natural resources equities
• Specialist fund management
• ESG investing framework
• Mining sector funds
• Critical minerals investing

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Fund Management Fees: Terra Capital generates revenue through management fees charged on their Natural Resource Fund and Green Metals Fund. The funds are authorized representatives of AFSL 318 961.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels7 records

Core offering

Terra Capital is a Sydney-based boutique investment manager that runs actively managed funds in the natural resources sector for wholesale and sophisticated investors in Australia. The firm manages the Terra Capital Natural Resource Fund and the Terra Capital Green Metals Fund, both authorized representatives of AFSL 318961, investing in globally listed mining and energy companies with a focus on commodities benefiting from the energy transition. Investment decisions are supported by a proprietary GEMS ESG scoring system integrating over 95 factors.

Product overview

Terra Capital is a specialist investment manager offering two primary actively managed funds: the Terra Capital Natural Resource Fund and the Terra Capital Green Metals Fund. Both funds are authorized representatives of AFSL 318961. The Natural Resource Fund focuses on globally listed mining and energy companies using a top-down commodity selection approach with bottom-up company research. The Green Metals Fund specifically targets critical minerals essential for the energy transition, excluding fossil fuel companies. The firm also employs a proprietary GEMS ESG scoring system as an integral part of its investment analysis framework, evaluating over 95 ESG factors across governance, environmental, social, and momentum dimensions.

Differentiator

Problem solved

Functional benefit

Products and services

• Terra Capital Natural Resource Fund An established actively managed fund investing in globally listed mining and energy companies for wholesale and sophisticated investors. Uses top-down commodity selection and macro analysis complemented by bottom-up company research focused on management teams, with diversified exposure across regions, commodities, and company stages.
• Terra Capital Green Metals Fund A fund investing in globally listed natural resources companies developing and producing minerals required to achieve net zero emissions by 2050. The mandate specifically excludes companies that focus on coal, oil, or gas, providing wholesale and sophisticated investors with exposure to critical minerals essential for the energy transition.

Quantifiable outcome

• Natural Resources Fund has significantly outperformed sector indices since inception in 2010

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• Endeavour FinancialminorStrategic or Co-development PartnerEndeavour Financial is mentioned as a strategic partner helping Empress Royalty access global opportunities. Terra Capital provides non-dilutive capital to mining projects in partnership with entities like Endeavour Financial.

Scale indicators1 record

Recent moves6 records

Expansion highlights4 records

Regional players

• Ausbil Investment Management: Australian active equity manager owned by New York Life Investment Management with significant resources and energy exposure. Comparable Australian active boutique but with broader investment universe and institutional parent.

Direct peers

• Baker Steel Capital Managers: London-based specialist resource and precious metals fund manager running the Baker Steel Precious Metals Fund and Gold & Silver Fund. Comparable specialist natural resources manager with active long-only commodity-equity strategy.
• Tribeca Investment Partners: Australian boutique investment manager running a Natural Resources Fund investing in global small-cap mining and energy equities. Directly comparable to Terra Capital in mandate, target clients (wholesale Australian investors), and active commodity-equity strategy.
• L1 Capital: Australian long-short equity manager with exposure to resources and small-cap industrials. Comparable boutique Australian manager with similar wholesale investor base and active investment style.
• Sprott Inc. Toronto-listed global asset manager specialising in precious metals, critical minerals, and energy transition commodities via streaming/royalties and mining equities. Closest large-scale pure-play natural resources investment manager to Terra Capital's mandate.

Others

• Resource Capital Funds: Global mining-focused private equity firm making direct investments in junior and mid-tier miners. Comparable natural resources focus and active deal participation (similar to Terra Capital's cornerstone strategy) but operates via private equity rather than listed-equity mandates.

Broad incumbents

• Perpetual Limited: Large Australian diversified fund manager offering multi-asset funds including resources exposure. Comparable on geography and target market but with significantly larger AUM and broader mandate than Terra Capital.
• BlackRock Natural Resources Trust: Global incumbent asset manager offering natural resources equity strategies including mining-focused funds. Comparable resources-equity exposure but as part of broad multi-asset portfolio, not specialist boutique.
• Platinum Asset Management: Australian active equity manager with global mandate including meaningful resources exposure. Comparable Australian boutique active manager serving wholesale investors, though with broader investment universe.
• VanEck Associates Corporation: US-based asset manager with a leading suite of natural resources and mining ETFs (e.g., VanEck Gold Miners ETF). Comparable natural resources thematic exposure but at vastly larger scale and via passive/ETF structures rather than active boutique management.

Market position

Strengths1 record

Weaknesses4 records

Competitive moat4 records

Key risks4 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Terra Capital