Atlassian cofounder and billionaire investor Mike Cannon-Brookes has lent Sun Cable, the startup behind a $30 billion project to send solar power to Singapore, $65 million to keep operating as the companys voluntary administrators look to sell the business.
Cannon-Brookes is making the no interest loan through his family venture capital firm, Grok Ventures after the administrators, FTI Consulting, sought short-term funding to continue Sun Cables operations.
Grok is one of the cornerstone investors in Sun Cable alongside mining billionaire Dr Andrew Forrest, having co-led aled a $210 million Series B round in March 2022, as well asthe initial funding in 2019.
But the company was placed in voluntary administration earlier this month after…
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