Pollination, a climate-focused advisory and investment firm with ambitions of becoming a “green Macquarie”, has abandoned its planned $150 million venture capital fund, after failing to raise enough capital.

Led by chief executive Martijn Wilder – who is also the chair of the government’s $15 billion National Reconstruction Fund – Pollination has been trying to raise the fund since last June, when it secured a cornerstone investment from Queensland’s sovereign wealth fund QIC.