In October 2009, it was announced that Ant Global Partners Pte Ltd, a private equity firm controlled by agricultural lender Norinchukin Bank of Japan, planned to raise a $250 million clean technology fund over the following three years, focussed on ventures such as water treatment and renewable projects in Indonesia.[2] The Indonesia Clean Technology Fund was raised in partnership with Indonesia's finance ministry and the Government Investment Unit raised 10% of the fund.[2] In January 2010, the GIU pledged a contribution of $100 million to the Indonesian Green Investment Fund, which it will also oversee in terms of management.[3] The fund invests in renewable energy projects and water treatment to address the effects of climate change and was inspired by the GIU-funded Indonesia Clean Technology Fund of 2009.[3] In December 2011, the GIU invested in the State Electricity Company.[4]