Investible has officially closed its first venture capital fund with $22 million in committed capital – above its initial $20 million target.
Over the last decade, Investible has built its reputation as a top early-stage investor, with investments in more than 70 companies, including Canva, Ipsy and Brandless, and achieving an unrealised internal rate of return IRR of over 60%.
The Investible Early Stage Fund uses Investible’s honed investment methodology, founder development programs and growing investor network to effectively source and screen a large volume of high-quality, early-stage investment opportunities.
The Fund plans to make around 15 new investments a year and has already made 12 investments, with the portfolio showing early promising signs. Its first investment, Peter Manettas Seafood, has since completed a subsequent raise with a valuation of five times the initial raise.
While the Fund will focus primarily on Australian startups, 1,300 opportunities have been screened in the past 15 months from around the world. Investments have been made in the United States, Canada, Israel and New Zealand and include Dexibit, which provides a data analytics solution for visitor attractions, big data-powered travel platform Hotelmize, and diversity and inclusion focused global jobs network WORK180.
“Investing at the seed stage on a deal-by-deal basis is risky. It is critical to build an early stage portfolio with diversity by industry, geography, business model and customer base to manage the risk. It’s a challenge, however, for many investors to access a high volume of quality dealflow,” said Investible Investment Director Daniel Veytsblit.
“Our founder focus coupled with our data driven methodology that assesses up to 200 data points aims to build a diversified portfolio of early stage tech and tech-enabled companies with a mix of thriveable and survivable business models.”
The Fund runs in parallel to Club Investible, Investible’s invitation-only network of sophisticated angel investors. Club members have taken an active role in the Investible process with members co-investing in 10 of the Fund’s portfolio companies. The Fund also leverages Investible’s ongoing founder support and development programs, Investible Circle and The Investible Games – challenge-based events that test founders’ investibility and promote impactful connections between startups and early-stage investors.
“Globally, investors have become increasingly interested in venture capital as technology companies are seen as a major growth area and companies stay private longer with outsized returns created in private markets. The Fund creates an opportunity for investors to invest in innovation and potentially hedge against disruption to other areas of their portfolio.”
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