Investible confirms early stage fund first close

Early-stage investment group, Investible has confirmed the first close for their inaugural ESVCLP fund, the Investible Early Stage Fund.

The fund was seeking over $20 million in commitment and would remain open to allow investors to gain access, the firm said.

According to Investible’s chief executive, Creel Price, the seed stage was often overlooked by institutional investors and larger venture capital funds.

“With the bulk of the $2 billion raised in venture capital in Australia over the last three years going toward Series A and later stage rounds, the Investible Early Stage fills a huge gap in the market,” he said.

“Without this valuable source of capital, Australia won’t develop the high growth technology scaleups that will ultimately underpin the jobs of the future.”

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Price stressed that the sector-agnostic approach would give broad exposure to innovation without high concentration in over-hyped and over-valued investments trends.

“Our experience shows that building a large portfolio of smaller investments in quality early stage start-ups provides investors higher returns with less individual company risk,” he said.

The Investible Early Stage Fund would be structured as an Early Stage Venture Capital Limited Partnership with 10 years capital gains tax free and a non-refundable carry-forward offset of up to 10 per cent of the contribution made by a limited partner.

Also, Investible said it recently announced regional offices in Melbourne and Singapore to deal with the growing technology sector in South East Asia.