Former Clime Investment Management chief executive (CEO), Rod Bristow, has been appointed as CEO of seed investment group, Investible.
Bristow had over 25 years’ experience in the asset management, wealth management and consulting sectors.
He had also held senior executive roles with CommSec, national wealth management group Infocus Wealth Management and environmental non-government organisation (NGO) Greening Australia.
His initial focus would be to lead Investible in successfully raising a $50 million early-stage fund.
“Investible enables investors to access a new asset class and its approach to seed-stage investing delivers very attractive risk-return characteristics,” Bristow said.
“In a world characterised by low yield, a well-researched and managed portfolio of seed-stage companies should be part of every sophisticated investor’s portfolio.”
The second fund would build on the momentum generated via Investible’s inaugural Fund I, which closed oversubscribed in late 2019.
To date, I had made more than 32 investments, having reviewed more than 4,000 opportunities. The portfolio represented 19 sectors and nine countries, with 19% of companies having at least one female founder.
Bristow said the early signs of success from Fund I reflect a more significant opportunity for investors to capitalise on the growing demand for ‘smart capital’ at the seed-stage.
“While the overall amount of VC funding is on the rise in Australia, most of this funding is going to a relatively small group of more established companies,” he said.
“Investors now have the opportunity to capitalise on the gap in the market at early stage by leveraging Investible’s early-stage investing expertise to back the next generation of tech pioneers.”
Co-founder Creel Price would also team up with startup veterans Mick Liubinskas and Elisa-Marie Dumas to launch a new sister company to Investible.
The new venture will explore innovative ways to leverage capital, talent and development programs to help early-stage startups achieve their growth goals, particularly in the precarious stage between seed and series A funding.
Price will also remain active within Investible as a member of the board and the group investment committee.
Co-founder Trevor Folsom will continue to serve as Investible chairman and as a member of the group investment committee.