Less than three months into raising its second early-stage investment fund of $50 million, Investible has surpassed its first close target.
Less than three months after announcing our plans to raise a second early-stage investment fund, Investible has surpassed its first close target.
As of this month, we've secured $35 million in committed capital for its second fund as we move quickly toward our $50 million target. The milestone reflects great progress since our inaugural ESVCLP fund, which closed oversubscribed in late 2019 with $22.5 million in capital committed.
The progress also signals positive momentum for our CEO Rod Bristow, who joined our team in March.
“The speed and success of Investible’s second fund raise to date reflects the fact that more investors are seeking opportunities to diversify their portfolio and back high-potential tech companies early. The momentum also indicates, however, that a proven track record and a portfolio approach to seed stage investing are both critical in giving investors’ confidence to enter what is a risky stage of investment,” said Bristow.
“The team has spent the better part of a decade zeroing in on how to de-risk seed stage investing and we’re starting to see the fruits of that focus.”
Since mid-2018, Investible has invested in 36 companies via its inaugural Fund. Since initial investment, 12 Fund I portfolio companies have gone on to raise more than $50 million in additional capital and in total, portfolio companies have added 600 new jobs across their businesses.
“We’ve been impressed by how well the portfolio is tracking, particularly over the last year. Many turned COVID-19 into an opportunity, with companies such as JigSpace, Manettas Seafood, and WORK180 hitting company-defining milestones and laying out a clear path for global expansion,” added Bristow.
We're just getting started
Investible is on an expansion path of our own in order to support our growing portfolio.
Product specialist Lisa Kim has joined the business as our Portfolio Manager to provide strategic and operational support across the Investible portfolio. She brings more than 10 years of experience across strategic advisory, product management and commercialisation, gained in diverse environments including PwC, Wolters Kluwer, and as a startup founder in the LegalTech sector.
We've also expanded our Investment, Marketing and Operational teams with 6 additional hires since the start of the year.
“It’s been exciting to come into a business on the cusp of significant growth. The combination of an experienced, passionate team and a robust investment strategy positions Investible to not only mature as an asset manager but also to make an impact across other critical parts of the ecosystem and support even more industry-defining founders.”
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The Investible group of companies includes various entities who are corporate authorised representatives (CAR) of Boutique Capital Pty Ltd (BCPL) AFSL 508011. The full list of entities are detailed below/via a link.
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