Boutique corporate funds management advisory organisation Polar 993 has reported a flood of enquiries from overseas and domestic Venture Capital, Private Equity and Credit firms looking to utilise Australia’s new Corporate Collective Investment Vehicle (CCIV) regime.
What is a Corporate Collective Investment Vehicle?
Polar 993’s first CCIV was established with the support of Merricks Capital, one of Australia’s leading fund managers focused on hard assets in Australia and New Zealand market.
A Corporate Collective Investment Vehicle (CCIV) is a globally recognised, share based collective investment structure and is materially different to the normal corporate Trust arrangement used in Australia. The Federal Government approved the structure earlier this year to better attract offshore capital as well as assist local wholesale investors.
Polar 993 provides professional corporate trustee services and AFSL licensing and works with and advises some of Australia’s leading VCs, including: SEEK Growth Fund, the Josh Liberman backed Lumir Ventures and Israel’s largest HealthTech and Life Sciences fund aMoon.
What does CCIV mean for Australia?
Mr Lindell, who has just returned from a fact finding VC tech tour of Israel on a trip led by Josh Liberman and his venture firm Lumir Ventures, said Australia was at the forefront of a new era of limitless opportunities for investment. “The introduction of Corporate Collective Investment Vehicle (CCIV) is a game-changer for funds management in Australia and we are pleased to be a market leader in establishing a state-of-the-art solution,” Mr Lindell said.
“Australia has opened the door for foreign capital to flow in a regulated way but without structural impediments. This is going to materially strengthen Australia’s position as a significant player in financial services in the APAC,” said Polar 993 Founder Adam Lindell.
“Polar 993 is delighted to be the first trustee to register an investment vehicle under the new CCIV structure. We’ve seen significant interest from global fund managers looking to raise capital out of Australia. They love this structure. We’ve had enquiries from large institutional VC, PE and Credit funds across America and Asia – and domestic asset managers.”
“CCIVs are structured to be competitive, flexible, and scalable umbrella investment vehicles. CCIVs provide investment managers with less administrative burden for multi-strategy offerings and protect investors against the risk of asset class cross-contamination,” he said.
What does CCIV mean for the investment landscape?
Serial technology investor and head of Israeli tech focused Lumir Ventures, Josh Liberman said: “We have worked with Polar 993 extensively and are actively exploring this fantastic structure for venture capital and private credit opportunities. Having known Adam Lindell and the structuring expertise of Polar 993 – the utilisation of a Corporate Collective Investment Vehicle for venture capital and private credit work is appealing and advantageous.”
Merricks Capital Executive Chairman and Chief Investment Officer Adrian Redlich said Merricks Capital was pleased to support the initiative. “As an innovative fund manager, we support important industry developments and Polar 993 is at the cutting edge,” Adrian said.
“While Merricks Capital’s strategy remains unchanged with its focus on investing in hard assets in the agriculture, commercial real estate and infrastructure sectors, we believe that the new regime may provide future opportunities to work with offshore investors.”