Investible announced that it has successfully closed its second early stage investment Fund oversubscribed, resulting into an appreciated $51.6 million in committed capital.
The close comes just a few months after Investible first announced that its funding raise plans and caps off a year of strong growth for the early-stage venture capital firm.
Investible’s first Fund closed oversubscribed in 2019 with $22.5m after an 18-month raise.
Investible experiencing high growth momentum
Investible’s Chief Executive Officer Rod Bristow joined the company in March of this year 2021 explained in more details the aspects that facilitated the to achieve this milestone.
“The funding momentum reflects investors’ confidence in Investible’s performance to date and growing investor interest in accessing quality early stage technology investing.”
“Investing right at the start of a founder’s journey is inherently risky,” said Bristow.
“Smart investors are looking for venture capital firms who have a demonstrated ability to source and comprehensively screen a large pool of high-quality opportunities.”
“In combination with a support offering solution that reduces the time between the Seed and Series A raises, this funding approach is essential to attracting the world’s best founders.”
“Investible’s systematic approach to facilitate efforts in building large and diversified early stage portfolios resonates with investors. The success of many of the companies in our first fund shows the depth and impact of our active founder support.”
Of the first twenty eight startup companies available in Investible’s Fund 1 portfolio, twenty companies have already gone on to raise subsequent capital in excess of $80 million.
They include JigSpace, the Melbourne-based AR platform was featured by Apple CEO Tim Cook in the iPhone 12 launch, Indonesian agtech and supply chain network Eden Farm plus Manettas Seafood, which signed a tech partnership with the new Sydney Fish Market.
Bristow says Investible is well-positioned to expand as more investors recognise the opportunity for an allocation to early stage venture capital in their investment portfolios.
Crunchbase data shows that among global venture capital funding, early stage funding grew the most, up 104% YoY, with over 1,900 companies raising at this stage globally.
“Traditional asset classes are delivering lower returns, compared to alternative assets such as venture capital which is attracting greater allocations of global capital.”
“In a low-rate environment, we continue to see venture capital funding as the most appropriate approach so as to bring alpha and diversification into the traditional asset portfolio.”
“Our model of investing early with a portfolio approach with a minimum of 35 companies in each Fund is proven to have the best risk-to-return profile when investing at early stage.”
Investible’s momentum continues into 2022
Investible has already managed to make four new investments from the second fund, with $2.2 million being deployed strategically across Australia and Singapore to date.
Recent investments include Quantum Brilliance, which raised $13m in seed funding to unlock a new trajectory of quantum applications and Functionly, which raised $3.6m to further its mission to disrupt and democratise organisational design with user friendly software.
Having reviewed more than 700 early stage investments in the last quarter, Investible has approved seven investments for Fund 2, expecting to finalise before the year ends.
Investible’s Investment Director Daniel Veytsblit is responsible for managing both of the early-stage Funds. He applauded the entrepreneurial skills leveraged so far.
“The best founders turned the disruption caused by COVID-19 pandemic into an opportunity.”
“We experienced this phenomenon across our portfolio with companies either increasing sales, improving customer relationships or making material product developments.”
“We are looking for this same hustle and resilience in the founders we are investing in today.”
This successful oversubscribed funding raise is yet another significant milestone that has been achieved in what can be summarised as Investible’s biggest year since its inception.
The company is already underway in raising a $100 million Climate Tech Fund to invest in companies that assist in reducing global emissions and to develop Greenhouse.
Greenhouse is a new climate tech growth hub for startups and scaleups, set to open in Sydney in early 2023. Investible also nearly doubled its team, with close to 30 staff.
Recent additions to the team include Jacqueline Fernley as Head of Club Investible—the VC firm’s global network of strategic co-investors, and Singapore-based Khairu Rejal as Principal, who will support investment, deal flow and operations in Southeast Asia.
“We are investing in our people to continue delivering our goal of supporting Founders to be successful globally. We look forward to an even more exciting 2022,” said Bristow.