Investible, a venture capital business located in Australia and Singapore, announced today that its second fund had raised US $36.8 million in committed money.
The business announced the fund’s initial closing in June of this year, and this update comes after that.
Investible said that it has made four fresh investments from the oversubscribed second fund, totalling AU $2.2 million (US $1.5 million) thus far. Quantum Brilliance (Australian $13 million in seed capital) and Functionly (Australian $3.6 million) are two companies that have recently received the money.
Investible has also authorised seven further investments for Fund 2, the majority of which will be completed by the end of the year.
Investible announced the opening of a new US $72 million funds for climate innovation businesses in September. It’s also working on a new climate tech growth hub for startups and scaleups in Sydney, which will open in early 2023.
The velocity of this second fund’s completion, according to Investible CEO Rod Bristow, indicates investors’ trust in the firm’s success to date as well as increased investor interest in quality early-stage digital investing.
“Investing right at the start of a founder’s journey is still inherently risky. Smart investors are looking for venture capital firms that have a demonstrated ability to source and comprehensively screen a large pool of high-quality opportunities. In combination with a support offering that reduces the time between the Seed and Series A raises, this approach is key to attracting the world’s best founders,” said Bristow.
“Investible’s approach to building large, diversified early-stage portfolios resonates with investors and the success of many of the companies in our first fund show the depth and impact of our active founder support,” he added.
According to Crunchbase statistics, early-stage investment surged the highest among worldwide VC funding, growing 104 percent year over year, with over 1,900 startups raising money at this level internationally.
“Traditional asset classes are delivering lower returns but alternative assets, including venture capital, are attracting greater allocations of global capital. In a low-rate environment, we see VC as the best way to bring alpha and diversification to the traditional asset portfolio. Our model of investing early with a portfolio approach of a minimum of 35 companies in each Fund is proven to have the best risk-to-return profile when investing at an early stage,” he added.
