Investible, an Australia-based seed-stage investment firm, announced today it is raising its second early-stage fund, targeting AUD 50 million (US$38.8 million).
Additionally, the VC firm has appointed Rod Bristow, previously CEO of publicly-listed Clime Investment Management, as its new CEO.
Launched in 2014 by entrepreneurs-turned-angel investors Creel Price and Trevor Folsom, Investible invests in early-stage startups across Southeast Asia and Australia. The fund’s inaugural fund, which was oversubscribed in late 2019, has made over 32 investments.
The fund’s notable portfolio companies, representing 19 sectors across nine countries, include Filipino restaurant management company Mosaic Solutions and Indonesia-based agritech startup Eden Farm.
Investible claims that when combined with Club Investible — its network of angel investors who co-invest alongside its funds and assist in sourcing, engaging and supporting founders — the firm has achieved an Internal Rate of Return (IRR) of more than 55 per cent and 3.9 times cash return on deals prior to 2015. Its failure rate sits at 16 per cent.
“Investible enables investors to access a new asset class and its approach to seed-stage investing delivers very attractive risk-return characteristics. 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,” Bristow noted.
Also Read: What early-stage startups should know when fundraising with VC’s
He added 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.
“From the beginning, our vision for Investible has been to elevate seed investment on a global scale and enable high-potential founders to achieve their goals. Trevor and I welcome the additional experience, leadership and passion Rod brings to the business, as we enter this next phase of growth,” shared Price.
Meanwhile, Price will team up with startup ecosystem 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.
Investible shared Price will remain active within the firm as a member of the Board and the Group Investment Committee. Folsom will continue to serve as Investible’s Chairman and as a member of the Group Investment Committee.
Image Credit: Investible
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