OneVentures launches new fund to address the lack of growth stage funding in Australia
The Australian VC is launching an ambitious $200 million fund to target later-stage tech companies. Founding partner Michelle Deaker explains the approach.
Long-running Australian venture capital firm OneVentures has announced the launch of its seventh fund, which aims to raise $200 million to support the expansion of later-stage technology companies.
OneVentures founding partner Michelle Deaker told Capital Brief there is a significant opportunity in the Australian market right now for growth capital investing. She highlighted “the gap between where venture capital may play and where the big global growth funds come in,” particularly for companies with $5 to 15 million in annual recurring revenue.
The firm, which was founded in 2006, will be tapping existing LPs, Australian super funds, and overseas investors — particularly from Europe and the US — to capitalise on this gap in growth-stage investment opportunities in Australia.
Deaker reports strong interest in the Growth Equity fund despite current market conditions. She cited the firm’s track record of returns as one of the top reasons. “We’ve been returning capital, and we’ve got more capital being returned,” she said. “In the next eight months, we’re probably returning another 100 million dollars to investors.”
