Australian VC firm Investible raises $27m in first close of its second fund

Seed investment firm Investible announced it has surpassed its target to hit A$35 million (US$27 million) in the first close of its second seed-stage fund.

More details

• Investors: Undisclosed
• Target amount: A$50 million (US$38.5 million)
• Average ticket size for investments: Unspecified
• Sectors: Business-to-business commerce, software-as-a-service, and agritech, among others

More company updates

• The company said it has increased the percentage of funding available to international businesses based outside of Australia from 20% to 30%.
• Along with the raise of its second fund, the firm’s co-founder Creel Price will also launch a new sister company in partnership with climate-focused technology investor Mick Liubinskas and Elisa-Marie Dumas, head of global programs at Investible.
• In 2019, Investible closed its oversubscribed inaugural fund with A$22.5 million (US$17.4 million) in capital after an 18-month fundraise, according to the company.
• In March, the investment company said it was targeting to raise A$50 million (US$38.6 million) for its second early-stage fund, which will help early-stage startups achieve their growth goals, particularly in the stages between seed and series A fundings.
• Founded in 2014, Investible’s notable investments include those made in augmented reality firm Jigspace, Indonesian agritech startup Eden Farm, and women-focused job marketplace Work180, which has since expanded into the UK and the US.

For more coverage about the company, head here. You can also click on the link below to view the company’s key details and funding history.

Currency converted from US dollar to Australian dollar: US$1 = A$1.30.