Australian VC firm bags $37m in final close of second fund

Investible, an early-stage VC firm based in Australia, has announced that it has raised US$36.8 million in the final close for its second fund.

Participants in the fund include tech executives and investors in Australia as well as high-net-worth individuals and family offices from across the Asia-Pacific region, the company told Tech in Asia.

Photo credit: Investible

Investible has a unique structure that enables its network of investors to co-invest alongside its funds. The company said it is achieving returns in the top quartile of early-stage investors globally. Its portfolio companies include Canva, Booksy, Muso, Ivy, Catalyst, and Eden Farm, among others.

Ticket sizes for investments from the new fund range from US$150,000 to US$700,000, with an average of US$350,000. The fund is sector agnostic, but excludes the biotech sector.

The company said that the new investment vehicle looks to back 50 startups across Asia Pacific, with nearly a third of the pool of capital saved for startups in Southeast Asia. The VC added that it has already backed four funding rounds from its second fund, having injected almost US$1.6 million across companies in Australia and Singapore to date.

Investible was founded in 2014 by entrepreneurs turned angel investors Creel Price and Trevor Folsom. The early-stage VC has offices in Australia and Singapore.

The company’s first fund, which it closed in late 2019, raised US$16 million.

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Investible also announced that it is currently raising roughly US$71.7 million for its Climate Tech Fund, which invests in companies that help reduce global emissions. The VC also developing Greenhouse, a new climate tech growth hub for startups that’s set to open in Australia in 2023.