Australian early-stage VC Investible targets to raise $38.6m for second fund

Seed investment firm Investible announced that it’s targeting to raise A$50 million (US$38.6 million) for its second early-stage fund.

Investible CEO Rod Bristow / Photo credit: Investible

The second fund will build on the momentum generated through Investible’s inaugural Fund I, which closed oversubscribed in late 2019, the company said in a statement.

To date, the VCs first fund has made more than 32 investments, counting companies from 19 sectors and 9 countries in its portfolio.

The company also announced the appointment of its new CEO Rod Bristow, who will lead the second fund.

Bristow joins Investible after his two-year stint at ASX-listed Clime Investment Management. He has also worked as the chief operating officer at Commonwealth Bank of Australia and worked at Australian investing platform Macrovue as the company’s chief executive for three years.

Founded in 2014, Investible’s notable investments include augmented reality firm Jigspace, Indonesian agritech startup Eden Farm, and women-focused job marketplace Work180, which has since expanded into the UK and US.

“In a world characterized by low yield, a well-researched and managed portfolio of seed-stage companies should be part of every sophisticated investor’s portfolio,” said Bristow.

Investible claims it has an internal rate of return of over 55%, with 3.9x cash return on deals prior to 2015. Its failure rate sits at 16%.

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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.

The new venture will help early-stage startups achieve their growth goals, particularly in stages between seed and series A funding.