Sydney technology-focused growth investment firm OneVentures has launched fundraising for its seventh fund, a growth equity vehicle which has a target of $200 million.
OneVentures founding partner and managing director Dr Michelle Deaker said there is currently a significant opportunity in the Australian market for growth capital investing, filling in the gap between where local venture capital firms cease investing and where large global growth companies come in. Opportunities in this space were typically companies that had reached $5 million to $15 million in annual recurring revenue.
Deaker said OneVentures Growth Fund VII would make investments of $10 million to $30 million in transformative technology companies that had demonstrated significant potential but needed support in accelerating their growth and expansion in global markets.
She expected the fund would attract strong commitments from returning institutional investors, despite a current challenging fundraising environment, because the firm had a good record of returning capital.
“Fund VII will continue our strategy of partnering closely with a concentrated portfolio of companies to provide operational and strategic guidance to propel them to the next level. We have a successful track record of investing in visionary founders who have used our expertise to grow their companies and have a global impact.”
Alongside equity funding, OneVentures offers debt funding with its current Growth Credit Fund IV managing around $120 million to support Australian and New Zealand technology companies scale operations, invest in new innovation and expand market reach.
Image: OneVentures founder and managing director Dr Michelle Deaker, third from left, with team members.