OneVentures, one of Australia’s leading venture capital firms, has announced the launch of its seventh fund. The new Growth Equity fund aims to raise $200 million to support the growth of later-stage technology companies.
Fund VII will increase OneVentures’ total funds under management to over $1 billion, marking a significant milestone for the firm – which will be celebrating 15 years in 2025.
Fund VII will invest between $10 million to $30 million in ambitious technology companies that have demonstrated significant potential and need capital to accelerate their growth and expansion in global markets. OneVentures’ concentrated portfolio size allows it to offer dedicated, hands-on guidance to support businesses through their strategic growth phases.
Leveraging OneVentures’ extensive operational and international expertise, the fund will primarily target technology companies across major growth thematics such as the ongoing digitisation of the economy and industries; AI disruption and automation, the trend to net zero and energy transition; tokenisation of assets and improving health outcomes, given the depth of both technology and healthcare expertise in the firm. The fund will follow a similar investment mandate as Fund I, II and V, the latter of which closed in May 2022 and is now near full deployment.
OneVentures Founding Partner and Managing Director Dr Michelle Deaker said, “It’s a great time to invest in growth equity, which is an underserved segment in Australia and provides attractive risk-adjusted returns. The market has gone through a correction, valuations have reset, terms are more favourable for investors, and companies have become more efficient and disciplined in the current climate. In combination, we believe these factors could support this fund to become a high-performing vintage fund.”
“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.
“We delivered a 13x return on the sale of our Fund II investment in Employment Hero at the end of 2023, which returned 1.5x the fund. Fund II has an impressive current multiple of 5x. Our first fund, Fund I, closed earlier in 2024, with a 10x multiple for our private investors.”
Looking ahead, there are many exciting milestones for OneVentures, and we expect to realise and distribute approximately $100 million to our investors in the next eight months.
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