Venture capital firm EVP has closed its fourth fund, announcing a final close in excess of the firm’s $100m target. The new fund takes the firm’s total funds under management to over $270m, with a growing portfolio of over 40 investments.
Co-Founder and Partner of EVP Howard Leibman acknowledged that the fundraising environment in 2022 was more difficult than in previous years.
“We saw a significant reset in valuations through 2022, leading many investors to re-evaluate their long-term exposure to technology in the private markets.”
“We relied significantly on the continued support from our longstanding investors. At our First Close of $60m, commitments were overwhelmingly from our existing base. As we raised the $40m balance through late 2022, we were pleased to welcome a good number of new investors to the fund.”
“As with all previous funds, our investors are family offices and private individuals seeking exposure to Australia’s most prospective emerging technology businesses. For many, our sharp focus on early-stage B2B software and the consistency of our approach over multiple funds continue to resonate.”
EVP has already begun deploying capital from the new fund, having completed three investments and with a further two at term sheet stage.
“We aim to build a concentrated portfolio of up to 15 companies. Whilst we won’t invest pre-revenue, we aim to partner with our founders very early on their journeys. If you’re a B2B software company with a global market and strong early traction, we want to talk to you!”
Funding options for local technology startups have broadened significantly over recent years.
According to Leibman, “the local ecosystem is mature enough to support a number of funds with specialist investment mandates. For EVP, we think our exclusive focus on B2B software gives us a certain advantage in our investment process. Without doubt, it makes us better partners to our founders. As we begin to deploy Fund IV, and as the local ecosystem continues to grow, we look forward to supporting Australia’s next generation of global software businesses.”
If you're a founder building a B2B software company, please get in touch with us.
Venture capital firm EVP has closed its fourth fund, announcing a final close in excess of the firm’s $100m target. The new fund takes the firm’s total funds under management to over $270m, with a growing portfolio of over 40 investments.
Co-Founder and Partner of EVP Howard Leibman acknowledged that the fundraising environment in 2022 was more difficult than in previous years.
“We saw a significant reset in valuations through 2022, leading many investors to re-evaluate their long-term exposure to technology in the private markets.”
“We relied significantly on the continued support from our longstanding investors. At our First Close of $60m, commitments were overwhelmingly from our existing base. As we raised the $40m balance through late 2022, we were pleased to welcome a good number of new investors to the fund.”
“As with all previous funds, our investors are family offices and private individuals seeking exposure to Australia’s most prospective emerging technology businesses. For many, our sharp focus on early-stage B2B software and the consistency of our approach over multiple funds continue to resonate.”
EVP has already begun deploying capital from the new fund, having completed three investments and with a further two at term sheet stage.
“We aim to build a concentrated portfolio of up to 15 companies. Whilst we won’t invest pre-revenue, we aim to partner with our founders very early on their journeys. If you’re a B2B software company with a global market and strong early traction, we want to talk to you!”
Funding options for local technology startups have broadened significantly over recent years.
According to Leibman, “the local ecosystem is mature enough to support a number of funds with specialist investment mandates. For EVP, we think our exclusive focus on B2B software gives us a certain advantage in our investment process. Without doubt, it makes us better partners to our founders. As we begin to deploy Fund IV, and as the local ecosystem continues to grow, we look forward to supporting Australia’s next generation of global software businesses.”
If you're a founder building a B2B software company, please get in touch with us.