SA Venture Capital Fund (SAVCF)
To help build South Australian companies to a national and global scale, the South Australian Government has established the $50 million SAVCF that will invest in dynamic and innovative early-stage companies to accelerate their growth to a national and global scale.
The SAVCF has been structured as a co-investment fund, requiring each initial investment into an eligible company to be matched with at least 50% investment from other venture capital funds, high net-worth’s or other sophisticated investors.
The SA Venture Capital Fund will:
Enable innovative South Australian ventures to secure funding and accelerate growth into national and global markets, stimulating economic activity and job creation.
Strengthen the competitiveness of local early-stage entrepreneurs and companies to attract private sources of co-investment from national and international investors.
Earn a commercial rate of return for investors, including the South Australian Government, and commensurate with industry standards for early-stage venture capital funds.
The SAVCF will consider initial investment in high growth and export potential companies that have at least demonstrated a market for their product or service and have either commenced generating revenue or can demonstrate customer validation and evidence a route to revenue generation.
Life science and biotech companies are exempt. In such cases, the SAVCF may consider initial investment once a company has demonstrated Phase 1 clinical trial results, or the equivalent stage for a medical device.
The SAVCF will not have any restrictions in terms of sectors or industries that eligible companies may participate in but requires the company to have 50% of its assets and 50% of its staff located in South Australia during a period that ends 12 months from the initial investment date.
The SAVCF will not invest in companies whose predominant activity is:
Property development or land ownership
Finance (other than finance technologies)
Insurance (other than insurance technologies)
Construction (other than construction technologies)
Making investments directed at deriving passive income.
The SAVCF will not invest in companies with assets more than $250M or that is a publicly listed company unless that company will be delisted within 12 months of the investment being made.
The SAVCF is managed by Artesian Venture Partners (www.savcfund.com), one of Australia’s most active venture capital managers. Artesian is a full stack venture capital firm focused on the Asia Pacific region with offices in Adelaide, Sydney, Melbourne, Jakarta, Singapore and Shanghai.
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