Australia’s Equity Venture Partners closes $35m second fund

The EVP team.

Sydney-based venture capital firm Equity Venture Partners (EVP) has closed its $35-million second fund targeting early-stage B2B software companies in Australia.

According to a statement, the second fund has already made four investments — in Fusion Sport, Pendula, Uptick and Deputy.

EVP has $60 million under management across Australia and New Zealand. It also has a portfolio of 22 businesses including Hotelclub, Siteminder, Rezdy and Shippit.

EVP co-founder Howard Leibman said: “It is now self-evident that Australian software companies compete successfully on a global stage. Having been on this journey with several in our portfolio, our focus for Fund II will be to identify early the next generation of Australian B2B software companies with the potential to become global category leaders.”

The VC added that it looks for companies operating in global markets that have products that integrate into their customers’ core business processes. It also scouts for exceptional founding teams with industry insider experience, early commercial traction and a vision for product-led growth.

EVP last launched a $20-million fund with small cap fund manager Microequities in 2016. According to the Australian publication Smart Company, the VC was investing between $500,000 and $3 million in local startups in exchange for 5-40 per cent equity with its first fund.