Australian PE firm Five V Capital raises $398m for latest fund

Sydney Opera House, Sydney, Australia. Photo: Holger Link/Unsplash

Five V Capital, a private equity firm headquartered in Sydney, has just raised a new A$550-million ($398 million) fund that will focus on high-growth assets in small to mid-market firms, according to reports.

Five V is led by principals Adrian MacKenzie and Srdjan Dangubic. It currently has A$1.1 billion funds under management following the final close of Fund IV.

The firm specialises in high-growth, technology-enabled companies and has made 15 PE and 17 VC investments to date, including in businesses such as Education Perfect, Probe Group, and Universal Store.

Recently, it acquired a A$50-million stake in Australian cyber technology business Penten and made an A$80 million investment in cloud-based share registry provider Automic Group.

“Our approach is centred around partnership. We’re driven by understanding and collaborating with the businesses we invest in because we know that growth is just as much about capability and execution, as it is about funds,” the firm said on its website.

In a separate announcement, ASX-listed investment manager Pinnacle Investment Management said it has invested A$65 million in Five V Capital plus an additional $10 million contingent on successful fundraising for Five V’s venture capital strategy.

Pinnacle said the investment will give it exposure to Five V’s Fund III, Fund IV, VC Fund 1, and future funds raised by Five V. There was no sell-down by existing Five V principals.

The Five V team, Pinnacle added, has consistently delivered strong returns with money multiples of 10.3x and 4.4x across Fund I and Fund II, respectively.

The investment will be used by Five V to support co-investments, business development, and growth initiatives.

“The primary capital investment in Five V will enable us to now invest our balance sheet alongside the significant team investment in our funds,” said Five V founder Adrian MacKenzie.

Another Australian investment manager, Morrison & Co, announced hitting the first close of its latest open-ended global infrastructure fund with more than $3 billion in commitments and co-investment capital from anchor investors.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.