Investible, an early-stage tech startup investor providing early-stage founders with the intellectual and financial capital they need to scale, has just announced the first close of its second fund, with a target of $37.4 million (A$50 million). So far, the company has raised $26.24 million (A$35 million). The fund will be used to focus on Australian and Southeast Asian startups.
“The speed and success of Investible’s second fundraise to date reflects the fact that more investors are seeking opportunities to diversify their portfolio and back high-potential tech companies early. The momentum also indicates, however, that a proven track record and a portfolio approach to seed-stage investing are both critical in giving investors’ confidence to enter what is a risky stage of investment,” said Rod Bristow, Chief Executive Officer, Investible.
Investible was founded in 2014 by Creel Price and Trevor Folsom. The company has offices in Australia and Singapore. Aside from managing early-stage funds, Investible also manages a network of global investors to help in sourcing, engaging, and supporting startups and founders. It continues to work on growing its presence across Southeast Asia.
Investible plans to use its second fund to invest in tech startups mostly in Australia. The VC fund has earmarked 30 percent of the fund’s committed capital to be used for global investments, the majority of which they expect to put towards Southeast Asian investments. Its investments will range from roughly $187,000 to $562,000 with possible follow-on investments ranging from roughly $749,000 to $1.12 million.
“This builds on the strong momentum generated from Fund 1, where we invested in outstanding early-stage businesses in Singapore, Indonesia, and the Philippines,” Bristow added.
So far, Investible has made three investments in 2021. It acted as lead investor for the seed rounds of Indonesian agriculture supply chain startup Eden Farm Indonesia and Melbourne-based AI-powered chat-bot platform Rental Heroes. Last September 2020, Investible also acted as lead investor for Filipino profit optimization solutions provider Mosaic Solutions.
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