Following the success of its first fund, rampersand is looking to raise another $50 million to provide early growth stage funding for promising Australian tech businesses.
Founders Paul Naphtali and Jim Cassidy alongside other partners as well as Eloise Watson, an analyst, are building on the success of rampersand’s first fund, as well as their overseas success as investors/senior execs with over $10 billion of exits to companies including Facebook, Oracle, Singtel, Telefonica and Axel Springer.
New fund, same mission
rampersand will continue its focus on early growth stage Australian tech businesses, plugging one of the remaining gaps in the Australian ecosystem.
It is for this reason that the second fund turns out to be an ESVCLP and will be up to $50 million. There has already been an initial close nearly half way there, and the first investment has been made with PromisePay taking this first injection of funds, with two other opportunities at an advanced stage.
rampersand not only invests capital but also offers these start-ups valuable sales, marketing and public relations expertise.
It is worth noting that while rampersand’s injection of funds into a business will make a difference financially, according to managing partner Paul Naphtali, it is the support with sales and marketing, communication, exposure to rampersand’s global network that delivers the real value.
“Growth-stage technology businesses need more than just money — they need partners who understand the pace, challenges and opportunities of the start-up process,” he told Anthill.