Australia’s largest angel investment organisation, Sydney Angels, is today launching its second co-investment fund, the Sydney Angels Sidecar Fund 2, which will be raising $10 to 20 million to invest in promising early-stage Australian ventures.
It follows the pioneering Sidecar Fund 1 launched in 2012, which has invested $8 million alongside angel investors, in 27 start-ups that have so far gone on to raise a further $85 million in equity capital and grants to scale their businesses.
“Our first sidecar fund has successfully completed its five year investment period and its portfolio of 27 includes a number of successful high profile ventures such as Ingogo, Fame and Partners, Instaclustr, and Clarity Pharmaceuticals, to name just a few,” said Richard Dale, Sydney Angels and Sidecar Fund Investment committee member.
“Early investments by Sydney Angels members have helped put start-ups on the path to success, including Atomo Diagnostics which was first invested back in 2011 and is now a player on the world stage, receiving substantial investments and grants from the Bill & Melinda Gates Foundation. Back then only angel investors could get into exciting early stage deals like Atomo, but since 2012 when Sidecar Fund 1 became operational its investors have had a stake in every deal Sydney Angels members do.”
“We believe that Sidecar Fund 2 will similarly provide investors with opportunities to support promising Australian start-ups as they scale innovative ideas into businesses of great value.”
The fund leverages an exclusive co-investment arrangement with Sydney Angels, Australia’s largest and most active angel group, which each year screens and evaluates hundreds of high growth potential early-stage investment opportunities. Sydney Angels utilises the diverse range of experience and expertise of over 100 angel investor members.
Sydney Angels Sidecar Fund 2 is open to wholesale and sophisticated investors keen to invest alongside experienced angels, make follow on investments in the investees of Fund 1 and gain access to attractive early stage investment tax benefits.