South Australia Venture Capital Fund
The SAVCF has been structured as a co-investment fund, requiring each initial investment into an eligible company to be matched with at least 50% investment from other venture capital funds, high net-worth’s or other sophisticated investors.
The SA Venture Capital Fund will:
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Enable innovative South Australian ventures to secure funding and accelerate growth into national and global markets, stimulating economic activity and job creation.
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Strengthen the competitiveness of local early-stage entrepreneurs and companies to attract private sources of co-investment from national and international investors.
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Earn a commercial rate of return for investors, including the South Australian Government, and commensurate with industry standards for early-stage venture capital funds.
Eligibility
The
SAVCF will consider initial investment in high growth and export
potential companies that have at least demonstrated a market for their
product or service and have either commenced generating revenue or can
demonstrate customer validation and evidence a route to revenue
generation.
Life science and biotech companies are exempt. In such cases, the SAVCF
may consider initial investment once a company has demonstrated Phase 1
clinical trial results, or the equivalent stage for a medical device.
The SAVCF will not have any restrictions in terms of sectors or
industries that eligible companies may participate in but requires the
company to have 50% of its assets and 50% of its staff located in South
Australia during a period that ends 12 months from the initial
investment date.
The SAVCF will not invest in companies whose predominant activity is:
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Property development or land ownership
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Finance (other than finance technologies)
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Insurance (other than insurance technologies)
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Construction (other than construction technologies)
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Making investments directed at deriving passive income.
The SAVCF will not invest in companies with assets more than $250M or that is a publicly listed company unless that company will be delisted within 12 months of the investment being made.