r&mpersand

FAQ

How we work

Process, timing and what we look for

 

At a glance

We’re an early stage tech fund that invests in late seed to Series A investment rounds.

  • Our average first investment is just under $1m but we have invested from $150k up to $3m

  • We like to connect with founders as early as possible — we invest anywhere from pre-revenue to series A, so it’s great to build the relationship

  • Fund 1 launched in 2013 and backed 10 companies. Fund 2 launched in 2016 and has made more than 10 investments so far. You can find most of them here.


What we’re looking for

The world’s best, not just Australia’s best: we are in a globally competitive environment.

  • Big vision, big ambition, big belief.

  • Ambitious, well rounded teams

  • Solving real problems

  • Companies serving big markets, or niches you can own.

  • Tech companies: while all companies are now tech-enabled, we are looking for companies that build the breakthrough tech itself.


The dream pitch

Here’s what we want to understand:

  • You and your team: a startup’s success is largely about its leadership.

  • The problem you are solving and why

  • Your unique solution: both the product now, and what it will be in the future

  • Progress to date — this helps us know how well you’re doing but also if you’re at the right stage for a meeting.

  • Big plans — both the huge vision and the more immediately achievable elements of it. We want to hear both.

Our process

We have a five step process, with a go/no go after each stage:

  1. An initial phone call with one of the team here.

  2. Meeting with one of the managing partners

  3. Deeper dives: go to market, product, team

  4. Internal presentation to investment committee (term sheet would be presented at this point)

  5. Finalise the investment


when you should get in touch

We like to hear from founders early in their journey.

  • Taking on investment is a big decision for founders. Connecting early gives both sides the chance to get to know each other well.

  • For many of our portfolio, we were the first fund to invest.

  • That said, we are happy to follow in rounds also if you already have lead.

  • We have invested in companies we’ve just met, but it’s useful to reach out as early as possible.

Diversity and Inclusion

The venture capital community has a long way to go in terms of even getting close to investing in diversity, and that includes us. Diversity is about more than gender, but we simply do not see enough women founders, only about 20% of the founders who reach out to us are women. We would love to hear from founders who may feel they don’t fit in tech— even if that’s a long time before they feel ready to raise.

Along with several other Australian venture funds, in 2018 we signed up to an industry code of conduct. Details here.