Australia's CapitalPitch launches $7m early-stage fund

The fund will be available exclusively for start-ups that list on CapitalPitch's online platform, which connects companies with VC investors. Upon investment by a VC, CapitalPitch will contribute additional capital at the seed and Series A stages, up to 15% of the VC commitment.

LPs to invest in the fund so far include the Tulla Group - the investment office of the Maloney family - and angel investor Trevor Folsom's Investible Asia. CapitalPitch is also seeking investments from a pension fund and additional foreign investors.

Founded in January 2015, CapitalPitch aims to make it easier for entrepreneurs to find suitable venture backers and for GPs to evaluate potential investees. Its web platform includes an evaluation questionnaire for start-ups, templates for creating pitches and tools for promotion, building back-end resources and selecting investors. Start-ups that list on the platform must be able to generate revenue. The company claims to have nearly 1,400 start-ups on its platform, nine of which have raised A$13 million in total from VC investors introduced by CapitalPitch.

Australia's government announced a string of tax incentives for early-stage investors earlier this year to encourage entrepreneurship in the country. The measures include a reduction in the holding period needed to qualify for capital gains tax exemption and an increase in the maximum fund size for new early-stage investors from A$100 million to A$200 million.

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• Topics
• Australasia
• Technology
• Fundraising
• Venture
• Early-stage
• Australia
• seed