Australia's EVP closes second VC fund at $25m

Founded in 2014, EVP aims to differentiate itself in the Australian VC space through a strong focus on corporate advice and CFO services. The firm operates a start-up advisory business that serves founders with global growth potential irrespective of whether they are portfolio companies. Services include financial modeling and developing board packs.

Fund II has made four investments to date, including athletics industry software provider Fusion Sport, customer service technology player Pendula, property sector compliance platform Uptick, and Deputy, a workforce management services company that raised $81 million late last year. It was said to be the largest Series B round ever raised in Australia.

"It is now self-evident that Australian software companies compete successfully on a global stage," EVP co-founder Howard Leibman said in a statement. "Having been on this journey with several in our portfolio, our focus for Fund II will be to identify early the next generation of Australian B2B software companies with the potential to become global category leaders."

EVP's first fund was launched in 2016 in partnership with Microequities Asset Management and went on to raise A$25 million, beating an initial target of $20 million. Both EVP and Microequities, which manages funds for high net worth individuals, contributed to the fund, with the latter committing at least A$2.8 million.

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• Topics
• Australasia
• Fundraising
• Venture
• Australia
• professional services
• Technology