-2 C
London
Thursday, December 8, 2022

Queensland VC Sprint Ventures closes first on second $50 million fund

Must read

Who is David Scott Simon? Insight into the life of Alison Berns’ husband

David ScottSimon is the husband of an American former actress Alison Berns who is known for her work in films like Genitals (1997), The...

Rapper who bragged about Covid aid fraud sentenced to over 6 years

LOS ANGELES — A Tennessee rapper who bragged about committing aid fraud with Covid-19 in a music video was sentenced to more than six...

Pixyle AI aims to make visual search more intuitive for online retailers • londonbusinessblog.com

When Svetlana Kordumova was studying for her PhD in AI and computer vision, she became frustrated with the process of searching for items to...

Sigfox owner UnaBiz doubles its Series B financing to $50 million londonbusinessblog.com

UnaBizthe Massive Internet of Things service provider and owner of Sigfox, announced today that it has raised an additional $25 million in Series B...
Shreya Christinahttps://londonbusinessblog.com
Shreya has been with londonbusinessblog.com for 3 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider londonbusinessblog.com team, Shreya seeks to understand an audience before creating memorable, persuasive copy.

Early-stage VC firm Sprint Ventures has raised $8 million in the initial close of its second $50 million fund.

Managing Partner and entrepreneur Llew Jury said the second fund, the Expansion Capital Fund, follows the success of their first $5 million Vintage Sovereign Seed fund in 2020, which delivered a 45% return on investment.

Sprint recently invested in its 13th portfolio company, four of which with capital from its new fund.

That includes business news streaming channel ausbiz (where Startup Daily hosts a show), VAPAR, another female founder of software that uses artificial intelligence for preventive sewer inspections, and Brisbane shared payments fintech YouPay.

The judges said the dealflow pipeline is stronger than ever for Sprint’s themes of AI & automation, health, obsolescence, e-commerce, finance, real estate and energy, so they are eager to continue building the new fund with family offices. and wholesale investors.

“This means we can invest in the very best founders and their teams at the right valuations, and apply our unique Sprint investment thesis to each of our portfolio companies,” he said.

“It is important that we provide not only financial capital, but also social, experience and network capital. Founders and their teams currently need a lot of support in all areas of their business and we work closely with them to ensure they have adequate cash flow. and runway to look out for for the next 18 months and beyond. ”

The jury also appointed banking veteran Georgia Barkell as Chief Operating Officer.

Barkell has spent two decades in the financial services industry, including time at Nomura Bank, Westpac and Deloitte, and will also serve on the Sprint Investment Committee. journey,” she said,

“I am excited to be working with great people both at Sprint and within the wider VC community and look forward to continuing to grow the Sprint portfolio as we invest in the amazing founders who strive to build a brighter future. to build”.

The jury said that Sprint’s second Expansion Capital Fund is accepting investment applications from high net worth, family office investors and institutional investors seeking a 7-10 year investment horizon.

“Investors in Sprint funds have the opportunity to connect and guide the portfolio companies through Sprint’s advisory programs,” he said.

Details here.

  • Editor’s note: Startup Daily partners with ausbiz, a company with Sprint Ventures as an investor.

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

Who is David Scott Simon? Insight into the life of Alison Berns’ husband

David ScottSimon is the husband of an American former actress Alison Berns who is known for her work in films like Genitals (1997), The...

Rapper who bragged about Covid aid fraud sentenced to over 6 years

LOS ANGELES — A Tennessee rapper who bragged about committing aid fraud with Covid-19 in a music video was sentenced to more than six...

Pixyle AI aims to make visual search more intuitive for online retailers • londonbusinessblog.com

When Svetlana Kordumova was studying for her PhD in AI and computer vision, she became frustrated with the process of searching for items to...

Sigfox owner UnaBiz doubles its Series B financing to $50 million londonbusinessblog.com

UnaBizthe Massive Internet of Things service provider and owner of Sigfox, announced today that it has raised an additional $25 million in Series B...

Monash 3D printing spinout Additive Assurance raises $4.1 million for global plans

A Melbourne startup tackling the daunting task of ensuring the quality of 3D printing for aerospace, defense and advanced manufacturing has raised $4.1 million...