According to The Australian Financial Review, member-based venture capital firm Investible is halfway through raising its first VC fund of $20 million, which will be used to back early stage start-ups, as it claimed its existing portfolio was delivering market-leading growth.
Investible's co-founder Creel Price told The Australian Financial Review the four-year-old operation had so far achieved an unrealised compound return of 66.2 per cent per annum, based on its investments in start-ups such as Canva, Ipsy and Car Next Door, which he said made it one of the best in the industry.
The launch of its first fund, which has already raised more than $10 million, comes six months after it expanded to Asia, setting up an office in Singapore and recruiting talent scouts in Thailand, China and Malaysia.
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