OneVentures has reached its first close with approximately $45 million after launching to investors at the end of 2018.
OneVentures is a venture capital firm which primarily invests in innovative technology aimed at solving global problems. Its venture credit was a new product to Australia.
Venture credit is an established part of funding for tech companies in places like the US and Europe according to OneVentures but new to Australia.
After the first investment the fund is poised to invest approximately $100 million over the next five years and has expanded its team to support that.