Fund profile
1V Growth Fund VII
Following on from the success of our earlier equity funds covering technology, Fund I, II and V, Fund VII provides opportunities for investors to back purposeful, transformative technology businesses, applying our operational and executive excellence to accelerate their growth and launch them into global markets.
This fund is intended for wholesale investors only. By proceeding, you confirm that you are a wholesale investor as specified by ASIC.
The Fund
Venture Equity Financing for Transformative Technology Companies
Fund VII builds on the success of our earlier funds, which have consistently delivered strong returns. Our multiple for Fund I was 10X (TVPI 8.2x) for private investors with this fund now fully realised. Fund II is currently held at 5X money (TVPI 4.2x) to investors and realised 1.5x capital to date. Fund V, final close in 2022, is already in profit. The results, underscore our commitment to generating returns to our investors. We are raising up to $200M for this fund, which will leverage our relentless focus on providing hands-on strategic and operational support to our portfolio companies to take them on the journey to an institutional grade growth business.
Growth equity is underserved in the Australian market and has a better risk- adjusted return profile to early stage venture capital. We have seen a gap in the market where established high-quality technology companies cannot secure growth capital within the traditional VC channels or aren’t yet on the radar of PE or global growth funds. Fund VII will capture the opportunities within this gap in the Australian market, investing in 8 to 10 ambitious technology companies that have demonstrated significant potential but need growth capital to accelerate and support their expansion in global markets. These companies offer strong potential for returns by benefiting from our operational approach focus and the advantage of less competition and favourable valuations.
It’s also an attractive time to be investing in growth equity. The market has gone through a correction, companies have become more efficient and disciplined, valuations have reset back to 2016 levels with terms favourable to investors creating the potential for a vintage fund. There continues to also be excellent tailwinds for global growth thematics.
Benefits to investors
Lower Risk with Better Risk-adjusted Returns
Similar target IRR to traditional venture capital with lower volatility
Deep Networks
OneVentures is very well-known in market. The firm has deep connectivity into the technology ecosystem
Competition and Favourable Valuations
The market is underserved in Australia with generally improved multiples as companies move offshore into larger markets
Returns Driven by Revenue Growth and Operational Improvements
Sustainable growth through operational excellence and revenue, ensuring returns without relying on leverage
Shorter Investment Horizon and Stronger Exit Rights
At this later stage, we expect the fund to move into profitability more quickly and for investment to turnaround in a 3-to-5-year timeframe
Transparent and Repeatable Investment Processes
For sourcing, screening, analysing, investing and managing fund opportunities. We leverage some of the newest technologies available through Ai to monitor opportunities both emerging or for analysing our portfolios.
Investment Thematics
ONGOING DIGITISATION OF THE ECONOMY & INDUSTRY
AI DISRUPTION & AUTOMATION
FOCUS ON WELLNESS & HEALTH TECHNOLOGY
TREND TO NET ZERO & ENERGY TRANSITION
DIGITAL TOKENISATION OF ASSETS
Expert Team: Hands-on Approach
As experienced investors, entrepreneurs and board directors, our team have helped create Nasdaq and ASX listed companies, realising returns to investors of over $1bn.
Fund Partners & Investment commitee
Dr Michelle Deaker
Founding & Managing Partner
| Location: Sydney, AU
Michelle is a Founding Partner and the Managing Partner at OneVentures. She serves on the investment committees of OneVentures funds and has led the capital raising activities for the firm. Her focus today is in the technology growth practice, though she has also worked extensively across both healthcare and technology investments.
With over 25 years of experience building and investing in high-growth technology companies in Australia and the US, she has a proven track record in global business expansion and Australian R&D. Michelle has led or co-led and been a Director of key investments in companies such as Employment Hero ($2B valuation, 13x ROI, Returned 1.5x Fund II), Phocas (10x EV growth), Smart Sparrow (acq. Pearson Learning), My Mobile Data (acq. ASX: AYS); Hatchtech (Lic. to NYSE: RDY) and unicorn Vaxxas. She chaired the board of Employment Hero until December 2023 and continues to serve on its board, as well as the boards of Phocas and Buildkite.
A current member of the Reserve Bank of Australia’s Payment Systems Board, Michelle is also a former board member of Australia’s National ICT Centre of Excellence (NICTA, now Data61), Seven West Media (ASX: SWM) and served on the NSW Government’s Digital Economy Taskforce.
In the lead up to founding OneVentures, Michelle worked for a leading family office on their alternative investments, served as an entrepreneur in residence at Southern Cross Venture Partners and was an angel investor. Prior to her investment career, Michelle was a business entrepreneur and founder, including one of Australia’s first fintech companies, E Com Industries (www.giftvouchers.com) (acq. LSE: ReD, 4.6x, 70% IRR), IT services business, Networks Beyond 2000 and a tertiary tutoring business.
Michelle is a member of the Australian Institute of Company Directors and Chief Executive Women (CEW). She was a founding advisory board member of Head Over Heels (now Apropela), supporting women entrepreneurs, and served on the advisory board of the Indigenous fund Ochre Ventures.
In addition to these roles, she lectures in the Australian Investment Council’s Foundations of Private Capital Venture Capital Course and is a Co-Founder of WinVC, a non-profit women-led initiative supporting the career trajectory of women investors in venture capital.
Michelle holds a Bachelor of Science (Honours), a Master of Science and a PhD in Applied Science.
| BSc(Hons), MSc, PhD
Bevin Shields
Partner
| Growth Equity
| Location: Sydney, AU
Bevin leads OneVentures’ growth technology investment strategy for Fund V and Fund VII and serves on their Investment Committees.
With over 20 years of experience in technology investing, M&A and capital markets, Bevin provides strategic guidance to portfolio companies and sits on the boards of Lumary and MyPass. He specialises in driving growth through acquisitions, organic expansion and operational excellence.
Before joining OneVentures, Bevin was a Partner at Bailador Technology Investments, where he led growth-stage technology investments across Australia and New Zealand. During his tenure, Bailador achieved nine successful exits, delivering over $250 million in returns at an average 3.1x CoC and 25% IRR. Key investments included Rezdy, RC TopCo, Standard Media Index and Updoc.
Prior to that, Bevin was Head of M&A at Catapult Group, where he led acquisitions that expanded the company’s scale and market presence globally and secured over $150 million in financing. Earlier in his career, he was a graduate analyst in corporate finance at Deloitte and a vice-president in investment banking at the Royal Bank of Scotland, advising emerging companies across capital markets and M&A.
Bevin graduated with a Master of Commerce from the University of Sydney and is a Member of the Australian Institute of Company Directors.
| MCom, USYD BCom, USYD
Nigel Dews
Operating Partner
| Growth Equity
| Location: Sydney, AU
Nigel is an Operating Partner in the Technology team at OneVentures, supporting portfolio companies in the Growth Equity Funds with over 25 years of international experience in management consulting, startup leadership and scale-up execution.
He serves on the Investment Committees for Growth Fund V and VII, is Chair of Kepler Analytics, sits on the board of Flippa, and was previously on the board of Lumary and MyMobileData.
Nigel is a Founding Partner and Chair of GNG Partners, a boutique growth strategy consulting firm that combines operating leadership and top-tier consulting experience to collaborate with OneVentures’ portfolio companies to develop Growth Acceleration Plans.
Before joining OneVentures, Nigel held significant executive roles, including CEO of Vodafone Hutchison Australia, 3 Mobile and Fairfax Digital. As CEO of Message Media, he led its rapid growth through acquisitions, product innovation and geographic expansion, resulting in a $1.8B exit in 2021.
He began his career at the Reserve Bank of Australia and spent five years at McKinsey & Company, consulting across the USA, UK, Australia and New Zealand and later as a Partner at Port Jackosn Partners. Nigel played a pivotal role in launching Fairfax Digital, led the Hutchison-Vodafone Australia merger and led a tech infrastructure start up in the UK.
Nigel holds an Honours degree in economics and an MBA from London Business School.
| BEc (Hons), MBA
Portfolio Board Roles
Nick Gainsley
Partner & Director
| Growth Credit
| Location: Sydney, AU
| BSc(Hons), AMCT
Walter Lewin
Chairman, Board of Directors
Mr Lewin is Chair of the Board and Investment Committee for OneVentures Pty Ltd. He is a member of the Advisory Board of VGI Partners, a leading global investment firm based in Sydney and New York. Mr Lewin was a founding shareholding and Chair of the Advisory Board of OneVue (ASX: OVH) and was a founding shareholder and Executive Director of Reverse Corp (ASX: REF). Previously, he was a Managing Director of Ord Minnett and member of its Group Management Committee, a Principal of Elysium Capital Partners in London, a Managing Director (Equities) for Merrill Lynch in London after holding several positions in the Equities and Investment Banking divisions of SBC (now UBS) in London and SBC Dominguez Barry (now UBS) in Sydney.
Mr Lewin received a Bachelor of Commerce (First Class Honours) and a Bachelor of Laws (Honours) from University of Queensland. He was a visiting lecturer in business finance at the Queensland Institute of Technology. He received the Baillieu Research award in 1989.
Growth Equity Team
Justine Carzino
Investment Director
| Location: Melbourne, AU
| Growth Equity & Growth Credit
Justine is responsible for identifying investment opportunities in Victoria and supporting portfolio deals based in the region across both Growth Equity and Credit. She leads the OneVentures Victorian Growth Fund (VGF), which invests in the state’s most promising scale-up companies.
As a Board Observer and investor, Justine works closely with portfolio companies such as XYSense, Drawboard, AmazingCo and 6clicks.
Justine has over 15 years experience working with growth stage companies across capital raising, M&A and capital management. Previously, Justine was a Senior Vice-President at Deloitte Corporate Finance in Tokyo, leading domestic and cross border transactions. Originally from Melbourne, she returned to Australia in 2021, bringing extensive M&A experience and strong local networks.
Justine holds a Bachelor of Commerce from the University of Melbourne, majoring in Accounting and Finance. She is both a Chartered Accountant and a Chartered Financial Analyst.
| BComm, CFA, CA
Jay Chiu
Investment Director
| Growth Equity
| Location: Sydney, AU
Jay identifies and analyses growth equity investment opportunities while supporting portfolio companies with research, strategic planning and problem-solving to help them scale into new markets.
He collaborates with CFOs and leadership teams to simplify financial complexities and drive growth and serves as a Board Observer for Lumary, Kepler Analytics and Flippa.
With over 15 years of global equities experience specialising in high-conviction, long-term growth strategies, Jay began his career as a software engineer, and has held roles in risk modelling, portfolio management and public equities focused on technology at CITIC Securities (HK), HSBC (UK, HK), and Goldman Sachs (UK). He was also a buy-side investment analyst for a boutique global equities fund manager.
Jay holds a Bachelor of Engineering (Hons) in Software and a Master of Commerce in Finance from the University of New South Wales
| B. Eng (Hons), M. Com (Finance)
Matthew Lewin
Investment Associate
| Growth Equity
| Location: Sydney, AU
Matt focuses on growth equity investments in technology businesses for Fund V and Fund VII.
He supports deal sourcing, analysis and due diligence and works with portfolio companies like Lumary, Flippa and Buildkite.
Since joining OneVentures in 2021, Matt has contributed to both the venture credit and equity teams. Now an Investment Associate, he has played a key role in sourcing and executing growth equity investments.
Before OneVentures, Matt gained experience at MA Financial Group, Perpetual and VGI Partners, focusing on technology investing, ESG and company analysis.
He holds a Bachelor of Commerce and a Bachelor of Advanced Studies from the University of Sydney, where he received the University Academic Merit Prize. He earned a Master’s in Neuroscience from the University of Sydney, completing a thesis on using “digital twins” to augment operational decision-making in complex systems such as mental health clinics.
| BCom/BAdvStudies/MSci
Joanna Yue
Investment Associate
| Growth Equity
| Location: Sydney, AU
Joanna focuses on Growth Equity investments, supporting deal sourcing, analysis, due diligence and monitoring portfolio investments
She works closely with portfolio companies, including Employment Hero, Lumary and Flippa.
Before joining OneVentures, Joanna was a consultant at McKinsey & Company’s Melbourne office, where she worked on strategic and operational projects in the banking, consumer goods, and automotive sectors for public and private clients. She gained international experience in Singapore with Wavemaker Impact, a leading Asian ClimaTech VC venture builder, where she helped develop an AgriTech startup aimed at reducing the carbon footprint of Southeast Asian rice cultivation by assessing opportunities and designing viable business models.
Joanna holds a Bachelor of Laws and Commerce (Finance) from Monash University and a Master’s in Management from INSEAD. She is admitted to the Supreme Court of Victoria and previously practiced law in the private health insurance sector at the Australian Prudential Regulatory Authority.
| LL.B., BComm (Finance), MIM
Target Companies
Key criteria
- Technology or tech-enabled company with strong product market fit and loyal customer base
- Experienced team with strong management or ability to expand through OneVentures networks
- Large total addressable market for expansion of multiple
- Focus on Australia, NZ, or with a strong Australian angle / substantial R&D in Australia
- Attractive entry pricing that values our expertise to unlock major growth levers
- Favourable exit opportunities
- Value supported by IP, differentiated, recurring revenue, working capital, cash flow, can grow sustainably
- Size: $200M (up to $250M at manager’s discretion)
- Target Return: 3 to 4x cash on cash, IRR 25-30% Term of Investment: 10 years (5-year investment period + 5-year realisation period)
- Management Fees: 2% of Committed Capital (Yr 1-5), 2% of Deployed + Reserved Capital (Yr 6-10), c.1.5% p.a. over fund life
- Performance Fees: 80% Investors / 20% Manager (6% Hurdle and Manager Catch Up)
- Minimum Investment: $500K for HNWs, $1M family offices, typically $5 to 10M for large family offices and $10M for institutions (or at discretion)
- Drawdowns: Capital is called progressively over the first five years
- Liquidity: Redemption at manager discretion
Investment Terms
We believe that the world’s most transformative companies will be those that benefit society.
OneVentures follows ESG guidelines and is a signatory to the UN PRI (Principles of Responsible Investment). From investment selection, management and reporting, the team has regard to the UN PRI. OneVentures investments in technology and healthcare are low risk from an ESG point of view and indeed the firm’s philosophy of creating outcomes with strong societal benefits as well as economic benefits has been long term and is aligned to UN Sustainable Development goals. Example companies include Vaxxas (Vaccine micro-array patch replacing needles for vaccination); Phocas (Helping enterprise unlock and manage their data), Employment Hero (Improving the world of work); and Edrolo (a better interactive way to educate in schools). The firm is committed to educating its portfolio on ESG matters through its influential role on the boards of its companies and implementing improvements. The firm’s work led to the creation in 2023 of an industry standard platform for company monitoring adopted by the Australian Investment Council. OneVentures has also been recognised by the Responsible Investment Association of Australasia (RIAA) as a Responsible Investment Leader in their 2021 Benchmark Report.
Get In Contact
Maria Baas
| Investor Relations Director
Investor Relations Team
Chris Briggs
Head of Distribution
| Location: Melbourne, AU
Chris is Head of Distribution at OneVentures, overseeing the firm’s fundraising and investor relations activities.
Chris brings over 25 years of sales experience in financial services across Australia and Europe. He has worked closely with institutional and wealth clients across a diverse range of asset classes spanning both private and public markets. This has given him valuable insight into clients’ portfolio construction needs, and he is passionate about delivering solutions that address them.
Before joining OneVentures, Chris was Managing Director, Business Development at Pacific Current Group, where he worked with several of the company’s globally based affiliated fund managers on distribution in the APAC region. Prior to that, he led Nikko AM’s Institutional Business in Australia.
Chris spent 10 years at Goldman Sachs, starting in fixed income credit sales in the UK, later moving to Australia and focusing on funds management distribution.
Chris holds a Meng degree in Engineering from Cambridge University and serves on the Cambridge Australia Scholarships Investment Committee.
| MEng (Engineering)
Maria Baas
Investor Relations Director
| Location: Sydney, AU
Maria Baas is the Investor Relations Director at OneVentures. She is responsible for developing, managing investor relationships and implementing Investor Relations strategy and helping to build out the firm’s Investor Relations capability in the Australian market.
Maria joined the team from Macquarie Group where she was developing strategic relationships with external stakeholders in the Corporate and Asset Finance division. Prior to that Maria worked at UBS Asset Management where she was responsible for key client relationship management and institutional business development across industry super funds, insurance firms, large corporates and consultants. Maria also held various roles in financial planning and funds management with AMP Capital and AMP Limited more broadly. She started her career in HNW boutique wealth management firm as the Client Relationship Manager.
Maria holds a Bachelors Degree in HR and Industrial Relations from the University of Sydney. Additionally, she has completed a Graduate Certificate of Finance at Macquarie University and a Diploma of Financial Planning.
| BA HR & Industrial Relations, Grad. Cert. Finance, Dip. Financial Planning
Sophia Hudson
Investor Relations Associate
| Location: Sydney, AU
Sophia is an Investor Relations Associate, responsible for servicing investor relationships and supporting fundraising activities.
She has three years experience in Investor Relations having worked at Golub Capital and Capital Group in the UK where she helped develop and manage investor relationships across the retail and institutional markets. Prior to this, Sophia started her career on the Berenberg Investment Banking Graduate Program.
Sophia holds a Bachelors Degree in Economics from the University of Edinburgh.
| BA Economics