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 Partner & Managing Director
| BSc(Hons), MSc, PhD | Location: Sydney, AU
Dr Michelle Deaker is a Founding Partner & Managing Director of OneVentures and has been primarily responsible for the foundation of OneVentures firm and capital raisings of OneVentures Funds. The firm now has over $700M in funds under management. Michelle serves on the investment committee of OneVentures three main Funds, leads the technology practice within the firm and is responsible for investor relations managing the supervisory boards of OneVentures funds.
Michelle has over 20 years experience in the development of high growth technology companies in Australia and the US, has served on the boards of large and small listed and unlisted companies and has a strong background in Australian R&D and expertise in global business expansion. She has negotiated technology transfer contracts with research institutions; established financing syndicates with Australian, Asian and US investors; chaired the boards of several high growth companies; supported early breakthrough commercial contracts; leveraged her extensive networks for the benefit of OneVentures companies; and negotiated both financing and exit transactions.
Michelle established OneVentures in late 2006, coming into the venture capital industry as a successful IT industry business owner, entrepreneur and subsequently angel investor. The Company she founded in 1999, E Com Industries (www.giftvouchers.com), became the leading prepaid card and electronic voucher provider in Australia, servicing over 100 major retail brands including Coles Myer and Woolworths, managing $700M in Australian retail liability and eventually expanding operations into the United Kingdom, South Africa and New Zealand. E Com was acquired by UK publicly listed company, Retail Decisions, in 2005, in a transaction returning to investors 4.6x capital and an average IRR of 70%. Notably, E Com industries was one of only a handful of Australian companies that successfully migrated the dotcom boom and crash through to a successful outcome for investors. Prior to E Com Industries, Michelle established IT enterprise business, Networks Beyond 2000.
Michelle holds a Bachelor of Science (Honours 1st class), Master of Science and a PhD (Applied Science). She is a member of the Australian Institute of Company Directors and Chief Executive Women (CEW).
Nigel Dews
Operating Partner
| BEc (Hons), MBA | Location: Sydney, AU
Nigel Dews is an Operating Partner at OneVentures and leads the Technology team within the firm. Nigel is a digital revolutionary, having been an Executive Leader in the digital media, technology and telecommunications industries for 20+ years.
Nigel is renowned for his experience as both a strategic consultant and a proven entrepreneur. He has experience as a start-up CEO as well as a strong history within large multinationals: providing critical leadership to pivot into the digital landscape.
Nigel was born in NZ, grew up in Australia and has also lived across both the US and Europe. Wherever he is in the world though, he loves the outdoors – with a bias towards Central Otago. Whether he’s hiking, running or catching a wave with his family, Nigel rarely stops moving when he’s out of the office.
Nigel joined OneVentures to predominantly to work with our digital and technology-based portfolio businesses. He currently serves on the Investment Committee of the OneVentures Growth Fund V, advises the Fund IV team and works extensively with our portfolio companies.
Nigel is a highly experienced executive, consultant and has board responsibilities as a Director with OneVentures portfolio companies Lumary, Kepler Analytics, Flippa and SourseAI.
Nigel has been a leader in the digital media, technology and telecommunications industries as CEO of Vodafone Hutchison Australia, 3 Mobile, and the first Chief Executive of the Fairfax Media digital business. More recently, Nigel was CEO of Melbourne-based technology scale-up, Message Media, leading the strategy development and execution to rapidly grow via organic sales acceleration, acquisitions, new products and geographic expansion, attracting private equity and leading to an eventual trade sale.
Nigel initially worked at the Reserve Bank of Australia, spent five years in strategy consulting with McKinsey & Company before moving into leadership positions in the emerging category of digital media.
He built and led the start-up of Fairfax Digital for its first seven years, taking it through to break-even. He led the building of a diverse portfolio of organically grown, joint ventured and acquired digital businesses.
Nigel has held notable leadership roles including CEO of Hutchison Telecoms Australia (HTA) and 3 Mobile, leading the merger and integration of 3 with Vodafone, remaining as CEO of the merged entity for its first 3 years.
After starting-up European border mobile network enabler Hue in the UK, Nigel returned to Sydney and joined strategy consultants Port Jackson Partners as a Director and shareholder leading strategy projects across a range of industries in Australia, New Zealand, United Arab Emirates and United Kingdom. This included work with CEOs of fast growing digital businesses, digital and technology strategies, media, infrastructure, agriculture and international growth initiatives.
Nigel joined Message Media in 2017 to scale-up and transform the business from a single region, single product, single shareholder business via a substantial investment in technology, people, new processes and platforms, and acquisitions, culminating in a significant private equity investment and founder exit. He is also a founding partner of GNG Partners, a boutique growth strategy consulting firm.
Portfolio Board Roles
Nick Gainsley
Partner
| BSc(Hons), AMCT | Location: Sydney, AU
Nick Gainsley is a Partner at OneVentures and leads the Growth Credit practice of the firm. Nick is committed to ensuring that companies in Australia can access alternative forms of capital by bringing his extensive global experience with debt and financing to the local market.
As one of the leading pioneers of Growth Credit in Australia, Nick is in high demand as a keynote speaker and conference panellist. He regularly appears in the media as an expert on Growth Credit and alternative debt financing. For media and speaking enquiries, please contact us.
Nick is a keen skier and loves to travel the world – with his young family in tow. Being a Brit he used to long haul and is looking forward to the direct Sydney-London flight in the coming years. He loves to ski steep off-piste terrain however he’s been forced to recalibrate to “family friendly” black runs.
Nick brings over 15 years of debt experience both in direct lending and advisory, in Europe and Australia. He has nearly 10 years of Growth Credit experience having led investments to over 100 high growth technology companies across 11 countries.
At OneVentures, he serves on the Investment Committee of the 1V Venture Credit Fund IV and the OneVentures Growth Fund V.
Prior to joining OneVentures in May 2019, Nick was based in the UK and was a Principal at Kreos Capital (now part of Blackrock), Europe’s largest growth debt fund. His experience there covered deal origination, execution and portfolio management for a significant number of transactions across European markets. He has wider sector experience across technology sub-sectors including FinTech, software, cyber security, hardware, e-commerce/DTC, AdTech and life science, investing in both private and public companies.
Prior to this Nick was a Manager at KPMG in London within its Debt Advisory team, where he was involved in managing and advising on a range of debt transactions from mid-market to large cap. Transaction experience covered leveraged finance, corporate refinancing, capital market issuance and strategic financing advice.
Nick is currently a mentor at Stone & Chalk and the AIC women mentorship programme.
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
| BComm, CFA, CA | Location: Melbourne, AU
Justine is an Investment Director at OneVentures and is responsible for the new Victorian Growth Fund, focusing on providing Venture Credit to Victoria’s most exciting start ups.
Justine returned to Australia in late 2021, after 3 years working in Tokyo advising life science and beauty companies on cross border M&A. She brings her wealth of knowledge in M&A Advisory, her passion for entrepreurship and her experience with capital raising to the Venture Credit team. She is a valued advisor and is driving the awareness and adoption of Venture Credit (also known as venture Debt) in the Australian market.
Justine leads the investment team for the Victorian Growth Fund. She is responsible for identifying and assessing potential investments, promoting the Fund and managing the partnership with the Victorian Government and other stakeholders. She is passionate about investing in startups and growth companies generating jobs and innovation for Victoria and broader Australia, and pursuing ideas that will benefit Australians.
Justine holds a Bachelor of Commerce from the University of Melbourne, majoring in Accounting and Finance. Justine is a Chartered Accountant and Chartered Financial Analyst. In her spare time, she has pursued qualifications in viticulture and wine, and recently completed Wine & Spirits Education Trust – Level II in Wine.
Jay Chiu
Investment Director
| B. Eng (Hons), M. Com (Finance) | Location: Sydney, AU
Jay focuses on growth equity investments in later-stage tech companies, particularly in B2B SaaS, supporting transformative founders building for the future.
He is excited about innovative companies with robust business models that enhance customer value, redefine industries and bring about productive changes. He has seen firsthand how companies evolved during the digital revolution and looks to apply that knowledge to help our portfolio companies thrive during their next phase of growth.
His role includes identifying and evaluating investment opportunities, backing ambitious leaders with a sound understanding of business metrics and their customer. He supports our portfolio companies with their business model analysis, research, strategic planning, and problem-solving to help them scale into new markets. With extensive experience researching businesses and their financial models, Jay works closely with CFOs to unravel financial complexities.
Jay has global growth equities investment experience. Previously Jay worked as a buy-side analyst for a boutique Australian equity fund manager focused on high conviction, long-term growth strategies researching and developing the strategy for the portfolio. Jay has also worked in portfolio management and sell-side largely focused on technology for major investment banks including CITIC Securities (HK), HSBC (UK, HK) and Goldman Sachs (UK).
Jay received his Bachelor of Engineering (Hons) in Software and a Master of Commerce majoring in Finance from the University of New South Wales in Sydney, Australia.
Jay works with transformative technology companies like Lumary, Kepler Analytics, Flippa and across our growth equity portfolio.
Matthew Lewin
Investment Associate
| BCom/BAdvStudies | Location: Sydney, AU
Matt Lewin is an Investment Associate on OneVentures’ Growth Fund V. Matt is energetic about supporting Australian founders and companies on their growth journey any way he can.
Prior to OneVentures, Matt has had experience in MA Financial Group, one of Australia’s leading investment banks covering technology. In addition to this, Matthew has investment experience at Tier 1 firms such as Perpetual, and VGI Partners – focusing on long-term horizon technology investing, ESG investing, and company analysis.
Outside of tech and investing, Matt’s passion lies firmly with history, philosophy, psychology, and economics. These topics are the intersection of human action – that is, exploring why we act, how we act, and why we act how we act. As an investor, it is crucial to understand the actions of oneself and others in a broad, multidisciplinary context.
Matt brings his experience across equity management and investment banking, as well an insatiable curiosity for innovation across all sectors.
At OneVentures, he helped source and supported the execution of three Fund V equity investments, in addition to ten venture credit investments.
Matt joined OneVentures in 2021 as an Investment Intern, supporting the investment teams across venture credit and equity in across the whole deal lifecycle: deal-sourcing, company analysis, and due-diligence. Since being promoted to Investment Analyst, he has continued to be an asset to the team in many ways – not only supporting the team, but also providing insight and shared learnings for the broader organisation.
Prior to joining OneVentures, Matt completed internships across investment banking (Moelis Australia) and equity management (VGI Partners, Perpetual), focusing on long-term horizon technology investing, ESG investing, and company analysis. Matt received a BCom/BAdvStudies, majoring in Finance and Banking from the University of Sydney – receiving the University Academic Merit Prize.
Joanna Yue
Investment Associate
| LL.B., BComm (Finance), MIM | Location: Sydney, AU
Joanna focuses on growth equity investments in high-quality Aussie and New Zealand scale-up technology businesses that benefit society and are ready to accelerate to the next phase of growth.
She is excited about ground-breaking technological innovations. She loves working alongside visionary startup founders and is committed to helping them turn ideas into reality.
Joanna spends her time working with exceptional founders, learning about their vision and unique ideas, and helping them shape how businesses and communities connect and operate. She supports the Growth Equity team throughout the deal lifecycle, including deal sourcing, company analysis and due diligence. She undertakes various quantitative and qualitative projects and monitors both existing and prospective fund investments
Before joining OneVentures, Joanna gained valuable experience as a consultant at McKinsey & Company’s Melbourne office, where she supported strategic and operational projects across banking, consumer goods and automotive sectors for both public and private clients. She has worked in France & Singapore with impact-driven VC Funds including Wavemaker Impact, a leading Asian VC ClimaTech venture builder. She has played a pivotal role in developing an AgriTech startup focused on reducing carbon footprint in Southeast Asian rice cultivation, from assessing potential opportunities to designing viable business models.
Joanna received a Bachelor of Laws and Commerce (Finance) from Monash University and a Masters in Management degree from INSEAD. She is admitted to the Supreme Court of Victoria and has practiced law in the private health insurance sector at the Australian Prudential Regulatory Authority.
Joanna works with transformative technology companies across our growth equity portfolio, including Employment Hero, Lumary, and Flippa.
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
Dr Michelle Deaker
Founding Partner & Managing Director
| BSc(Hons), MSc, PhD | Location: Sydney, AU
Dr Michelle Deaker is a Founding Partner & Managing Director of OneVentures and has been primarily responsible for the foundation of OneVentures firm and capital raisings of OneVentures Funds. The firm now has over $700M in funds under management. Michelle serves on the investment committee of OneVentures three main Funds, leads the technology practice within the firm and is responsible for investor relations managing the supervisory boards of OneVentures funds.
Michelle has over 20 years experience in the development of high growth technology companies in Australia and the US, has served on the boards of large and small listed and unlisted companies and has a strong background in Australian R&D and expertise in global business expansion. She has negotiated technology transfer contracts with research institutions; established financing syndicates with Australian, Asian and US investors; chaired the boards of several high growth companies; supported early breakthrough commercial contracts; leveraged her extensive networks for the benefit of OneVentures companies; and negotiated both financing and exit transactions.
Michelle established OneVentures in late 2006, coming into the venture capital industry as a successful IT industry business owner, entrepreneur and subsequently angel investor. The Company she founded in 1999, E Com Industries (www.giftvouchers.com), became the leading prepaid card and electronic voucher provider in Australia, servicing over 100 major retail brands including Coles Myer and Woolworths, managing $700M in Australian retail liability and eventually expanding operations into the United Kingdom, South Africa and New Zealand. E Com was acquired by UK publicly listed company, Retail Decisions, in 2005, in a transaction returning to investors 4.6x capital and an average IRR of 70%. Notably, E Com industries was one of only a handful of Australian companies that successfully migrated the dotcom boom and crash through to a successful outcome for investors. Prior to E Com Industries, Michelle established IT enterprise business, Networks Beyond 2000.
Michelle holds a Bachelor of Science (Honours 1st class), Master of Science and a PhD (Applied Science). She is a member of the Australian Institute of Company Directors and Chief Executive Women (CEW).
Maria Baas
Investor Relations Director
| BA HR & Industrial Relations, Grad. Cert. Finance, Dip. Financial Planning | 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.
Mariam Ghaly
Investor Relations Associate
| Location: Sydney, AU
Mariam is the Investor Relations Associate at OneVentures, providing a first point of contact for investors, managing these relationships and supporting the wider Investment Relations Strategy. She develops best practices to improve service quality and productivity.
Mariam has embarked on a diverse professional journey with a passion for finance, humanitarian aid, and culinary arts. Prior to joining OneVentures, she worked for CMC Markets, a renowned financial services provider and CommSec, a division of Commonwealth Bank, where she gained valuable experiences in the financial industry, working with a diverse range of clients and assisting them with their investment needs. She also made noteworthy contributions to the Apex Fund Services in the investor services team, managing and handling escalations from both internal and external stakeholders.
Alongside working at OneVentures, Mariam is studying a Bachelor of Humanitarian and Development Studies – majoring in Psychology at Western University. She brings her knowledge, skills, and passions to contribute meaningfully to society and her role at OneVentures.