Australia’s first dedicated fund of VC fund secondaries
We buy interests in VC funds from investors and fund managers seeking liquidity. In doing so, we access Australia’s premier VC assets at a discount, delivering superior risk-adjusted returns in faster timeframes.
Flexible fund liquidity
We offer liquidity to VC investors and invest alongside managers, tailoring each transaction to ensure we deliver value to all parties
Differentiated
We are a specialist fund secondaries investor. We primarily acquire LP and GP stakes and portfolios, and make selective commitments to new funds, creating exposure to best-in-class VC assets
Trusted
We value our reputation and put relationships first. Sellers and fund managers view us as a preferred partner and trusted counterparty that engages fairly, efficiently, and confidentially
Rigorous
We conduct a thorough, bottom-up assessment of each opportunity. Our expertise and relationships are our edge, helping us source, assess, and execute transactions effectively
Invest in Australia’s best
We buy into leading Australian VC firms across multiple fund vintages
Creating exposure to Australia’s very best technology companies
Venture with confidence
Unlock a curated portfolio of premier VC assets with a single investment
Better returns
Access premier VC assets in closed funds, investing with the benefit of hindsight to pick-and-choose assets at fundamental prices while avoiding or discounting out weaker performers
Lower risk
Diversify across funds and vintages to skip early uncertainty and acquire VC assets that are already doing well, reducing the risk inherent to one stage, sector, technology, or time in the cycle
Faster liquidity
Receive faster and more predictable cash returns than in a direct fund, as secondaries portfolios stream distributions as older fund vintages progressively exit their portfolio companies
Forward thinking
We uncovered a lack of liquidity in Australia’s VC market and set out to solve it
Max is a VC investor, advisor, startup operator, and community builder. He’s been investing in VC since 2020, both at Tidal Ventures where he helped deploy over $20M, and as an angel. He is also a co-founder of the J Combinator tech community. He’s previously worked in a VC backed startup and in advisory roles at Bain & Company and Vesparum Capital.
Andrew’s 40-year technology career provides unique insight into growth stage investments and exit markets. He’s been a company founder, CEO, and senior leader with over 10 exits in his nearly 30 years in the US. Now back in Melbourne, he serves as Operating Partner at the University of Melbourne and at US-based technology PE firm PeakEquity.
Lisa brings over a decade of multi-faceted local VC investing experience, spanning corporate venture, venture debt, and impact investment. She is currently Head of Impact Investing at Save the Children Global Ventures. Previously an equity researcher, she brings sound investment judgment and a passion for mission-driven innovation.
Alon’s extensive experience and deep networks as a VC investor and fund manager, contribute to the fund’s governance, operations, investments, and fundraise. He is the Founder and Managing Partner of Mind Ventures and was previously a Partner at Jelix VC, and is a former corporate lawyer with experience in both Australia and Israel.
Unique thesis, real advantage
Broad diversification. Quality concentration. Discounted access. Faster liquidity.
Diversify across companies
Most startups fail. The top 20% deliver ~5-10x, and only the top 2% outliers deliver 100x or more. VC funds follow a similar pattern; most underperform unless they can access these rare breakout winners.
We diversify across VC portfolios to capture the outsized returns driven by top companies and lower risk from inevitable failures.
Diversify over time
VC markets are volatile. About 80% of returns come in just 20% of vintage years. Performance is impacted by economic conditions and ‘hype cycles’ for some technologies and sectors.
We invest across fund vintages to make sure investors don’t miss out on where value is ultimately created, creating cyclical resilience.
Shorten fund duration
VC returns take 10-15 years or more and follow a ‘J-curve’. Losers are found first, winners later, and the extent of the winners last. The last 20% of a fund’s life produces almost 50% of the return.
We skip some early risk, buying into funds that are already doing well in their best returning years and cutting the time to realise cash returns.
Concentrate into winners
Traditionally, diversifying into more assets dilutes portfolio quality. In secondaries, investors can buy the same assets repeatedly, and top companies form an outsized share of the portfolio as funds mature.
We naturally concentrate into top performers as they grow, and double down on winners we already know across multiple funds.
Buy on sale
As VC funds age, investors and managers may seek liquidity in order to cash out, rebalance portfolios, or deal with changes in circumstances. Selling at a discount is the trade-off for this flexibility.
We acquire these secondary interests at discounted prices in return for providing liquidity, accessing top assets at fundamental prices.
Invest with edge
Fund secondaries are an inefficient market with many sellers and few buyers who can value portfolios. Fund valuations can be stale and fund managers may restrict the buyer pool to avoid negative optics.
We specialise in these deals, creating an access and information advantage via our network and insight, in order to pick and choose assets with high leverage.
Questions, answered
Find out more about what sets us apart. If you’re seeking liquidity or want to invest with Advance VC’s fund, reach out below.
Get in touchAdvance VC is an independent investment firm based in Melbourne, Australia, pioneering Australia’s first hybrid VC fund-of-funds with a focus on Secondaries.
Advance VC was founded in the belief that a lack of liquidity for investors and fund managers presents an opportunity for a specialist firm, and that everyone should have access and allocation to Australia’s startup success story.
We are long-term, relationship-oriented, and positive-sum investors, driven to advance Australia’s VC ecosystem. We aspire to enlarge the market, improve its resilience, and support its dynamism.
Advance VC’s fund is open to wholesale investors only, with a $100,000 minimum investment.
Our investors include sophisticated family offices and high net worth investors, as well as the founders and senior executives behind Australia’s top startups and leading corporates.
The fund is a closed-end fund aiming to qualify as a Managed Investment Trust, which enables investors to benefit from pass-through treatment of tax benefits from underlying ESVCLP funds, primarily, capital gains tax relief on returns.
We’ve acquired secondary interests in broad range of scenarios. We look at LP stakes, GP stakes, and LP portfolios of companies or funds, acquiring the future benefits of the fund and inheriting remaining capital call obligations.
We are focused on assets that are Australian or connected to Australia, and consider interests as small as $50K and as large as $3M or more, in which case we may partner with other firms or offer co-investment to our investors.
We aim to reach an investment decision within 4-6 weeks of our initial discussion, though these timelines vary and will generally be subject to access to information and consent from the fund manager!
