We're delighted to announce that EVP Fund V is now live as we approach our $100 million target. We’re grateful for the continued support of our investors, and we owe an enormous thank you to the exceptional group of founders with whom we’ve partnered over the past decade.
Our approach has always been clear: back exceptional founders building mission-critical B2B software companies and work alongside them as active partners. Across our first four funds, we've invested in >50 companies, and have seen exceptional growth across this group.
"We've been fortunate to work alongside some of Australia’s most talented founding teams. Our role is to serve as active partners and to help navigate the growth journey. As these companies scale, we’re able to open doors to global growth-stage investors who are the right fit for their next chapter."
Howard Leibman, Partner
"Over 80% of Fund V commitments to date have come from existing EVP investors. Pleasingly our early investors can now recycle their distributions from Funds I and II and continue the EVP journey into Fund V. This cycle of early Fund distributions funding capital calls in later Funds underpins our LP partnerships over the long term."
Howard Leibman, Partner
The current wave of AI adoption represents a once-in-a-generation opportunity for early-stage B2B software. We're witnessing a fundamental reshaping of how businesses operate, and B2B SaaS platforms are uniquely positioned to benefit.
The pipeline we're seeing for Fund V is exceptional — companies with growth rates well ahead of historical benchmarks, global ambitions from day one, and founders who deeply understand their markets and target customers.
"The quality and velocity of AI-first B2B software companies we're seeing today represents a generational opportunity. Fund V positions us to continue partnering with the region’s most ambitious founders building the next generation of B2B software."
Howard Leibman, Partner
In Fund V we maintain the disciplined approach that has served our investors well over multiple cycles: a concentrated portfolio of 10-15 high growth companies at the Series A stage, meaningful ownership stakes, and an active partnership model to help our companies scale. We're capping the fund at $100 million, in line with EVP Fund IV, and consistent with our high touch, high conviction, concentrated portfolio approach.
Our typical initial investment is $3-5 million at Series A. We reserve 50% of the fund for follow on investing, to double down on our best performers and to build meaningful early ownership. Whilst we anticipate outlier outcomes across a broad number of companies, we also look for consistently solid returns across every one of our investments, and anticipate zero (or minimal) loss of capital across the portfolio.
The EVP Partners are strongly aligned with our investors, with a General Partner commitment of $15 million to Fund V. Australian investors also benefit from ESVCLP status, providing a 10% tax offset and tax-free capital gains.
Our track record has been built on the hard work of outstanding founders across companies like Ignition, Hnry, EatClub, Autograb, Ordermentum, Splose, Nexl, Deputy, Mutinex, Veridooh, and many others. We're excited to continue this journey with Fund V.
