The Fund was registered as an Early Stage Venture Capital Limited Partnership with Innovation and Science Australia in 2018. The ESVCLP program is designed to encourage investment in early stage innovation via a tax efficient fund structure.

The Fund targets investments in companies that have been incorporated within the last 7 years, have assets of less than $50m with the majority of its assets within Australia, and an average annual turnover less than $3m for the 2 years prior to making the investment.

Key benefits of ESVCLPs include:

• no income or capital gains tax on the disposal of eligible venture capital investments (EVCIs) and other income earned on EVCIs for limited partners and general partners who are Australian residents; and

• a non-refundable carry-forward tax offset of up to 10% on contributions made at any time to an ESVCLP.