NOW AVAILABLE – Now open to new investment.
EVP Fund III, LP is the third venture capital fund managed by EVP. The Fund will seek to invest in unlisted, early stage technology companies.
The Fund is seeking to raise total capital of approximately $50 million, with a minimum of $10 million. The General Partner may accept a maximum commitment of $125 million, subject to variation with IAC approval or by Special Resolution. The minimum investment in the Fund is $200,000. The Fund Manager may in its absolute discretion accept smaller amounts.
Capital calls need to be paid in full when called in accordance with the Partnership Deed, and Partnership Interests issued to Investors may be forfeited if capital calls are not met within the time frame set out in a call notice.
The Fund is an incorporated limited partnership and, subject to approval by Innovation and Science Australia, will be unconditionally registered as an ESVCLP. The Fund is not listed on any stock exchange. The term of the Fund is 2 years from the end of the Investment Period. The term may be extended by the General Partner for up to 3 successive 1 year periods by notice to Investors or by Special Resolution up to 15 years after the date of formation of the Fund (subject to the ESVCLP Rules whilst the Fund is an ESVCLP).
The Fund has a broad investment mandate, which is not limited to any particular sector, industry or business model. The Fund will seek to invest in early stage businesses with the following characteristics: