The $50 million South Australian Venture Capital Fund will help build dynamic and innovative early-stage companies accelerate their growth to a national and global scale.
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What is the South Australian Venture Capital Fund (SAVCF)?
The South Australian Venture Capital Fund (SAVCF) is managed by Artesian Venture Partners which is Australia’s largest and most active early-stage venture capital firm.
The SAVCF is available to help build dynamic and innovative early-stage companies to accelerate their growth.
SAVCF enables innovative SA ventures to secure funding and accelerate growth into national and global markets, stimulating economic activity and job creation.
SAVCF level of support
Seed Stage
- For a limited time, a portion of the SAVC Fund is available for Seed stage investments of up to $400K per company.
- The fund is targeting 5-10 Seed stage investments into early-stage South Australian startups, which can be made with or without co-investor participation.
Series A
- The SAVC Fund will make 5-12 $2.5M investments into Series A stage startups.
- These investments will generally be follow-on investments into portfolio companies that the fund initially invested in at pre-Series A.
- The SAVC Fund may lead the Series A investment round, but this is not a requirement for all investments.
SAVCF important dates
- This funding program is ongoing.
- Register your interest here with GrantHelper.
SAVCF objectives
The SAVCF will:
- enable innovative SA ventures to secure funding and accelerate growth into national and global markets, stimulating economic activity and job creation
- strengthen the competitiveness of local early-stage entrepreneurs and companies to attract private sources of co-investment from national and international investors, and
- earn a commercial rate of return for investors commensurate with industry standards for early-stage venture capital funds.
Organisations eligible for SAVCF support
The Fund is looking to invest in high growth and export potential companies that have at least demonstrated a market for their product or service and have either commenced generating revenue or can demonstrate customer validation and evidence a path to monetisation.
Areas of interest include:
- B2B Software
- Space
- Clean Energy
- Cybersecurity
- Defence
- Agrifood
- Health and Medtech
- managing project delivery, including
- progress and financial acquittal reports, if successful.
The SAVCF will consider initial investment in high growth and export potential companies that have at least demonstrated a market for their product or service and have either commenced generating revenue or can demonstrate customer validation and evidence a route to revenue generation.
Life science and biotech companies are exempt. In such cases, the SAVCF may consider initial investment once a company has demonstrated Phase 1 clinical trial results, or the equivalent stage for a medical device.
The SAVCF will not have any restrictions in terms of sectors or industries that eligible companies may participate in but requires the company to have 50% of its assets and 50% of its staff located in South Australia during a period that ends 12 months from the initial investment date.
See the guidelines for full details of organisations eligible for SAVCF support.
Other SAVCF important details that you will need to know
SAVCF assessment
The SAVCF will assess opportunities on a case-by-case basis, but will be seeking companies that have the following characteristics:
- A large addressable market
- A product or service offering with a demonstrated ability to meet an existing or emerging market need
- A clear thesis on the sources of the business’ competitive advantage, and the sustainability/defensibility of this competitive advantage
- Ability to scale rapidly in a capital efficient way
- Led by a very high quality management team
- A clear path to a liquidity event
See the guidelines for full details of the assessment criteria.
How do I get the SAVCF?
Your application will be considered on its merits, based on:
- how well it meets the criteria
- how it compares to other applications
- whether it provides value with money.
When assessing the extent to which the application represents value with relevant money, assessors and decision maker will have regard to:
- the overall objectives of the funding opportunity
- the evidence provided to demonstrate how your project contributes to meeting those objectives
- the relative value of the funding sought
- extent to which the application matches identified priorities
Applicants must:
- Read and understand the guidelines.
- Ensure eligibility for the funding. Applicants that do not meet all the eligibility criteria will not be considered.
- Deliver the project as outlined in the application and agreed project plan.
- Provide complete information requirements.
Information to prepare and applying for the SAVCF application
Applicants must submit their company details and other information requirements via the savcfund.com website.
Register your interest here with GrantHelper to explore your alignment with this program and how we can assist you to increase your chances of success.
SAVCF resources
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