Fund Structure

The fund was formed with $ 10.5m committed capital from members of the successful Billfolda Angels Investment Syndicate in Sydney.

The fund has a maximum in committed capital of $25 million.

BVC expects to make 15 to 20 investments in Australian pre-seed, seed, start-up and early expansion businesses over the next few years, with additional capital kept aside for follow-on investment. 

Investments will range from $200,000 to $1 million.

The fund will lead investments and co-invest with HNW, Family Office and other funds from time to time.

Billfolda Ventures has applied for Early Stage Venture Capital Fund Limited Partnership status with the Department of Industry, Science and Resources.

Broadly, Investors in an Early Stage Venture Capital Fund Limited Partnership (“ESVCLP”) may be eligible for:

• an Australian income tax exemption; and
• an Australian Capital Gains Tax exemption.

Please see the Australian Tax Office website for details of the tax incentives for investors into ESVCLPs.

Billfolda Ventures is not open for investments at this time. 

Billfolda Ventures does not take into account the specific objectives, financial circumstances, taxation circumstances or needs of any investor. Prospective investors should therefore obtain professional tax advice that takes into account their specific circumstances before making the decision to invest.

This summary is very general in nature and is not definitive or an exhaustive regarding the possible tax treatment of investing in a ESVCLP.