The Entourage has launched The Entourage Growth Fund, a $2 million pool of capital to invest in promising Aussie start-ups.
The Entourage Growth Fund is an early stage fund investing in a broad range of up-and-coming businesses, not just those in the burgeoning tech sector. Along with providing the capital to enable great businesses to flourish, the Entourage Growth Fund is also aimed at supporting the people at the helm with a wealth of experience, skills and knowledge.
The Entourage surrounds early stage businesses with some of Australia’s leading entrepreneurs to help them build multi-million dollar companies. Jack Delosa, Founder of The Entourage, says the initiative invests in the nation’s brightest companies from any growth industry.
“The tech space has a lot of really good funds and people available to them through groups like Blackbird Ventures, Startmate, BlueChilli, Dominet Digital and Pollenizer,” Delosa says. “While we certainly invest in tech businesses, we think it’s time someone invested in upstarts in other thriving sectors. These early stage entrepreneurs need the cash, but they want more than that. They want the experience that comes with the money. We deliver on both fronts.”
The Entourage Growth Fund assesses the future and likely growth potential of its investments and also looks for companies with aligning values. Entourage Growth Fund’s first investment in the upstart scene is with specialist recruitment firm Velocity Consulting.
“This investment of ‘smart money’ from the Entourage Growth Fund is a real game changer for us,” explains Velocity Consulting MD Jade Green. “We are adding additional staff to our Sydney office, opening a Melbourne office this year and we also have our sights set on Brisbane in 2016. This investment also paves the way for us to roll out some additional service offerings, some of which have been in planning since our inception.”
For more on the Entourage Growth Fund, including how to apply, visit www.the-entourage.com.au/the-entourage-growth-fund.
Like My Business on Facebook now to get involved in the SME community discussion.
Follow @mybusinessau on Twitter for breaking stories throughout the day.
Learn more about the SME Association of Australia.
Are you aspirational? Find out about our stablemate, Aspire magazine.