Leading Brisbane Technology Entrepreneur Llew Jury Has Created A New Venture Capital Fund With A Difference.
Aptly called Sprint and focused on early stage Industry 4.0 tech (automation and artificial intelligence), Aged Care tech and Health tech startups, the fund will focus on founders that want to rapidly globally scale their ventures.
Jury explains that the new fund will offer venture debt funding to early stage startups without a mandatory equity stake necessarily being taken. A discounted funding rate will be provided to the startups that will be generally cheaper and more accessible when compared to other financial institutions.
In conjunction to venture debt funding, Sprint will provide early stage startups access to capital for seed/post seed rounds and it’s portfolio companies will have the opportunity to look a split of traditional venture funding and venture debt funding including access to convertible notes.
“As an Entrepreneur in Residence (EiR) within the accelerator word I’ve seen first hand numerous start ups with global growth opportunities burn through the money given to them by friends and family. Until recently there hasn’t been many ways to secure funding prior to a larger seed round from VC’s.”
“YouTube and Facebook are two really good examples of startups that have leveraged venture debt funding to grow and scale prior to equity based funding being considered.”
“As Sprint is focused on the founder and their personal and teams growth, having more ways to support them will give the next generation of Australian startup founders access to more funding sources than they’ve previously had” he said.
Sprint is currently seeking investors to join the initial Sprint fund. For investor enquires, please contact Llew Jury on 1300 898 296.