The BlueChilli Venture Fund (BCVF) is an independently managed registered ESVCLP which invests funds in BlueChilli startups which have successfully completed the BlueChilli accelerator program and have raised angel funding.
The ESVCLP (Early Stage Venture Capital Limited Partnership) program is an Australian Federal Government initiative designed to stimulate investment into Australia’s early stage venture capital sector by allowing generous tax concessions to investors in funds that meet the registration and investment criteria set out in the Venture Capital Act 2002 (Cth). All income and capital gains received by investors from an investment in the Fund, operating as an ESVCLP, will be exempt from Australian tax.
The Fund’s investment objective is to target an annualised return of >20% over 7-10 years by investing in a diversified portfolio of approximately 100 capital efficient technology startups screened, built and scaled by BlueChilli in the 156 Accelerator Program. The four key tenets of the Fund’s investment strategy are:
The Fund has the right (but not obligation) to make:
As a registered Investment Limited Partnership (NSW), The BlueChilli Venture Fund is governed by the terms set out by the General Partner, managed by an Investment Committee which reviews and approves proposed investments. The criteria for investment by the BlueChilli Venture Fund includes successful existing BlueChilli companies who:
The Investment Committee further confirms that the Accelerator program selection process has been satisfied and the Angel/VC investment criteria have been met, that any conflicts have been declared and that valuations are appropriate for the stage/progress of the startup.