Beaten Zone Venture Partners has commenced its first capital call for its Fund I which aims to help Defence companies who otherwise can't raise capital due to Environmental, Social, and Governance (ESG) concerns.
"The response from investors has validated our thesis that Defence technology requires dedicated venture capital expertise," said the Founder and Managing Partner of Beaten Zone Ventures, Steve Baxter.
More than $10 million has been committed to Fund I to date which makes it eligible for Early Stage Venture Capital Limited Partnerships (ESVCLP) status. Beaten Zone Venture Partners expects to close Fund I within 18 months and is targeting a $60 million valuation.
"With this capital call, we're moving from thesis to action, ready to deploy more capital into companies building strategic technologies that enhance Australia's sovereign capabilities. On behalf of the Beaten Zone Ventures team I want to thank unreservedly our investors who have trusted their capital to us."
"The traditional funding structure has built impressive capabilities. Now, with private capital, these companies can deliver their innovations globally."