The Sydney Angels Sidecar Fund 2 follows the success of the first fund, which invested $8 million alongside angel investors in 27 start-ups.

Sydney Angels is a not-for-profit organisation with 100 angel investor members. The first Sidecar Fund, which launched in 2012, invested in taxi booking platform Ingogo, Fame and Partners, Instaclustr and Clarity Pharmaceuticals.

Sydney Angels and Sidecar Fund committee member, Richard Dale, said start-ups backed by the first Sidecar Fund have gone on to raise $85 million in equity capital and grants to scale their businesses.

Early investments by Sydney Angels members have helped put start-ups on the path to success, including Atomo Diagnostics which was first invested back in 2011 and is now a player on the world stage, receiving substantial investments and grants from the Bill & Melinda Gates Foundation, Mr Dale said.

Back then, only angel investors could get into exciting early stage deals like Atomo, but since 2012 when Sidecar Fund 1 became operational, its investors have had a stake in every deal Sydney Angels members do.

We believe that Sidecar Fund 2 will similarly provide investors with opportunities to support promising Australian start-ups as they scale innovative ideas into businesses of great value.

promoted stories