On the 1st December 2015 Go Capital launched its first private equity fund – the Go Capital Technology Fund #1 and made its first investment with a $1m position in HealthEngine, Australia’s largest on-line health marketplace.
Go Capital was established in Nov 2014 with co-founders Geoff Pritchard, Derek Gerrard and Glenn Bergsma to provide strategic consulting, corporate advisory and private equity to the technology sector in Perth, Western Australia.
The fund is designed to capture early stage, high growth, post seed round, private equity opportunities specifically focused on technology companies with sustainable revenues. The portfolio will build up to 10 similar investment opportunities that typically provide one or more of:
- software-as-a-service;
- eCommerce;
- commercial use of big data;
- enterprise software;
- subscription based cloud solutions; and
- online marketplaces.
Go Capital Executive Director, Derek Gerrard, says
“launching the fund has capped off a great year for us and as our first investment, we believe HealthEngine represents the improving quality of technology companies that have been
established in Perth over the last few years. The sector has been well supported recently by a number of education programs for technology entrepreneurs and it is now time for this to be matched by the growth funding required to see the best of these kick on to become great, sustainable companies.”
HealthEngine CEO, Dr Marcus Tan, says
“HealthEngine has just celebrated its 2 millionth booking with a fresh round of capital raising focused on further growth and expansion. The capital raise has attracted a high calibre of investors and we are pleased to include local investor Go Capital as part of this.”
Go Capital is also responsible for the Perth launch of Innovation Bay (a networking series between technology entrepreneurs and angel investors), that has seen at least two startups receive over $500k in funding and advising a 2.5 year old eCommerce business on a $10m exit to a US-listed business.
