Hamilton Locke advised UNSW Canberra on its significant investment into the newly formed ACTivate Capital L.P. (the Fund), the first Early-Stage Venture Capital Limited Partnership backed by the ACT Government. UNSW Canberra joins the ACT Government and Epicorp Limited as the cornerstone investors in the Fund focused on supporting the Canberra start-up ecosystem.
The establishment of the Fund is a key pillar of the ACT Government’s broader vision to support innovation, sustainability and growth in the ACT. The Fund’s mandate is focused on Canberra-based early growth stage companies in areas such as renewables, cybersecurity, defence and space. As a Canberra based fund, it will draw on the research capabilities of the ACT’s world-class universities, including UNSW Canberra, to commercialise groundbreaking technologies.
UNSW is also joining Epicorp Limited (a company limited by guarantee) as a ‘Sponsor Member’.
The Fund launches with $23 million in committed capital with the potential to grow to $50 million through a second round of investment planned in 18 months. Capital will be deployed over five to seven years, seeing a significant investment in the Canberra start up ecosystem.
Commenting on the investment made by UNSW, Erik Setio, Hamilton Locke Partner said: “it was a privilege to work alongside my old alma mater to facilitate their investment into ACTivate Capital. This is a great initiative by the ACT Government, Epicorp Limited and UNSW. By coming together, it will provide new opportunities to expand the Canberra commercialisation ecosystem”.
For more information, please contact Erik Setio and Annabelle Muskitta.
