© 2017 Galileo Ventures. All rights reserved.
Galileo is establishing a new accelerator and early stage venture capital fund, Galileo Emerging Founders Fund I (the Galileo Fund).
The Galileo Fund will be the first in Australia to exclusively target young student entrepreneurs, who we call emerging founders. It will fund the top startups graduating from university-affiliated startup incubators and programs.
Galileo’s vision is be the leading accelerator supporting and investing in emerging founders worldwide, initially targeting Australia and New Zealand.
40% of students want to be a founder or have already started a startup within 5 years of graduating (source), and 9% want to be founders at graduation (source).
As a response to this demand, our research shows there are 71 non-coursework programs targeting entrepreneurs at various stages at universities in Australia. Universities have allocated over $85 million to establishing and operating these programs, and over 70% were started in the last 3 years.
Our approach is different to traditional venture capital funds and existing accelerators.
First, Galileo will focus on emerging founders, developing partnerships with the 48 universities across Australia and New Zealand to identify student startups. Identifying high potential emerging founders is not an easy task.
We will create a brand and community that heavily aligns with young founders, and work with university programs to identify potential high-growth startups, systematically investing in up to 20 early-stage startups in each program.
The Galileo Fund will invest in startups through a customised 6 month accelerator program, tailored to young entrepreneurs and each investment. Investments will be tranched based on the capital requirements of each startup, and the semi-structured program, office space and mentor network will provide them with the knowledge they need to succeed.
Our goal is to help emerging founders create value and growth in the early months of their startup, and to help secure follow-on funding for Galileo startups by being a ‘feeder’ into larger venture funds and other investors.
We’d love to discuss Galileo Ventures with you. Get in touch, and we’ll arrange a time to chat.
To view information about the fund, you must be a wholesale (sophisticated) investor (or equivalent under applicable foreign laws).
The provision of this information to any person does not constitute, and may not be used for the purposes of, an offer of securities or interests of any kind to that person or an invitation to any person to apply for the issue of securities or interests of any kind.
‘Wholesale investor’ means any person to whom the offer, creation or issue of an interest in the Fund would not:
(a) require the Manager or General Partner to prepare a Disclosure Document or Product Disclosure Statement;
(b) require the Fund to be a registered Managed Investment Scheme under the Corporations Act; or
(c) otherwise result in a breach of an applicable law by the Manager or the General Partner.