Paspalis is pioneering efforts to develop the Australian venture industry, innovation and start-ups in the Northern Territory. Paspalis Innovation Investment Fund No 1 is closed.
About the Fund
The Paspalis Innovation Investment Fund (the first venture capital fund launched in the Northern Territory) is designed to satisfy one of the criteria for visa nomination by the Northern Territory Government of an individual under the Australian Federal Government Business and Skilled Migration Program.
The Fund is an Australian wholesale unregistered investment scheme structured as a unit trust. Each investor in the Fund is issued with units in the Fund. The terms of the units, including the investor’s rights and obligations, are set out in this Information Memorandum and the Fund’s Trust Deed.
PIIF is an active member of AVCAL – Australian Private Equity & Venture Capital Association.
The Fund is managed by its Trustee One Investment Group and it’s investment manager Paspalis Asset Management.
One Investment Group is Australia’s leading independent provider of Responsible Entity, Trustee, Corporate Trust, Fund Administration and Custody Services to over 150 investment managers.
Harley Paroulakis is the Managing Director and CEO of Paspalis Asset Management and Founder of the Darwin Innovation Hub. Harley’s experience includes incubator development and management, innovation investment and commercial property.
In 2017, the Darwin Innovation Hub was awarded the right to deliver the Federal Incubator Support Program for Northern Australia. The Darwin Innovation Hub is a partnership between Paspalis, the Northern Territory Government and Charles Darwin University and will focus on 2-way innovation and investment opportunities between the Asia Pacific and Northern Australia.
Paspalis Asset Management, and its related entities, has operated as an investment manager in Australia for over 15 years. This includes nearly 20 years’ experience in asset management of the Paspalis Group’s businesses, investments and commercial property portfolio as well as other specialised corporate initiatives. Harley was made the first NT State convenor for the Australian Venture Capital Association Ltd in 2001 and has held senior executive positions with the Foundation Capital Innovation Investment Fund and Merrill Lynch, Singapore.
Objectives of the Fund
The objective of the Fund is to provide a return to investors of between 1.5% and 5.0% per annum while supporting innovation and early-stage ventures which are conducted in, or associated with, the Northern Territory.
The Fund will look to invest in Australian companies seeking growth in the Asia Pacific region and Asia Pacific companies looking to relocate to Australia where those companies are involved in ventures that provide an economic advantage to the Northern Territory. Key offshore markets of interest include China, Singapore, Israel, Germany and the United States where Austrade has established Landing Pads for Australian growth companies.
The Fund will invest 80% of its funds in Northern Territory Government Bonds (or equivalent) which should provide a stable, low-risk return on investment. The Fund will invest approximately 20% of its funds into early-stage and emerging companies which satisfy at least one of the following criteria:
- Companies registered and operating in the Northern Territory
- On shore and off shore companies undertaking business ventures that result in significant productivity gains or provide an economic advantage to Northern Territory industry
- Innovation projects that result in significant productivity gains or provide an economic advantage to Northern Territory industry
- Early stage companies that have a presence at the Darwin Innovation Hub (DIH)
- Development stage companies that can demonstrate growth prospects in international markets
- Research and development projects associated with Charles Darwin University
Paspalis investment criteria for venture capital:
- 10-15% target rate of return
- Ability to achieve a realistic exit in a 5 year period
- Projects that create an economic advantage for the Northern Territory
- Ability to take a minority or majority stake in the investee company
Minimum investment $50,000 up to $2,500,000 per investment
How to invest
To subscribe for Units in the Fund each prospective investor will need to read the Information Memorandum and complete an Application Form.
For further information
To obtain an Information Memorandum and Application Form, please contact the Trustee, One Funds Management Limited on: firstname.lastname@example.org
Disclaimer: This web page and downloadable flyers are provided to you for information purposes only. It does not constitute an offer or invitation to purchase or subscribe for interests in the Fund. Any financial product advice given is of a general nature only. The information has been provided without taking into account the investment objective, financial situation or needs of any particular investor. Therefore, before acting on the information contained in this flyer you should seek professional advice and consider whether the information is appropriate in light of your objectives, financial situation and needs. There is no guarantee of the performance of the Fund, the repayment of any capital or any rate of return. Any statements of intent and opinion and forward looking statements are subject to a range of factors and may or may not be realised or be accurate. Investing in any financial product is subject to investment risk including possible loss. The information on this web page is based on information provided that may not have been verified. We believe that the information is reliable but do not guarantee its accuracy or completeness. This information is only intended for the persons to whom it is given and who qualify as ‘wholesale clients’ under section 761G(7) of the Corporations Act 2001 (Cth). Paspalis Asset Management Pty Ltd ACN 086 738 301 authorised representative of One Investment Administration Ltd ACN 072 899 060 AFSL No. 225064. The trustee of the Fund is One Funds Management Limited ACN 117 797 403 AFSL No. 300337.