EVP

EVP is a distinguished venture capital firm based in Sydney, Australia, with a concentrated focus on backing early-stage business-to-business (B2B) software companies across Australia and New Zealand. Established in 2014, the firm's partners bring a wealth of experience, having actively invested in software companies since the late 1990s. EVP distinguishes itself through a high-conviction investment approach, underpinned by pragmatic ambition and a profound understanding of the software development journey. They actively partner with founders, providing not just capital, but also hands-on strategic and operational guidance through a dedicated platform that offers talent support, networking opportunities, best practice insights, and software discounts. This active partnership model is a cornerstone of their value proposition, ensuring deep involvement in the growth of their portfolio companies.

Over the years, EVP has successfully raised multiple funds, including Fund IV which closed over its $100 million target, taking the firm's total funds under management to over $270 million as of February 2023. More recently, EVP Fund V is now live and targeting an additional $100 million, demonstrating continued investor confidence. Across their first four funds, EVP has invested in over 50 companies, yielding a gross Multiple on Invested Capital (MOIC) of approximately 3.3x and a gross Internal Rate of Return (IRR) of about 27% across all investments. They target companies with strong early metrics, robust customer engagement, exceptional retention rates, and accelerating revenue growth, typically investing at the Series A stage.

EVP's investment thesis centers on identifying mission-critical B2B software solutions with global market potential. Their portfolio showcases successful companies such as SiteMinder, a global hotel commerce platform, Deputy, a worldwide workforce management solution, and Shippit, a leading shipping and logistics platform. The firm's leadership includes co-founders and partners Les Szekely and Howard Leibman, alongside partners Justin Lipman, Daniel Szekely, and Misha Saul, who together form the Investment Committee. The firm’s consistent focus on B2B software has allowed them to develop specialised expertise, providing a competitive advantage in their investment process and making them more effective partners to founders.

What sets EVP apart is their unwavering commitment to long-term partnerships and a disciplined investment strategy. They structure their funds as Early Stage Venture Capital Limited Partnerships (ESVCLPs) for eligible Australian investors, offering significant tax concessions including a 10% offset on invested capital and tax-free capital gains. The firm seeks founders with deep industry expertise and a unique insight into the problems they are solving, avoiding pre-revenue investments to ensure a validated product and established customer base. EVP aims to build a concentrated portfolio of 10-15 high-growth companies per fund, taking meaningful ownership stakes and reserving capital for follow-on investments to double down on top performers.