Entrepreneur community and educator The Entourage has announced that they now have a $2 million pool of capital ready to invest in some of Australia’s promising startups.
In what is considered to be one of the first of its kind in the country, The Entourage Growth Fund has been developed as an early stage investment fund for businesses in their first steps.
Jack Delosa, an entrepreneur who was named one of Australia’s top 10 entrepreneurs under 30 in Dynamic Business Magazine, said the company was looking to invest in all sectors – not just those in the tech industry.
“The tech space has a lot of really good funds and people available to them through groups like Blackbird Ventures, Startmate, BlueChilli, Dominet Digital and Pollenizer,” Mr Delosa said.
“While we certainly invest in tech businesses, we think it’s time someone invested in upstarts in other thriving sectors.”
Founded in 2010, The Entourage aims to support early stage businesses by providing them with a wealth of experience, skills and knowledge.
Mr Delosa said that the last two years has seen an increase in members, of which there are now 65,000, demanding “smart money.”
“These early stage entrepreneurs need the cash but they want more than that – they want the experience that comes with the money. We deliver on both fronts.”
The first startup receiving investment from the company is Velocity Consulting, a specialist recruitment firm based in Sydney.
“Velocity Consulting’s managing director Jade Green has previously helped build two recruitment companies,” Mr Delosa said. “Now, we’re backing her to do it a third time.”
Those looking to apply can visit: http://www.the-entourage.com.au/the-entourage-growth-fund