ASX-listed startup accelerator and investor Scalare Partners (ASX: SCP) has made its third acquisition, snapping up VC matching marketplace Inhouse Ventures in a deal worth up to $1.73 million.
Scalare initially invested in the marketplace in November 2023, taking a 20.7% stake. Venture studio Shadowboxer also backed Inhouse, which was founded by CEO Elliot Spiegel in June 2022.
The deal is made up of a $233,331 in cash for Spiegel, $1,066,646 of ordinary Scalare shares to the four non-Scalare Inhouse shareholders; and $433,331 in total deferred consideration, payable to the CEO and founder if he achieves revenue targets up to the end of the 2027 financial year.
Inhouse Ventures (IHV) matches startup members with people in marketing, finance, PR and legal, and has a community of more than 5,500 founders, investors, VCs and family offices,
Scalare said the acquisition expected to be EBITDA and cash flow positive, contributing to the company’s bottom line.
Earlier this month, Scalare released its first results since listing on November 14 in a reverse takeover of confectionary maker Candy Club. The business posted a statutory EBITDA loss of $1.294 million for the six months to December 31, but nearly $1 million of that figure was due to listing costs, with the underlying EBITDA loss sitting $307,186.
Scalare’s total revenue increased 115% on 12 months ago to $1,295,718 for the half.
Scalare Partners CEO Carolyn Breeze said the acquisition gives the business an additional service it can offer to its existing client base and Australian early-stage technology ecosystem, unlocking new revenue opportunities.
“Inhouse Ventures has built an impressive platform that aligns perfectly with our mission of supporting technology founders at every stage of their journey,” she said.
“We look forward to working with Elliot and the IHV team to drive even greater impact in the startup ecosystem.”
Spiegel said the merger with Scalare “is a natural evolution” for the marketplace.
“Our platform and services complement Scalare’s mission, and together we will be able to offer even greater support to founders looking to scale their businesses,” he said.
“I’m thrilled to continue leading IHV and look forward to what we can achieve together.”
The deal is expected to go through in the next week and the shares will be issued on completion are subject to escrow until 14 November 2026.
The $433,331 bonus payment is payable if revenue exceeding $2.16 million is generated by IHV by FY27
IHV had annualised revenue $212,544, and profit before tax of $10,886 for the six months to 31 December 2024. It had cash reserves of $83,095 and no debt.
Scalare also owns the Australian Technologies Competition and Tech Ready Women, which it acquired in April 2024.
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