Venture Capital

Queensland VC Sprint Ventures nails first close on $50 million 2nd fund

- November 1, 2022 2 MIN READ
Georgia Barkell
New Sprint Ventures COO Georgia Barkell
Early stage VC firm Sprint Ventures has raised $8 million in the first close of its $50 million second fund.

Managing Partner and entrepreneur Llew Jury said the second fund, called the Expansion Capital Fund, follows the success of their first $5 million Vintage Sovereign Seed fund in 2020, which has delivered a return on investment of 45%.

Sprint recently invested in its 13th portfolio company, including four using capital from its new fund.

That includes business news streaming channel ausbiz (where Startup Daily hosts a show), VAPAR, another female-founder software startup using artificial intelligence for preemptive sewer pipe inspections, and Brisbane shared payments fintech YouPay.

Jury said the deal flow pipeline is stronger than ever for Sprint’s thematics of AI & automation, health, ageing, eCommerce, finance , property and energy, so they’re keen to continue building the new fund with family offices and wholesale investors.

“This means we can invest in the very best founders and their teams at the right valuations, applying our unique Sprint investment thesis to each of our portfolio companies,” he said.

“This importantly sees us providing not just financial capital, but social, experiential and network capital.Founders and their teams right now need plenty of support in all areas of their businesses and we’re working closely with them to ensure they have sufficient cash flow and runway to see out the next 18 months and beyond.”

Jury has also brought on banking veteran Georgia Barkell as Chief Operating Officer.

Barkell has spent two decades in financial services including time at Nomura Bank, Westpac and Deloitte, and will also be part of the Sprint Investment Committee.”I’m thrilled to be part of the leadership team at such a great time in the Sprint business journey,” she said,

“I am excited to be working with amazing people both at Sprint and within the broader VC community and look forward to continuing to grow the Sprint portfolio as we invest in the great founders who strive to build a better tomorrow”.

Jury said Sprint’s second Expansion Capital Fund is accepting investment applications from high net worth, family office investors as well as institutional investors looking for a 7-10 year investment horizon.

“Investors in Sprint funds have the opportunity to connect and mentor the portfolio companies through Sprint’s advisory programs,” he said.

Details here.


  • Editor’s note: Startup Daily collaborates with ausbiz, a company with Sprint Ventures as an investor. 
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