Powered by MOMENTUM MEDIA
subscribe to our newsletter

Lakeba unveils fund for tech start-ups

The technology company has launched a new fund designed to invest in technology scale-ups that are aiming for exponential growth.

Lakeba has launched the Scale-Up Fund, which will look for businesses that have experienced rapid growth but require significant investment in capital or resources.

According to Lakeba, the fund would provide capital, operational knowledge, legal and risk guidance, marketing support, financial management and mentoring.

The technology company said it has made two investments of capital, capabilities and resources thus far in scale-ups, including in Australian-based appreci (which is an app designed to enable users to send digital messages of gratitude and a redeemable gift of a warm beverage to others), and US-based music streaming service LÜM.

For appreci, Lakeba said it supported the business in its distribution by leveraging its partnership with Microsoft to integrate the app with Microsoft team.

Advertisement
Advertisement

For LÜM, Lakeba said it provided capital and development capabilities to scale the social media and music streaming platform.

Commenting on the fund, Lakeba Group CEO Giuseppe Porcelli said he believes that the fund would help more entrepreneurs and their businesses to scale in terms of technology, geography and personnel.

“When building a business, it’s common to experience growing pains, especially if you have built a great product generating real demand,” Mr Porcelli said.

“Rather than have your business splitting at the seams, Lakeba can help provide the perfect fit, tailoring our investment to suit your specific needs, offering the support, guidance and resources to help scale-ups reach their full potential.”

The launch of the fund has followed Lakeba supporting fragmented property ownership platform Bricklet when it launched in 2019, during which it said it has supported Bricklet in selling over $15 million worth of bricklets.

PROMOTED CONTENT


The platform recently completed its Series A capital raise at a value of $28 million, and launched a buy now, pay later offering for on-title property ownership.

Lakeba, which was formed in 2013, has built 17 business and raised over $23 million independently. It has also guided three of these businesses to exits totalling more than $20 million.

The company currently has 12 active ventures in its portfolio, and said it has achieved a compound annual growth rate of 84 per cent between 2016 and 2019.

[Related: Ezidox becomes CDR recipient]

Lakeba unveils fund for tech start-ups
mortgagebusiness

Malavika Santhebennur

Malavika Santhebennur is the features editor on the mortgages titles at Momentum Media.

Before joining the team in 2019, Malavika held roles with Money Management and Benchmark Media. She has been writing about financial services for the past six years.

Latest News

Lenders have begun offering disaster relief packages for customers impacted by Tropical Cyclone Seroja in Western Australia. ...

Boutique lender Apickle has launched new finance product for SMEs using eftpos that enable them to borrow up to $200,000 without an asset se...

The federal government said it is pleased that higher confidence levels have led to a strong housing market but said that it is “keeping a...

FROM THE WEB

Join a group of highly informed brokers.

Broker Pulse, a community-driven knowledge base of lender performance Reveal exactly which lenders are making life easiest for brokers and their clients by taking this monthly survey and joining a group of highly informed brokers who leverage these insights every month.

JOIN NOW
podcast

LATEST PODCAST: Tackling the home deposit challenge

Do you expect to see strong uptake of the HomeBuilder scheme?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.