Software program-focused enterprise capital agency EVP has closed its fourth fund after hitting its $100 million last goal.

The business-to-business (B2B)-focused VC now has greater than $270 million in funds below administration amid greater than 40 early-stage startup investments in software program corporations in Australia and New Zealand, together with Ignition, Deputy, Shippit and Hnry. 

The only real dealer bookkeeping platform Hnry lately went on to lift $35 million in a Collection B.

Final yr EVP led a $10 million elevate for healthcare administration platform Zipline because it seemed to increase within the US.

EVP cofounder Howard Leibman mentioned he was happy with the help for fund VI when the previous yr noticed a tougher fundraising surroundings.

“We noticed a major reset in valuations by way of 2022, main many buyers to re-evaluate their long-term publicity to know-how within the personal markets,” he mentioned.

“We relied considerably on the continued help from our longstanding buyers. At our first shut of $60 million, commitments had been overwhelmingly from our present base. As we raised the $40m steadiness by way of late 2022, we had been happy to welcome a great variety of new buyers to the fund.”

Leibman mentioned that like their earlier funds, the buyers are household places of work and excessive web price drawn to EVP’s funding thesis.

“For a lot of, our sharp give attention to early-stage B2B software program and the consistency of our method over a number of funds proceed to resonate,” he mentioned.

Capital from the brand new fund is already been deployed in three investments, with an extra two at time period sheet stage.

“We goal to construct a concentrated portfolio of as much as 15 corporations. While we gained’t make investments pre-revenue, we goal to companion with our founders very early on their journeys,” he mentioned.

“When you’re a B2B software program firm with a world market and powerful early traction, we wish to discuss to you!” 

Leibman mentioned the native ecosystem is mature sufficient to help plenty of funds with specialist funding mandates.

“For EVP, we expect our unique give attention to B2B software program provides us a sure benefit in our funding course of,” he mentioned.

“No doubt it makes us higher companions to our founders. As we start to deploy Fund IV, and because the native ecosystem continues to develop, we look ahead to supporting Australia’s subsequent technology of worldwide software program companies.”

EVP launched in 2014 and has 12 companions, together with 4 girls.