Open NowBusiness
Australian Venture Capital Fund of Funds (AFOF)
Australian Government · Australia
The Australian Venture Capital Fund of Funds (AFOF) program allows eligible new partnerships to register for tax incentives and related benefits when investing in a portfolio of registered venture capital partnerships. It is an ongoing Australian Government program aimed at stimulating venture capital investment into innovative Australian businesses.
Deadline
Rolling / Ongoing
Duration
between 5 and 20 years
Location
Australia
Who Can Apply
• Applicant must be a limited partnership or incorporated limited partnership established in Australia
• Each general partner must be an Australian resident
• The AFOF must be a new partnership and cannot be created by restructuring an existing partnership
• The partnership agreement must require the partnership to remain in existence for between 5 and 20 years
• The partnership agreement must require partners to contribute capital as and when required
• The partnership agreement must prohibit adding new partners except as provided for in the agreement
• The partnership agreement must prohibit increases in committed capital except as provided for in the agreement
• The partnership agreement must give the general partner the right to require partners to contribute committed capital
• The partnership agreement must include a plan outlining intended investment activities
• The general partner must advise that the fund has sufficient capital to begin its investment program
Applicants must be a new limited partnership or incorporated limited partnership established in Australia, with each general partner an Australian resident. The partnership cannot be created by restructuring an existing partnership. The partnership agreement must require the partnership to exist for between 5 and 20 years, require partners to contribute capital as required, prohibit adding new partners except as provided in the agreement, prohibit increases in committed capital except as provided in the agreement, confer on the general partner the right to require partners to contribute committed capital, and include a plan outlining intended investment activities. There is no minimum capital requirement for full registration, but the general partner must advise that the fund has sufficient capital to begin its investment program.
What's Funded
Establishing and registering a new Australian fund-of-funds partnership to invest in a portfolio of early stage venture capital limited partnerships and venture capital limited partnerships, which in turn invest in innovative Australian businesses.Expected Outcomes
Registration of the partnership as an AFOF, compliance with ongoing reporting requirements, and increased pooled venture capital investment into innovative Australian businesses through eligible venture capital partnerships.Key Information
Applicant Types
partnership
Stage
established
Funding Purposes
innovationcommercialisationother
Keywords
venture capitaltax incentivesfund of fundsAFOFESVCLPVCLPpartnership registrationinnovation
Frequently Asked Questions
1
What is the Australian Venture Capital Fund of Funds (AFOF)?
The Australian Venture Capital Fund of Funds (AFOF) is a business grant offered by Australian Government in Australia. The Australian Venture Capital Fund of Funds (AFOF) program allows eligible new partnerships to register for tax incentives and related benefits when investing in a portfolio of registered venture capital partnerships. It is an ongoing Australian Government program aimed at stimulating venture capital investment into innovative Australian businesses.
2
Who is eligible for the Australian Venture Capital Fund of Funds (AFOF)?
- Applicant must be a limited partnership or incorporated limited partnership established in Australia
- Each general partner must be an Australian resident
- The AFOF must be a new partnership and cannot be created by restructuring an existing partnership
- The partnership agreement must require the partnership to remain in existence for between 5 and 20 years
- The partnership agreement must require partners to contribute capital as and when required
- The partnership agreement must prohibit adding new partners except as provided for in the agreement
- The partnership agreement must prohibit increases in committed capital except as provided for in the agreement
- The partnership agreement must give the general partner the right to require partners to contribute committed capital
- The partnership agreement must include a plan outlining intended investment activities
- The general partner must advise that the fund has sufficient capital to begin its investment program
3
What activities are funded?
Establishing and registering a new Australian fund-of-funds partnership to invest in a portfolio of early stage venture capital limited partnerships and venture capital limited partnerships, which in turn invest in innovative Australian businesses.
4
How do I apply for the Australian Venture Capital Fund of Funds (AFOF)?
Start by checking your eligibility using the free Beta Docs eligibility checker. If eligible, Beta Docs' AI-powered platform can help you draft, review, and refine your application to maximise your chances of success.
Need help applying?
Beta Docs has helped founders secure $160M+ in competitive grants. Our AI platform drafts compliance-perfect applications — and our expert reviewers make sure you stand out.