Up to $50M is available from NAB Ventures to support entrepreneurs in Australia and 0ffshore in their quest to build leading technology companies.
NAB Ventures
NAB Ventures is the venture arm of the National Australia Bank, one of the largest banks globally. They invest in enterprises that can leverage the bank’s expertise, assets and market position to drive growth in investee companies.
Background
NAB is a market leader in business banking, with specific focuses on SMEs, agriculture, health and education.
NAB owns MLC, the largest retail superannuation fund; JB Were; and UBank, Australia’s most successful digital bank.
NAB Ventures understands that leading technologies are funded quickly. NAB Ventures have developed a streamlined internal investment processes to match the speed of high-growth ventures. Investee companies can go from a signed term sheet to investment close in as little as four weeks.
Objectives
Connected Business – Provide a “connected” experience for small and medium businesses
- Technologies that help small and medium business customers manage all of their financial needs (including banking, tax, invoicing, and payroll) at every stage of their journey. Specialist offerings in health and agri-business are of particular interest.
Home Ownership – Support retail customers through the full home ownership journey
- Leap – help customers find and secure a property
- Land – make it easy for customers to reach settlement
- Live – provide insights and tools to manage all aspects of home ownership
Cashless World – Build easier, faster, richer payments for customers
- Technologies to enhance credit and debit card offerings, and support our customers in fully embracing and benefiting from new innovations such as digital wallets, real time payments, and blockchain-enabled solutions.
Empowered Investment – Help customers build, monitor and manage wealth
- Disruptive solutions for wealth management (including deposits, property, equities, funds and super), to help customers achieve better investment outcomes.
NAB Ventures will leverage NAB’s core capabilities, driving customer insights and solutions via its deep understanding of customer data along with the inherent bank capabilities of trust, security and identity management.
Funding
Australian big-four bank NAB has allocated another $50 million to its corporate venture capital fund NAB Ventures, doubling the funds available to bring the total to $100 million.
The fund was launched in 2016 with an initial $50 million to invest over three years. It has backed 12 businesses to date, including property investment startup BrickX, real estate communications platform ActivePipe, and data sharing startup Data Republic.
