Second deal oversubscribed as investors kick-start Sydney development
Sydney, 9 August 2016 — VentureCrowd, Australia’s original and most successful equity-based crowdfunding platform, has closed a second, oversubscribed funding round in partnership with end to end residential property developer, Clearstate, for a residential development in Sydney’s South West Growth Centre.
Hot on the heels of the companies’ inaugural Riverstone development deal, which raised close to $1 million in under four hours, the Austral investment has given more than 50 investors 49% equity.
The 2.4 hectare development site in Austral, west of Sydney, will be subdivided into 44 residential lots. Clearstate is currently developing 8 subdivision projects across the Western Sydney Growth Centres and North West Melbourne, offering residential land for home owner occupiers and investors. Land parcels range from 225m2 to 1,300m2, averaging 450m2 per lot.
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We are pleased to once again be a part of a unique investment opportunity with VentureCrowd.
Working with such a specialised platform provides access to a broad range of interested parties and allows us to put our development projects in the hands of the people who really want to invest in them. Together with VentureCrowd, Clearstate is reaching a new community proactively seeking investment in property for development.
– Lachlan Cameron, Commercial Director of Clearstate.
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With Clearstate involved in all phases of the development it ensures that each project is carefully selected, planned and executed, that costs are controlled and the quality of the product is delivered for customers, while allowing sustainable returns for investors.
The deal is one of VentureCrowd’s most popular yet, with more than 50 investors taking part. They include former Credit Suisse advisor Mitchell Hopwood, who invested through his self-managed superannuation portfolio as an alternative to a listed property fund.
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The Austral opportunity provided a relatively high, short term return in a bite size, easily understandable transaction that is fairly derisked from an investment perspective.
By investing through VentureCrowd, I am given direct exposure to an investment opportunity that I wouldn’t have had access to otherwise, helping me build out a diversified superannuation portfolio.
– Mr Hopwood, former Credit Suisse advisor.
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The innovative funding method, facilitated through the VentureCrowd platform, is giving eligible investors access to unique opportunities, while developers such as Clearstate can raise equity through a new form of alternative financing to facilitate the Australian dream of homeownership.
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We anticipated demand for the Austral project following the success of Riverstone, but we were astounded by just how quickly this latest round was oversubscribed.
Investors clearly have a robust appetite for alternative opportunities, whether it’s start-ups, corporate bonds or in this case, Australian property. We’re really looking forward to keeping the momentum going with similar investment opportunities in the coming months.
– Luke Fay, VentureCrowd GM of Equity & Credit.
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VentureCrowd is Australia’s first and only online investment platform for alternative assets, providing unrivalled access to equity-based crowdfunding for start-ups, property and credit. VentureCrowd has raised more than $14 million for high-growth Australian start-ups since launching in late 2014. This includes completing Australia’s largest ever equity crowdfunding raise of $4.2 million for mobile payments startup ingogo. VentureCrowd provides members with access to deals that wholesale investors have traditionally been locked out of, all verified and vetted by a network of partners to ensure we offer the most diversified selection of investment opportunities.
VentureCrowd is powered by Artesian Venture Partners Pty Ltd, one of Australia's leading early stage venture capital firms.
Clearstate is an end-to-end property development company that manages projects from acquisition to delivery. Founded in 2011, Clearstate has successfully completed developments in Sydney and recently expanded to Melbourne. In 2013, Clearstate joined the DNW Group and has since secured a development pipeline in excess of $150m. Every aspect of the Clearstate strategy it is about offering a superior place to live for its customers. Delivering environmentally sustainable homes and lifestyles is at the heart of what we do.
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