Venture capital firm EVP has banked $20 million since last Thursday from its partners and existing investors for its fifth fund, which the Sydney-based firm expects will swell to $500 million in the next decade.
Previously known as Equity Venture Partners, EVP was founded in 2014 by Les Szekely – the first investor in both HotelClub and SiteMinder – and Howard Leibman, but did not launch its first $25 million fund until 2016. Misha Saul, who joined EVP from Tim Reed and Andy Gray’s Potentia Capital to lead the new fund, said the opportunities fund would target “meaningfully under-served” segments of the software market.
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