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Five V Capital
Five V Capital was founded in Sydney and runs two distinct investment strategies: a private equity practice targeting profitable, mid-market businesses...
Five V Capital
Five V Capital was founded in Sydney and runs two distinct investment strategies: a private equity practice targeting profitable, mid-market businesses across Australia and New Zealand, and a venture capital arm focused on B2B software companies from Series A onward. The firm is industry-agnostic on the private equity side, deploying A$30–100 million per deal for significant minority or majority stakes. Its venture team writes initial cheques of $1–10 million, with the ability to invest up to $20 million across multiple rounds. The firm is a partner to QIC’s Venture Capital Development Fund, backing Queensland-based startups. The portfolio spans a wide range of sectors and stages. On the private equity side, confirmed positions include Questas Group, Habit Health, Monson Agencies Australia, Umwelt, and APP Corporation. Venture capital holdings include Checkbox, Lyrebird Health, Fair Supply, OrbitRemit, and EngageRM. The firm operates from offices in Darlinghurst and Auckland, covering both Australia and New Zealand. Five V is a certified B Corporation and a member of Pledge 1%, committing a percentage of profits to charitable causes annually. Five V closed its Frontier Fund I at the hard cap of A$325 million (per the firm, 2024). Recent operational activity includes a strategic equity investment in Agile Energy, the firm’s third Fund V investment in Questas Group, and the final close of Frontier Fund I. The firm announced a definitive agreement to sell its portfolio company Automic Group, an integrated registry services provider, in 2024. Five V’s structural differentiator is its requirement that partners co-invest personal capital into every fund, aligning the investment team’s incentives with those of external limited partners. This model is uncommon in the Australian mid-market and venture landscape, where many firms rely solely on management fees. By mandating that the team become significant investors in their own vehicles, Five V builds governance rooted in shared financial outcomes rather than fee accumulation.
General information
Firm type
Private Equity
Year founded
—
AUM
Undisclosed
Location
Region
Oceania
Country
Australia
City
Sydney
Corporate office
243 Liverpool Street, Darlinghurst NSW 2010, Australia
Additional offices
Auckland, New Zealand
Sector focus
Frequently asked questions
How does Five V Capital source proprietary deal flow?
The firm relies on a network built through years of partnering with founders and management teams across Australia and New Zealand. Its dual private equity and venture platform creates cross-pollination — relationships from growth-stage software investing often surface later-stage buyout opportunities, and vice versa. Additionally, the Queensland Venture Capital Development Fund partnership opens access to early-stage companies within that state's startup ecosystem.
Is Five V Capital a family office or an institutional fund manager?
Five V Capital is an institutional asset manager that manages commingled funds backed by external limited partners. It is not a single-family office. The investment team co-invests significant personal capital into each fund, which means principals are among the largest investors in the vehicles they manage, but the capital base is institutional, not derived from a single family fortune.
Do Five V's venture capital investments exclusively target Australian companies?
The venture capital strategy is primarily focused on Australia and New Zealand. However, Five V states it will also consider offshore opportunities where it believes it has a differentiated perspective, particularly in B2B SaaS. The firm positions this as an extension of its core ANZ mandate rather than a separate global strategy.
What is the scope of Five V Capital's relationship with QIC?
Five V Capital is a partner to QIC's Venture Capital Development Fund program, a Queensland government-backed initiative that aims to grow the state's startup ecosystem. This partnership provides Five V with additional capital to invest in Queensland-based businesses and the ability to back winners through multiple funding rounds.
Does Five V Capital take controlling stakes or prefer minority positions?
In private equity, Five V provides flexible capital for both significant minority and majority partnerships. The firm states it can accommodate sell-downs and growth capital needs, typically deploying A$30–100 million in equity per transaction. In venture capital, it takes minority positions in Series A and B-stage companies as a financial and strategic partner.
What drove Five V Capital's B Corporation certification?
Five V's constitution explicitly mandates a dual purpose: generating strong returns for investors while making a positive contribution to the environment and community. The B Corporation certification is a third-party validation of that structure. The firm also maintains a public Responsible Investment Policy and is a member of Pledge 1%, committing a meaningful percentage of profits annually to charitable causes.
How does the sale of Automic Group reflect Five V's investment lifecycle?
Five V Capital announced a definitive agreement to sell Automic Group, an integrated cloud-based registry solutions provider, in 2024. The exit followed a multi-year partnership during which the firm supported Automic's growth and expansion. The transaction is consistent with Five V's private equity model of partnering with profitable mid-market businesses and exiting through trade sales or public listings once value-creation initiatives are realized.
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