Allion continues to act for BetterLabs Ventures, RACWA’s corporate venture capital fund, following the announcement in late January 2020 of BetterLabs Venture’s seed capital fund expansion from A$3M to AA$23M.
In its first 12 months, the fund has received over 150 applications with Allion acting for BetterLabs on its completed investments, Complete Homes Filtration and Space To Co. The expansion of the BetterLabs Ventures fund also means the fund will work with “startups who are ready to launch, as well as Series A and Series B businesses hungry to scale fast”.
The RAC estimates “its investments will be between $300,000 and A$3M apiece”.
BetterLabs Ventures is established and run by BetterLabs Pty Ltd, the innovation arm of the Royal Automotive Club of WA (RACWA).