Pacific Equity Partners and OneVentures took out major awards at the 2024 Investing for Growth Awards, winning Firm of the Year and Venture Capital Firm of the Year respectively.
Ten awards were announced at a ceremony this evening, recognising leaders and excellence across the private capital investment community.
In addition to the firm of the year awards, six private equity and venture capital firms received awards for excellence in specific investments. These investments spanned areas of profound need including healthcare, education and the energy transition.
Quadrant Private Equity and OneVentures were recognised as industry leaders, receiving the Michael Hirshorn Impact Award and Leadership in Diversity, Equity and Inclusion Award respectively.
The Michael Hirshorn Impact Award recognises the positive impact to society and community that private capital investors can make through the businesses they invest in and the contributions they make in terms of values and quality of life.
The 2024 award recipients were:
- Firm of the Year Award: Pacific Equity Partners
- Venture Capital Firm of the Year Award: OneVentures
- Venture Capital - Early-Stage Investment of the Year Award: Airtree Ventures, Employment Hero
- Venture Capital – Expansion / Growth Stage Investment of the Year Award: Perennial Partners, InstantScripts
- Small Cap Investment of the Year Award: IFM Investors, My Plan Manager
- Mid Cap Investment of the Year Award: Pacific Equity Partners, Up Education
- Upper-Mid Cap Investment of the Year Award: Tasman Capital, Serenitas
- Large Cap Investment of the Year Award: The Riverside Company, Energy Exemplar
- Michael Hirshorn Impact Award: Quadrant Private Equity
- Leadership in Diversity, Equity and Inclusion Award: OneVentures
Winner of the Firm of the Year Award, Pacific Equity Partners, was recognised for highlights including:
- the launch of a seventh flagship fund, taking FUM to A$11bn – the largest of any domestic private equity fund
- the addition of four portfolio companies across PE and Secure Assets funds
- its complete exit of its 2015 fund with a 22% net internal rate of return and without loss across any investment
- major steps forward on diversity and inclusion with a Women in Business Internship and new targets for increasing diversity within the firm and its portfolio companies.
Winner of the Venture Capital Firm of the Year, OneVentures, was recognised for highlights including:
- winding up its 2010 fund, which was licensed under the Commonwealth’s IIF program with a 10X value multiple
- launching four continuation and secondary vehicles, mechanisms not frequently seen in venture capital in Australia, which helped balance priorities of liquidity for early investors while maintaining support for star assets
- creating a new structure to facilitate promotion of the next generation into leadership at OneVentures. It's notable that OneVentures recorded 0% staff turnover.
Australian Investment Council CEO Navleen Prasad said: “In a year in which global market and economic conditions made investing, fundraising and delivering returns more challenging, the quality of the firms and investments recognised this evening has shone through.
“Of course, investment returns are an essential indicator of success, however what distinguishes tonight’s award winners are the ways in which their investments have supported the growth of start-ups and growth businesses. Private equity and venture capital are long-term investment classes and it takes expertise, experience and persistence to build successful businesses.
“For those awards specific to an investment, it is recognition not only for the investors but for the entrepreneurs and business leaders who realised their potential with the support of investment capital. Congratulations to all winners.”
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