Giant Leap – investing in mission driven Australian founders
James Chin Moody, Will Richardson and Amanda Goodman.
Giant Leap invests in mission driven Australian founders building rapidly scalable companies that are working to solve the world’s most pressing problems, giving investors access to attractive returns that align to their values
Giant Leap is an early stage venture capital limited partnership (ESVCLP) fund launched in 2016 as Australia’s first venture capital fund 100% dedicated to investing in impact startups.
Impact businesses aim to create maximum positive impact for their customers, business partners and the public at large, as well as for the environment, while delivering exceptional financial returns.
Giant Leap invests primarily at seed stage and Series A, with a small allocation for pre-seed investments.
As of April 2023, Giant Leap has approximately 150 investors, including NRMA, its first institutional investor. It now manages 2 ESVCLPs and has more than $65 million in funds under management.
Giant Leap has invested in 30 companies to date, across sustainable living, health and wellbeing, and empowering people.
Mindset Health
One of Giant Leap’s success stories is Mindset Health, a clinical hypnosis app addressing conditions like irritable bowel syndrome, smoking addiction, and menopausal hot flashes. It does so through specialised programs backed by clinical evidence that help people to manage their health and wellbeing.
Giant Leap initially invested in Mindset Health’s 2021 seed round to help them expand Nerva, their flagship program for irritable bowel syndrome. The funds supported team growth and marketing, contributing to an increase in user numbers.
Mindset Health’s founders, Chris and Alex Naoumidis, have since raised $17.8 million in Series A funding from Australian and international investors, enabling them to expand their product offering across issues such as mental health, sleep and chronic pain.
Giant Leap recognised that Mindset Health’s business model was highly scalable, with the potential to have a substantial impact on healthcare outcomes, while providing attractive financial returns to investors.
Features
- Giant Leap’s funds are designed for investors who want to make a positive social or environmental impact.
- It manages 2 ESVCLPs and has more than $65 million in funds under management.
- Giant Leap has invested in 30 companies, across sustainable living, health and wellbeing, and empowering people.
How the Australian Government has helped
The Australian Government’s ESVCLP program has made it easier, through its tax incentives, for Giant Leap to attract investors. The program also supports networking opportunities for investors and investee companies and enables investors to work closely with investee companies, offering support and advice.
The ESVCLP program is helping Australia to position itself in a growing economy of future relevance. It’s helping Australian businesses move away from traditional sectors that are in decline and move into the knowledge and innovation economies.
Rachel Yang, Partner at Giant Leap, believes that the program also contributes significantly to the growth of the economy:
The ESVCLP program incentivises investment in early stage businesses in Australia, stimulating growth in innovation and new technologies that will help shape the economy of the future. It has also facilitated the launch of Giant Leap, Australia’s first 100% impact focused venture fund, boosting funding for mission driven founders solving the world’s most pressing problems.
Further information
Giant Leap has assisted Mindset Health through its fund registered under the Australian Government’s Early Stage Venture Capital Limited Partnerships (ESVCLP) program.
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