Source: Australian Financial Review, 29 Nov 2011

Melbourne-based online start-up TheAgendaDaily.com says it will focus on expanding its CRM strategy after receiving funds from Domenic Carosa’s Future Capital Development Fund.

Led by Blake Hutchison, TheAgendaDaily.com offers customers handpicked recommendations and curated private sales, with a focus on restaurants, nightlife, shopping, style and leisure.

Recommendations are reserved for new and unknown offerings in a local context, while private sales seek to deliver optimum engagement for local experiences.

TheAgendaDaily.com operates in Melbourne, Sydney and Perth. Following an investment from FDCF, it plans to hire more salespeople across the country.

FCDF executive chairman Domenic Carosa says Agenda is an attractive investment due to its high quality reviews, loyal and engaged members, and compelling offers of “phenomenal” value.

“We see this as the next and logical evolution in group-buying through coveted lifestyle offers to customers – it’s win-win for members, suppliers and for Agenda,” Carosa says.

FCDF typically invests in fast-growing internet, mobile and technology companies, which have already attracted customers and are generating transactional revenue.

It invests anything from a few hundred thousand dollars to a million, usually taking a significant minority stake. In addition to capital, FCDF offers assistance to aid each company’s expansion.

“With start-ups these days, you can do a lot with a quarter of a million dollars or half a million dollars,” Carosa says.

“My view is that if you spend a little bit of money, you can get something up and running, prove the model and then go and raise the next round of capital.”

FCDF will not invest in a company unless it can be actively involved in providing strategic input, relationships and practical operational support.

As such, Agenda will relocate its headquarters to the FCDF Melbourne office, where it will join a host of other companies also belonging to the fund’s portfolio.

According to Andrew Fiori-Dea, chief executive of FCDF, the combination of content and commerce on the Agenda website represents a “significant opportunity”.

“Agenda has done a great job building a trusted relationship with members and we intend to assist and accelerate this through collaboration [and] ongoing innovation,” Fiori-Dea says.

Meanwhile, Hutchison says Agenda is “delighted” to have received an investment from FCDF, regarding it is an endorsement of the model’s potential.

“Ultimately, we’re about top places, top product and top experiences,” Hutchison says.

“We believe we have a model which offers great value to members and a superior opportunity for business owners and managers.”

“We will now focus on expanding Agenda in terms of content, experiences and services, aimed at deepening our relationship with members and suppliers.”

Source: http://www.startupsmart.com.au/finance/carosa-puts-melbourne-start-up-on-the-agenda/201111214616.html

BlueChilli, a new incubator brand, is to launch two hubs for tech start-ups in Australia – one in Melbourne next month, followed by a Sydney roll out in January.

BlueChilli has already chosen the 10 ventures for its incubator in the Melbourne suburb of Richmond. It will be looking for a further 20 to 30 start-ups for the hub in Ultimo, a district of Sydney.

The venture is being backed thanks to an undisclosed investment from start-up fund Future Capital. The new incubators will combine all of the two parties’ start-ups as well as back-room staff.

Although it only moved into the start-up accelerator space 12 months ago, BlueChilli has been around as a brand since 2006, when it was founded by former Navy officer Sebastien Eckersley-Maslin.

The business, initially an SMS service, was sold to serial entrepreneur Domenic Carosa before being relaunched as a start-up incubator.

Carosa, who is the executive director of Future Capital, says: “We are impressed by Sebastian’s drive, passion, ingenuity and genuine desire to help BlueChilli’s clients succeed.”

“We believe this attitude is contagious and can only ensure BlueChilli’s success as an incubation engine for Australian internet entrepreneurs. This approach is aligned with Future Capital’s investment objectives and consequently we see enormous synergy between Future Capital and BlueChilli.”

While the scheme will take a “significant minority stake” in the start-ups it takes on, typically around 40%, it will not provide cash in return for the investment.

Instead, a network of more than 20 mentors will provide expert development and technical help in order to prepare the businesses for outside investment within 18 months.

Eckersley-Maslin, who is heading up the project, says: “We want people with the right attitude, who have good ideas and want to launch themselves into it.”

“We will have quarterly hackathons to launch an idea in 48 hours and we will enter into a joint venture with the winner.”

“We’ll also have meetings where everyone has to pitch their business idea and explain the hurdles they face. Everyone can then suggest things to help – if start-ups are just interested in themselves, they aren’t the right fit.”

“A lot of entrepreneurs get funding and then spend all of it on a technical co-founder, when maybe that’s not what is needed. We will first look at what a business needs and them provide the services it needs to grow.”

Despite being the latest in a rash of recent start-up incubators to launch in Australia, Eckersley-Maslin says that the sector still has room to grow.

“I definitely see it going further,” he says. “Gen Y is a collaborative generation. I don’t think we’ll be the last incubator to launch here.”

Those interested in the BlueChilli scheme can find out more information here

Source: http://www.startupsmart.com.au/funding/bluechilli-to-add-two-new-incubators-to-the-start-up-mix/201111184608.html

BlueChilli was founded by Sebastien Eckersley-Maslin, one of Anthill Magazine’s inaugural 30under30 Award winners who for the past decade has been balancing the demands of a full time Naval career, a Masters in Engineering as well as starting BlueChilli. His capabilities are boundless having invented and is co-owner of a patent on autonomous landing systems for military unmanned aircraft. While in 2009, he returned from active duty in Iraq with a drive to storm the ‘front line’ of Australian business with BlueChilli Technology.

Domenic Carosa, Executive Chairman of FCDF stated “We are impressed by Sebastian’s drive, passion, ingenuity and genuine desire to help BlueChilli’s clients succeed. We believe this attitude is contagious and can only ensure BlueChilli’s success as an incubation engine for Australian Internet entrepreneurs. This approach is aligned with Future Capital’s investment objectives and consequently we see enormous synergy between Future Capital and BlueChilli.”

Sebastien Eckersley-Maslin, founder and CEO of BlueChilli stated “I have singlehandedly built BlueChilli to this point but I’m passionate about reaching out and playing my part in the promotion of Australia’s entrepreneurs and in building innovative online ventures. With Future Capital’s support I can now accelerate this and grow exponentially with a partner and investor that is aligned to my vision.”
Andrew Fiori-Dea, CEO of FCDF stated “Sebastien has an enviable client list, excellent partnerships and investments, as well as leading technologists as part of his team. We are confident that together we can play a role in transforming Australia’s technology and investment landscape with our
investment in BlueChilli.

BlueChilli now joins 12 other fast growing companies as part of the Future Capital portfolio and will be headquartered in dedicated Sydney premises housing both Future Capital investments as well as incubator companies associated with BlueChilli. It is expected that this will become a hotbed for innovative Internet companies in Sydney with plans for the same in Melbourne.

TheAgendaDaily.com currently offers private sales and hand picked member recommendations across 3 major capital cities in Australia (Melbourne, Sydney and Perth) with plans for further expansion and evolution following Future Capital’s investment.

Domenic Carosa, Executive Chairman of FCDF stated “we like Agenda as it combines high quality reviews, loyal and engaged members and compelling offers that really represent phenomenal value without sacrificing supplier margins. We see this as the next and logical evolution in group buying through coveted lifestyle offers to customers – it’s a win win for members, suppliers and for Agenda.”

Blake Hutchison, founder and CEO of Agenda stated, “we are delighted to have received Future Capital’s investment, it’s an endorsement of the model’s potential. We will now focus on expanding Agenda in terms of content, experiences and services aimed at deepening our relationship with members and suppliers. Ultimately, we’re about top places, top product and top experiences; we
believe we have a model which offers great value to members and a superior opportunity for business owners & managers.”

Andrew Fiori-Dea, CEO of FCDF stated “the convergence of content and commerce represents a significant opportunity. Agenda has done a great job building a trusted relationship with members and we (FCDF) intend to assist and accelerate this through collaboration, ongoing innovation and diversification.”

Agenda now joins 13 other fast growing internet companies as part of the Future Capital portfolio and will be headquartered in the Melbourne offices which over the last 12 months has become a hotbed for innovative internet companies in Melbourne.

• TheFarmTrader is an agricultural and product tender site for farmers and rural communities across Australia.
• RentABin is an easy to use nationally operating booking system for the hiring of skip bins for commercial and domestic waste removal.
• GetMeInform delivers a cloud based business management solution for health and fitness professionals covering scheduling, CRM, accounts and marketing management.

Domenic Carosa, Executive Chairman of FCDF stated “we continue to find new economy investment opportunities that have the potential to transform old economy business models. These are exciting businesses operated by passionate founders with strong potential to transform their respective markets. Each offers simple but compelling services that drive down costs while delivering convenience and value for their respective customers. We welcome these companies to the Future Capital investment family.”

TheFarmTrader allows farmers to put their farm supplies to tender and accept the most compelling prices and offers from suppliers around Australia.

RentABin takes the hassle out of getting a quote and ordering a skip bin. Every week, Australian businesses and homes generate tons of rubbish for removal. Now they can order and organise its removal quickly and easily.

GetMeInform makes it simple for professional trainers to schedule, manage and organise their clientele and business affairs while on the go via their iPad, mobile or laptop.

Andrew Fiori-Dea, CEO of FCDF stated, “we have been negotiating these 3 investments for some time and we are delighted that they have finally joined the fund. These investments hold significant potential and we’ll be working closely with their founders to extract value and maximise their potential.”

“We completed the $5 million raising in just over a week,” said FCDF executive chairman Domenic Carosa, who was in the US this past week.

Mr Carosa was in New York talking with investment advisers about a possible dual listing of the fund next year aimed at raising $20 million to $30 million. He is looking for partners in San Francisco to launch the fund’s online investments in the US, as well as opportunities to take established US online businesses to Australia under licence.

Among FCDF’s portfolio is OurWishingWell.com, which derives 80 per cent of its revenue from offshore, mostly in the US. Mr Carosa is also seeking to hire sales staff to expand the business of MyGuestList in the US. FCDF invests in young, fast-growing internet, mobile and technology companies that have customers and transactional revenue.

This March, the fund invested an undisclosed amount in PaintMyPicture.com, an online service where consumers visiting a site supply a photo and PMP’s global team of artists hand paint it in oil on canvas.

This was the third investment in internet companies in the past six months, the others being Imorial.com, a memorial site for people and pets, and Eventarc.com, an online booking system for events and ticketing.

Other businesses in the FCDF portfolio included CheapHotels.com.au, SMS Central, Domain Folio No. 1 and Drive My Car Rentals.

Usually the fund invests between $100,000 and $500,000, takes a significant minority stake and works with founders and senior management to expand the business.

“Our pipeline of new investments is looking very positive. Also there is no shortage of new “upstarts” popping up all the time,” Mr Carosa said.

Following the successful capital raising, Andrew Fiori-Dea, who joined Future Capital as commercial director in July 2010 and was previously general manager at MYOB Australia, was appointed chief executive. Mr Fiori-Dea was directly involved in six of the fund’s nine investments in the 2010 financial year.

The company is also assembling an advisory board to provide services to founders and executives of the companies the fund invests in. The latest appointment is former CEO of realestate.com.au, Simon Baker.

Launched in January 2009, the fund raised $2.5 million last year. Shareholders in the latest raising will represent 42.6 per cent of the fund.

Investors tend to be wealthy individuals, internet and public company entrepreneurs. They have included Danny Wallis, co-founder of Future Capital, Mr Baker, and Guy King and Bevan Clark, who sold their website, retailmenot.com, to WhaleShark Media.

Source: Australian Financial Review 12 Jul 2011 PRINT EDITION: 12 July 2011 by Mark Fenton-Jones

Source: Australian Financial Review, Tuesday 17 May 2011

DMCR is online web based service that promotes and facilitates private car rentals, also known as peer-to-peer (“P2P”) carsharing. The company developed anonline platform that connects Drivers with Car Owners willing to rent out their car. By renting privately,Car Owners canoffset some or all of the fixed costs of car ownership. The benefits of the service extend to Car Renters as well, giving them accessto the largest range of rental cars in Australia, with savings of up to 80%, compared to traditional car rental prices.

Domenic Carosa, Executive Chairman of FCDF stated “DMCR is a disruptive business model and has first mover advantage in the Australian marketplace. Offering over 40 car makes across short & long term rentals periods, the company fills a gap in the market not currently serviced by the car rental or automotive leasing sector. We’ve been impressed by Daniel (Daniel Noble, CEO of DMCR) and the team he’s assembled. He’s built what we look for: a strong capable team committed to great technology, service and a business with strong global potential.”

Daniel Noble, CEO of DMCR stated, “We welcome Future Capital as a cornerstone investor. We believe they have the right skills to help build further value in the business”

Domenic Carosa, Executive Chairman of FCDF, is an Internet pioneer and strongly believes that strategically backed ventures like those within the FCDF stable will ride the wave of the next Internet boom.

For further information contact

Domenic Carosa – Chairman of Future Capital – 0411 19 69 79 or email dom@futurecapital.com.au

Daniel Noble – CEO DriveMyCar Rentals – 0422 461 500 or email daniel@drivemycarrentals.com.au

Source: Australian Financial Review