Subclass 132 B Venture Capital Entrepreneur Visa
The venture capital entrepreneur stream of the subclass 132 business talent visa (132B visa) is a one-step permanent residency visa aimed at entrepreneurs who receive at least AUD 1 million in funding support from an Australian venture capital fund manager who is a Venture Capital Member of the Australian Private Equity and Venture Capital Association Limited (AVCAL). While these venture capital entrepreneurs are expected to have been successful in business, they are not required to have a history of holding large ownership interests in companies. The venture capital entrepreneur must intend to hold a substantial ownership interest (at least 50%) in the Australian business and have a legally-binding agreement with the venture capital fund manager who is providing the investment of at least AUD 1 million. This is the main requirement for the 132B visa but more detailed information about it is provided in this table.
Southmore can assist 132B visa applicants with further developing their innovative and entrepreneurial ideas and with providing the required venture capital funding to establish and expand operating businesses in Australia based on the jointly refined and elaborated ideas. Southmore has been an AVCAL Venture Capital Member since 2006 and is currently only one of about fifteen venture capital fund managers holding this membership.
Southmore is proud to have supported the first successful application for a 132B visa (which was granted in early 2014).
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