Wednesday, 05 September 2018 10:01

NAB to double venture capital funding with extra $50m over two years

NAB to double venture capital funding with extra $50m over two years Image courtesy of Stuart Miles at

National Australia Bank is topping up its corporate venture capital fund, NAB Ventures, committing an additional $50 million over the next two years to double the total to $100 million.

NAB announced its venture capital fund in July 2015 and the fund was launched in January 2016 with the allocation of $50 million.

NAB Ventures managing director Todd Forest said: “By engaging with, investing in and partnering with leading start-ups, NAB Ventures continues to provide NAB with exposure to best-in class digital capabilities and propositions that will enable it to respond to the radical technology driven changes that are impacting both NAB and its customers.

“Beyond financial capital, we work with our portfolio companies to establish collaboration within NAB and create opportunities to drive positive outcomes for all stakeholders. We are focused on delivering long-term strategic benefits, in working with start-ups from the bottom up and optimising opportunities to drive value into NAB, whether by efficiency gains or enhancing the customer experience.”

NAB Ventures general partner Melissa Widner said, “We’ve spoken to thousands of start-ups, tracked more than 1500 companies and looked at more than 300 serious opportunities. We’re very strategic about the companies we invest in, being those start-ups we truly believe we can help grow and create long-term shared value.”

“Our value is not limited to the dollars we invest; for example, our investment in Medipass Solutions has helped deliver the HICAPS Go ‘Uber-like’ experience, with a seamless digital application that allows patients to locate, book, claim and pay for health practitioner appointments from their mobile device.”

NAB Ventures says it has made 12 investments, with seven investee companies:

Data Republic: In May 2016, NAB Ventures announced its first investment in this Sydney-based start-up. Data Republic has built data exchange technology platform and marketplace where organisations can exchange data and collaborate on projects in a secure environment.

Medipass Solutions: In February 2017, NAB Ventures announced a seed investment in this Melbourne health-tech payment start-up, as well a joint venture with the company on a mobile solution for the HICAPS system. The joint venture culminated in the launch of HICAPS Go, a digital means of booking a healthcare practitioner, obtaining a quote, claiming any out-of-pocket insurance and making a payment.

Veem: In March 2017, NAB Ventures led the funding round of this San Francisco based start-up, alongside the like of Google Ventures and Kleiner Perkins. Veem is a FX platform for B2B global payments that leverages blockchain to offer businesses more transparent, reliable and faster international payments.

Wave: In May 2017, NAB Ventures led a the funding round in this Toronto-based start-up. Wave delivers cloud-based financial management software including accounting, invoicing, and payroll with seamlessly integrated financial services such as credit card processing and lending.

Basiq: In June 2017, NAB Ventures announced a seed investment in this Sydney-based start-up that has developed an aggregation platform for acquiring financial data, providing secure access to hundreds of financial institutions through a simple set of APIs.

ActivePipe: In February 2018, NAB Ventures announced its investment in this Melbourne-based start-up. ActivePipe is an automated marketing platform targeting the residential real estate industry. It leverages data and predictive analytics to manage and personalise communication between real estate agents, mortgage brokers and consumers.

BrickX: In February 2017, NAB Ventures announced its investment in this platform which offers fractional property investment, allowing people to invest in residential properties for as little as a few hundred dollars by purchasing units in an investment trust (known as “bricks”) which owns the properties.


You cannot afford to miss this Dell Webinar.

With Windows 7 support ending 14th January 2020, its time to start looking at your options.

This can have significant impacts on your organisation but also presents organisations with an opportunity to fundamentally rethink the way users work.

The Details

When: Thursday, September 26, 2019
Presenter: Dell Technologies
Location: Your Computer


QLD, VIC, NSW, ACT & TAS: 11:00 am
SA, NT: 10:30 am
WA: 9:00 am NZ: 1:00 pm

Register and find out all the details you need to know below.



iTWire can help you promote your company, services, and products.


Advertise on the iTWire News Site / Website

Advertise in the iTWire UPDATE / Newsletter

Promote your message via iTWire Sponsored Content/News

Guest Opinion for Home Page exposure

Contact Andrew on 0412 390 000 or email [email protected]


Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).



Recent Comments