Former JP Morgan Chase banker Ryan Holsheimer has started a new venture capital fund in Australia’s Gold Coast to invest in tech startups across Asia and globally.
Admiralty Capital Group is sector agnostic and will invest across early- to growth-stage companies, it shared in a press statement. The firm’s investment thesis revolves around innovation, scalability, and positive impact.
Prior to launching Admiralty, Holsheimer spent more than 25 years as an investment banker covering Australia and the Asia Pacific. His past stints include leadership roles at Goldman Sachs, Bank of America Merrill Lunch, as well as JP Morgan’s head of Asia Pacific cash equities and equity distribution. After spending several years in Hong Kong and Tokyo, he moved back to Australia in 2022.
Admiralty Capital Group will be based in Gold Coast, Queensland, a city with a thriving hub of entrepreneurs, said Ryan Holsheimer who serves as CEO.
“Deep talent fuels our city’s innovation, especially in the technology and property sectors but now in fields even more diverse, including healthcare, sport, and professional services. With global guidance, these innovators can make a worldwide impact. After 25 years, I see the Gold Coast as a thriving hub of progressive, hard-working entrepreneurs ready to conquer the world,” said Holsheimer in a statement.
“Our strategic approach fosters long-term value creation, where we will aim to deliver exceptional returns while driving positive change in the communities we invest in,” he added.
According to a Bloomberg report, Admiralty will begin fundraising over the next two months and is aiming to fully close its fund by the end of June. No target corpus was disclosed.
The firm has already made some investments including Asia-based Web3 and blockchain firm BlockTrust along with Feasly, an Australian property technology company. It is targeting a 20% return a year net of fees, according to the report.
Admiralty will also grow its team to 10 people by the end of this year and aims to eventually launch a fund of hedge funds later this year as well.
