Salus Ventures launches to focus on commercial and govt markets

Salus Ventures has launched as a dedicated early-stage Australian fund to invest in mission-driven founders developing cutting-edge technologies with critical applications in both commercial and government markets. 

[L-R] Marten Peck, Dan Bennett and Mike Ferrari.

This $40 million venture capital fund will specialise in supporting the growth of Australian early-stage companies that generate sovereign capabilities and a stronger national interest-led technology ecosystem. 

According to the VC fund, the fundraise and launch was initiated to a very strategic and select group of investors in late 2022, which resulted in raising more than half the fund in an eight-week period and Salus Ventures closing its first investment.

Salus Ventures’ co-founders include Dan Bennett and Marten Peck, Bennett has spent close to 10 years as managing partner of global venture investing platform, OurCrowd, and co-founder of Safewill.

Peck is an investment executive with extensive experience in building and operating companies, investment management and property, with a strong focus over the last decade on investing in venture capital.

Combined, Salus Ventures said the founders have a deep domain experience in global venture capital and specifically early-stage deep-tech investing.

Mike Ferrari has been appointed as the managing director and was recently the head of Australia for Salesforce Ventures.

Recently, dual-use technologies have experienced accelerated investor interest, particularly in the US where numerous new funds have emerged as appetite strengthened in government and defence for privately developed innovation.

Salus Ventures noted that examples of high mission value being delivered in Ukraine, like that from SpaceX, have partly contributed to this increased investor interest.

Bennett said, “In today’s dynamic geo-strategic environment, it’s becoming increasingly clear there is a growing need for nations to create sovereign capabilities to safeguard their independent strategic autonomy.

“Rooted in our unique combination of experience, our strength at Salus Ventures is identifying and supporting Australian founders who aspire to solve critically important national challenges through novel innovations in the areas of artificial intelligence and machine learning, cybersecurity and enterprise software, automation and advanced manufacturing, defence and aerospace, public wellness, and other emerging technologies.”

Peck said Salus Ventures has quickly established itself as the ‘go to’ venture fund for founders building innovative and disruptive technology that may have critical positive impact for both commercial and government use.

“Our deep networks and understanding of industry and government will assist and direct our portfolio companies to opportunities both in Australia and around the world. Specifically, we’ll be backing founders and critical technologies with the potential for dual-use application,” he said.

Ferrari said, “While our primary job at Salus is to generate attractive returns for the investors who have entrusted us with their capital, for me personally it is exciting to be able to do that while also returning to the mission of helping the best technologies to make their way into the hands of end-users in critical roles.”