Find answers to commonly asked questions about investing with TEN13.
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When an opportunity launches, you'll receive direct links via email and SMS, or see it by navigating to Active Deals in The Hub. Click through to read the full Deal Memo, which includes our investment thesis, terms, fees, timelines, and more.
In the right hand panel (on Desktop), against the Deal Memo, you will see a section entitled Request Allocation. Here you will see your onboarded entity/ies. If you'd like to request an allocation in the round, hit Invest against the entity of your choosing, enter your desired amount, confirm the Disclaimers and hit Submit. Once submitted, you will receive an email notification for your records. Repeat to request allocation for additional entities.
The Deal Memo is our comprehensive overview of each investment opportunity. It includes the following information and more:
Think of it as your decision-making document for each opportunity.
Investment opportunities launch on a rolling basis throughout the year - typically 12-15 opportunities annually. You'll receive an email and SMS alert the moment a new opportunity goes live. There's no set schedule, so keep notifications turned on, and mark emails from TEN13 as important (or similar) to help prevent them from going to spam.
We have created The Hub so that investors have access to company Deal Memos and investor updates for investments they've participated in.
As we grow and gain more investors on our platform, we have managed the increased risk of improper disclosure of confidential information by removing the ability for investors to individually store investor memos or updates as PDFs on personal computers. The Hub is the central information point for all of these communications. Reach out if you have questions or have needs for a PDF version.
Unfortunately, you can only change your allocation request during the allocation period. Once it closes, we move to bookbuild including scaleback. Allocations are locked in for each investor down to the actual share and dollar amount, so they are not flexible once finalised.
Yes, you may amend your allocation request any time up until the allocation request deadline. After the deadline has passed, your request becomes a firm commitment and we will reserve the allocation for you, subject to any scale-back in the case of an oversubscription. You are then obligated to accept the allocation by signing the Investment Schedule. Once signed, you are contractually bound and must remit payment strictly by the due date.
All capital is collected in AUD, regardless of the investment currency. For USD opportunities, we enter into a forward FX contract with a third party and call capital from TEN13 investors in AUD to settle the investment. We secure a competitive exchange rate and your Investment Schedule will show the exact AUD amount payable.
You'll receive an email stating that your Allocation Request has been received, and an Investment Schedule via email once allocations are finalised. This document confirms your final allocation amount and includes payment instructions.
If a deal is oversubscribed (i.e. more capital is offered by our investors than we have been able to secure in the round), we sometimes can negotiate additional allocation from the company. If the capital offered by investors still represents an oversubscription, we will scale back your requested amount proportionally to all other investors.
In the case of follow-on rounds, any investors who are already security holders via TEN13 will have a percentage of their request guaranteed (Guaranteed Allocation), i.e. up to a certain amount won't be scaled back. Note that your Guaranteed Allocation is not pro-rata to your ownership in the company, it is pro-rata to your ownership amongst the existing TEN13 investors. If you would like to request more than your Guaranteed Allocation, you may do so via the allocation request form, and your request will be treated in accordance with our TEN13 allocations policy.
Investment windows typically run 3-7 days, though this varies by opportunity depending on the dynamics of the specific investment round. The exact deadline is clearly stated in the top banner of each Deal Memo. Our allocation request windows move quickly, so review opportunities as soon as they launch, to avoid missing out.
TEN13 works with very tight timeframes, and it's imperative that funds are in our bank account by the due date. We'll send reminders and will contact you if capital hasn't arrived by the due date.
In some cases there may be some flexibility, but generally we're working to wire money to the company and finalise the deal within the provided timeframe. If you need to pull out after the deal window closes, please let us know as soon as possible as this creates significant challenges for us and impacts all other investors in the deal. TEN13 reserves the rights to limit future deal access for investors who repeatedly fail to honour their commitments.
No problem. There's no obligation to invest in any particular opportunity. You can sit out any deal that doesn't fit your investment strategy or if the timing isn't quite right. Note, however, that priority is most often given to existing investors when making allocations in any follow-on rounds. See below.
Once allocations are finalised, you'll receive an Investment Schedule to e-sign (via Docusign). Payment is due by the due date specified on that schedule. Payment details, including BPAY and EFT options, are included in the Investment Schedule. Please note that transferring via BPAY can take 24 hours to land in our account, so please keep this in mind when looking to meet the payment deadlines.
Once the allocation window has closed, it can take several days for our bookbuild procedures to be completed. Once complete, an email notification will be sent informing you of any scaleback amount and the expected date for Investment Schedules to be sent. Your final allocation for a deal, and capital call instructions, are available via the Investment Schedule.
Payment details can be found on page three (3) of your Investment Schedule. The schedule is sent to you via Docusign and includes your unique BPAY reference number as well as the final amount owing.
You can download your Portfolio Statement via the Reports page in the Hub. There is a report for each of your entities which can be downloaded as a PDF or Excel file. Reports contain cost base, securities held, current valuation (for equity holdings), returns information, fees paid, ESIC information (if relevant), links to invoices and Investment Schedules, and any other relevant information.
Portfolio companies typically provide quarterly updates, though some companies update monthly while others may fall behind schedule. On average, you should broadly expect quarterly updates. Updates are published in The Hub as they're received and you will receive email notifications when they are shared. In some cases, TEN13 will provide additional commentary to supplement company updates.
Click "Forgot Password" on the hub.ten13.vc login page. You'll receive a reset link via email. You can also use the Magic Links for easier login access.
Navigate to the Portfolio section in The Hub. You'll see all your current investments, including company updates and valuations.
TEN13 is a nominee structure holding assets on bare trust for investors. We therefore do not issue a specific tax statement because the tax treatment flows through to you as the investor. A portfolio statement containing all the information you will need for completing your income tax return is available in the Hub under Reports. You will be advised each year when these statements are tax-ready, typically 4-8 weeks after the end of the financial year. This allows us time to confirm that the portfolio valuations are in line with our valuation policy.
TEN13 acts as the investment manager and manages all corporate actions on your behalf in accordance with the Investment Management Agreement. In some cases, TEN13 may also act as a portfolio company Director of Board Observer.
TEN13's Valuation Policy marks holdings to market, either upwards or downwards, based on the most recent equity financing round. Adjustments must meet a "Materiality" threshold and originate from arms-length transactions. Materiality is determined by TEN13 Management.
This applies to equity holdings. SAFEs and Convertible Notes are not revalued.
Valuations are updated in accordance with the TEN13 Valuation Policy, and usually occur when material events occur, such as new funding rounds. You can view current valuations in your Report section in The Hub.
When you invest via TEN13, lots of things happen in the background. After we close the deal round, process over or under subscriptions (sometimes by requesting a larger allocation from the company), collect investor capital, and complete a few more steps, we then have to execute the core transaction documents with the company. This could take the form of a shareholders agreement and subscription agreement, depending on the nature of the investment round.
The time between TEN13 closing a round and the investment completing with the portfolio firm can be days to weeks. This delay is caused not just by the process of exchanging and signing transaction documents (per above), but also typically by the timeframes of other investors in the deal, as more often than not we invest alongside other investors.
TEN13 will issue a Notice of Completion (NOC) once that process is fully complete. You will receive this via email. Once you have received this, the deal is officially finalised and you should now be able to see that portfolio company in your dashboard.
Failures and write-offs are communicated via email through Portfolio Company updates, which include TEN13 commentary. We also endeavour to arrange a video call with the founder to discuss lessons learned, where possible.
You may be able to claim capital losses for tax purposes, and we will look to get appropriate documents to you to help facilitate that. We recommend consulting with your tax advisor about the specific implications for your situation.
Investor rights are negotiated on a deal-by-deal basis and detailed in the terms section of each Deal Memo. We usually seek to secure, where possible:
Specific rights vary by deal and are clearly outlined in each investment opportunity.
Yes, you may update bank details securely under Preferences in The Hub. When bank details are updated in this manner, all authorised contacts on the account will be notified by email.
Yes. Please email [email protected] and we will make the adjustments requested. For security purposes, we may ask you to verify your identity before making changes.
Email [email protected] with the details of the person you'd like to add. We'll guide you through the verification process and grant them access to your investment entity on The Hub.
Email [email protected] to begin the process. You'll need to complete a separate onboarding process for each entity, including providing supporting documentation.
No. Radar, Scout, and Co-Pilot are optional programs designed to enhance your TEN13 experience. You can participate in all, some, or none of them.
Know a startup we should take a look at? Navigate to the Scout tab on The Hub and send us all relevant information. If we invest and the company succeeds, you earn 5% of our carried interest on that investment. Full terms and conditions are available on the Scout page in The Hub.
Navigate to Co-Pilot in The Hub and make an introduction. You will be copied on an email to the person you refer, and our Investor Relations team will reach out to them.
You can view the full terms and conditions in The Hub.
Radar connects your expertise with founders in our portfolio who need specific help. You create a profile sharing a blurb on your skills, interests, and how you can add value. When there's a strong match, we facilitate introductions.
For every member that onboards to TEN13 that you refer, they get 20% off management and setup fees on their first deal. After they invest, you (as the referrer) get 20% off management and setup fees on your next deal, or you can access a $500 gift card.
Some events allow guests, others are members-only. Guest policies are specified in each event's details. Not sure? Reach out to us at any point and we're happy to help.
Log in to The Hub and navigate to the right panel. Should we have an event currently accepting registrations, it will be viewable there; just click on any event to see details and register. You can also register via links in event invitation emails.
TEN13 members are invited to our exclusive events, including:
Event invitations are sent via email and posted in The Hub (via Luma).
Founder assessment is crucial to our investment thesis. As part of our due diligence, the TEN13 investment team spends significant time with founders and their teams. We share our assessment in the Deal Memo and typically record a 'Meet The Founder' video - a fireside chat to help you understand their background and vision.
We discourage investors from reaching out to founders directly during the deal process. If you do have a specific question about the founder or company, please reach out to [email protected] as we will be able to answer any questions not explicitly addressed in our Deal Memo. However, we're happy to facilitate introductions through our Radar program where there's mutual benefit and double opt-in.
Over time, we love connecting our investors with our founders through investor/founder mixers and site visits.
All questions should be directed to TEN13 at [email protected]. If for some reason, we don't know the answer, we'll coordinate with the company and provide you with answers. We love your questions, so please don't hesitate in reaching out.
We welcome your feedback. Email [email protected] with suggestions, concerns, or ideas. We regularly review feedback to improve the TEN13 experience. We also send Quarterly customer surveys which are a useful regular platform which we then package and share with investors.
Email us at [email protected]. We typically respond as soon as we can.
Yes, you can invest through most entities including personal, a company, or a trust, including a Self Managed Super Fund. You can onboard as many entities as you'd like. We require supporting documentation for each entity, such as ID documents, Sophisticated Investor Certificate, and a certified trust deed for a trust.
Yes. Under the Corporations Act 2001, the certification that you are a Sophisticated Investor must be provided by a Qualified Accountant. You'll need to provide your income/asset information to a Qualified Accountant for them to verify your status. We're happy to send a Sophisticated Investor Certificate template to your accountant for signing if this is helpful. Please ensure this is dated (within the past two years) and in the name relevant to the entity you are applying under.
Yes. We ask investors to provide an updated Sophisticated Investor Certificate every two years from the date your accountant signed it. This is because financial circumstances can change, and individuals may no longer qualify.
Your Qualified Accountant will need to be a member of one of the eligible professional bodies as defined by ASIC (see here: https://www.asic.gov.au/regulatory-resources/financial-services/financial-product-disclosure/certificates-issued-by-a-qualified-accountant/). You'll need to provide your income/asset information to a Qualified Accountant who can assess your status pursuant to Chapters 6D or 7 of the Corporations Act 2001. We can share a sample Sophisticated Investor Certificate template to send to your accountant for electronic signing. We can also share details of some Australian accountants who may be able to help if needed.
The minimum allocation is A$10,000 for AUD opportunities and US$7,500 for USD opportunities, other than for follow on investment rounds. There is no maximum investment amount.
Note: In cases of oversubscription, allocations may be scaled back at TEN13's discretion, which could result in a final allocation below the requested minimum.
TEN13 offers investment to wholesale clients only. To be eligible for membership, you will need to qualify as a Sophisticated Investor under the Corporations Act by meeting either the:
To verify your status as a Sophisticated Investor, you will need to provide a Sophisticated Investor Certificate signed within the last two years by a Qualified Accountant. The certificate must be in the name of your investment entity or in the name of an individual who has 'effective control'. See more details here: https://www.asic.gov.au/regulatory-resources/financial-services/financial-product-disclosure/certificates-issued-by-a-qualified-accountant/.
No, these investments are illiquid. We may participate on the sell side in secondary rounds for later stage investments (broadly Series B and beyond) where there is significant secondary buyer interest, enabling our investors to access liquidity when available.
Outside a formal secondary round, we may help administer the sale or transfer of assets if you find another buyer who qualifies for TEN13 membership. A small administration fee applies, and this will trigger a Carried Interest payment if applicable.
Investing in early-stage companies is risky. There is a chance you could lose 100% of your original investment, despite our and the company's efforts. We recommend that you take a portfolio approach to spread your risk across multiple investments to manage downside risk and maximise your chance of solid returns.
Venture capital typically has long hold periods. Depending on the stage you enter at, you could expect a 7-10+ year hold period, though this varies by individual investment.
Venture capital investments are high-risk, illiquid investments in early-stage companies with significant growth potential. Investment returns typically come from successful exits (acquisitions, secondary sales, IPOs, etc), though many investments result in partial or total loss of capital. Successful exits and investment returns are not guaranteed.
If you decide to invest $10,000 into a company (this is known as your Investment Amount and includes the Subscription Amount and Upfront Fees):
Let's assume the value of your holding has increased from $9,009.01 to $100,000 at the time of exit. You would receive the new value of your holding less the TEN13 Carried Interest fee and any Recoverable Expenses. The Carried Interest fee is calculated as 20% of the gain in excess of your original Investment Amount and any Recoverable Expenses. In this case it would be:
So you would receive $100,000 less $19,800 = $80,200.
There is no fee to join the TEN13 platform and start receiving investment offers. Fees only apply in relation to any investment you decide to make. Standard upfront fees are collected at the time of investment, and carried interest fees are deducted prior to distribution on exit.
The fees applicable to each deal are:
See below for alternative fee structures for investment amounts over $250,000.
We pride ourselves on backing excellent companies and assessing investor demand accurately. In the very rare event that we fall short of our target, we may negotiate a lower investment amount with the company in order to complete our investment.
Should a deal not close, all funds will be returned to investors, and we will ask you to verify your bank details via The Hub.
For investments over $250,000 in a single round, we can structure the upfront fees to be paid annually over several years instead. This fee model is more akin to a VC Fund fee model (e.g. 2% pa for the life of the fund/asset). Please reach out to [email protected] to discuss these details.
Occasionally, a company will qualify as an Early Stage Innovation Company (ESIC) at the time we invest, enabling eligible investors to potentially take advantage of the tax benefits. ESIC information is noted in the deal memo and relevant documents are attached to your Investment Schedule on completion of the round.
Companies generally only qualify as an ESIC in the very early rounds so these opportunities represent only a small percentage of our annual deal flow.
For an investor to be entitled to the tax incentives, see: ATO - Tax incentives for early stage investors.
We currently do not operate an ESVCLP (Early Stage Venture Capital Limited Partnership), so we do not participate in those incentives. The ESVCLP structure is not relevant for TEN13 investors as we operate a deal-by-deal model rather than a fund structure.
We recommend all investors seek their own tax, legal, and financial advice regarding their specific circumstances.
You can download your Portfolio Statement via the Reports page in the Hub. There is a report for each of your entities which can be downloaded as a PDF or Excel file. Reports contain cost base, securities held, current valuation (for equity holdings), returns information, fees paid, ESIC information, links to invoices and Investment Schedules, and any other relevant information for tax purposes.
Tax documents are typically available 4-8 weeks after the end of the financial year (30th of June). You can access them by navigating to Reports in The Hub.
A Simple Agreement for Future Equity (SAFE) is an increasingly common investment instrument used by companies to raise capital that originated in the US venture capital industry and has proliferated around the world, including Australia.
A SAFE has similar characteristics to a convertible note, which may also feature a 'valuation cap' and/or a 'discount'. An investment made via a SAFE typically converts into shares during a Qualifying Financing Round, which is usually the company's next priced round.
Some notable differences to a convertible note is that SAFEs do not typically bear interest or have a fixed maturity date.
You can read more about SAFEs here: Y Combinator documents.
We look for:
While we are industry and vertical agnostic, we like to invest in companies with disruptive technology and business models.
For examples of companies we've invested in, you can read our investment notes at www.ten13.vc/blog.
TEN13 handles all the heavy lifting for you:
We hope that these FAQs will help you gain better insight into how TEN13 operates. Please note that these FAQs are current as at March 12, 2026 and TEN13 reserves the right to change them at any time as required. For definitive terms and conditions, please refer to your Investor Management Agreement, Nominee Services Deed, and Confidentiality Agreement.
Our team is here to assist with any questions.