Australian venture capital fund Equity Venture Partners (EVP) has completed with $35 million in funding for its new fund to back a fresh group of software startups.

EVP said that about $15 million was raised from existing investors, alongside its investment team and the remainder from family offices and high net worth investors.

The company will make between 10 to 15 investments with its new fund, with initial investments generally in the range of $1 to $2 million, with follow-on potential of an extra $3 million in a period of seven years.

Previously, EVP has raised a total of $25 million in a single venture fund, Equity Microequities Venture fund.