2022: a year in review

Reflections from our CEO

At the end of each calendar year, as we count down the final seconds, there’s an anticipation of excitement about what’s around the corner. Hope for the best, courage to overcome the worst. As we turned that corner into 2022, there was hope for a different year to the previous two and yet few of us were anticipating war, energy shortages, supply chain uncertainty, 7.8% inflation, 325 basis points in interest rate rises, floods, and record low unemployment.

As I reflect on the year that was, against this backdrop, I’m encouraged by the entrepreneurialism, innovation and resilience that Australian small-medium businesses have yet-again demonstrated. Through the calendar year 2022, we continued to see strong demand for growth capital from the technology and manufacturing sectors, with increasing demand from the retail and professional/business services sectors. Through the year, we observed the level of investment required by these businesses increased, with the primary use of investment being for working capital, acquisitions, increasing production capacity and fast-tracking product development.

Within our own portfolio, we made six new investments and hit an important milestone with total investments exceeding $100 million.


With these investments, businesses have been able to acquire new businesses, build their internal capabilities, enter adjacent sectors, invest in new equipment, and enhance their go-to-market strategy. Many have since been recognised for their strong growth and as leaders in their respective fields.

None of this would have been possible without the unique public-private partnership model that ABGF is founded on. Established to address the lack of depth in the market for long-term patient growth capital for SMEs, ABGF leverages government and private sector capital, with the purpose of supporting SME’s to scale and in turn create jobs, economic growth and support for Australian entrepreneurship and innovation.

Now, as we enter 2023, we once again feel the anticipation of possibilities. And while headwinds will continue to provide challenges for SMEs, I believe the entrepreneurial spirit of Australian-grown businesses will prevail and drive more innovation and success in 2023.

Anthony Healy
CEO and Managing Director, Australian Business Growth Fund

Where demand for growth capital is coming from

This is a summary of the businesses that have reached
out for growth capital through the calendar year 2022.

We continue to see strong demand for growth capital from across multiple sectors and geographies. Investment from ABGF enables small-medium businesses to scale faster while retaining control.

Anthony Healy, Managing Director and CEO ABGF

My advice to anyone that’s looking for funding is to make sure that you partner with someone beyond capital, someone that will challenge you to make the right decisions about the business.

Evan Montero and Liam Dobson, Co-Founders DIY Blinds


While the primary purpose of our investment is to fund growth, ABGF funding can partially be used to either buyout existing shareholders or to take money off the table.

Patrick Verlaine, Co-Head of Investment ABGF

The businesses we have invested in

This is a summary of all the businesses within ABGFs investment portfolio.



ABGF are well attuned to our industry, the legislation and our vision. They are really helping to develop our growth strategy.

Chris Sayers, Founder and CEO Scipher