An Early Stage Venture Capital Limited Partnership “ESVCLP” is a specialised investment structure governed by an often complex combination of the Venture Capital Act 2002 (Cth), the Income Tax Assessment Act 1997 (Cth) and the Income Tax Assessment Act 1936 (Cth).

Steven has been an adviser to the market on the ESVCLP program since its commencement and is an expert on the complexities of the ESVCLP application process and governing legislation.

Click Here to Read our Plain English Introduction to ESVCLPs by Steven Maarbani:


As a partner at PwC, Steven ran a number of briefings in various states and produced a number of pieces of thought leadership in relation to the ESVCLP program. He is also regularly called upon to give specialist advice in relation to early stage venture capital structures and, where appropriate, to advise in detail about the applicability of the ESVCLP structure. Steven’s detailed understanding of the ESVCLP structure also means that he is regularly advising parties that their proposed investment strategy does not align with the policy intentions of the ESVCLP program, thereby reducing the number of inappropriate applications and saving clients time and money.

Steven’s work in establishing a large number of the ESVCLPs in Australia, along with his continuing working relationship with Innovation Australia over the years, has given him an intimate understanding of the policy objectives of the ESVCLP program which ensures no time will be wasted establishing your new fund.

As a result of his experiences with some of Australia’s leading ESVCLPs and Australia’s only Australian venture capital fund of funds, he has developed valuable experience and intellectual property in relation to: the technical aspects of these programs, the operational challenges of the fund managers and the policy focus of Innovation Australia, all of which will be applied in assisting you with your new fund.

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