Opportunity Overview 

Venus is an independent Australia agistment cattle operation  

• FYJune’17  Rev: $USD 3.8m, EBITDA: $USD340k; EBITDA margin 10%, RoE 40%
• gained access to over 20 farm properties to graze cattle without the capital investment in farm land

Each year Venus grazes over 3,000 cattle across agistment farms in the south and eastern states of Australia  

• third party farmer is responsible for fences, herd security, water and general animal husbandry

Investment Thesis 

Rapid revenue and earnings growth as a result of Venus’s scalable platform 

• long standing methodology to recruit and retain agistment farms to the network 
• long standing relationships with feedlot operators to sell off weigh gained cattle 
• propose investment in technology to accelerate business development 
• identify quality farm operations to host quality cattle 
• maintain relationship with farmer during agistment period to maximise weight gain 
• buy right, sell right by selecting the best healthy cattle to gain weight  
• sell as a herd to maintain weight gain on arrive a feedlot purchasers  

Strong and identifiable barriers to entry support continued market leadership 

• historic relationships with farmer land owners and buying methodology to acquire  
• systematic approach to stock purchases, animal husbandry and stock divestment has delivered above average returns 
• further investment in technology to increase barriers 

Invest in an independent agistment business growing the sector for an attractive price 

• management has identified further earnings growth opportunities 
• working capital is required to allocate additional personnel and to acquire new cattle stock