Medical technology was a major theme in startup funding this week, with Synchron and Lumonus AI raising hundreds of millions for their forward-thinking solutions. We also counted funding deals from Australian startups that have found new ways to clean ships, improve cattle breeding, provide gifts, and support parents and carers of neurodivergent children. Keep reading… Read more »
VC may be in a global funk, but Australia’s still stockpiling cash. New data show a 7 % jump in venture assets to A$17 b, strong AI deal growth, and younger founders dominating new‑business creation. There is hope this shows the local ecosystem has firepower and fresh blood even in a down market.
Seven venture capital firms will look to invest up to $150 million in Western Australian startups underpinned by a $45 million commitment from the state government’s WA Venture Capital initiative (WAVC). Premier Roger Cook announced an additional $15 million for WAVC at West Tech Fest in Perth, topping up the government’s initial $30m commitment. Cook… Read more »
Former JP Morgan banker Ashleigh Greaves has joined boutique Queensland B2B VC Tribe Global Ventures to manage investor relations. Greaves already has a strong track record on that front having spent several years within the Corporate & Investment Bank (CIB) at J.P. Morgan in New York where she managed relationships with hedge funds and quantitative trading managers.… Read more »
Australia’s first dedicated pre-seed venture fund, Maxine Minter’s Co Ventures, has closed its first fund after hitting its $5 million target. Co Ventures Fund 1 is the result of nearly two years of work by Minter, who started fundraising in September 2022, before announcing the launch of her fund in April 2023. The support from… Read more »
Square Peg is raising for a sixth fund, as well as a new “Opportunities Fund 3”, seeking a combined $840 million, but cofounder Paul Bassat has promised more money will go back into investor pockets than they will invest in the years ahead. Twelve years on, Bassat said in Square Peg’s half-yearly update to June… Read more »
A single deal that saw Singapore’s sovereign wealth fund sling $300 million at 15-year-old exchange traded funds (ETFs) manager Betashares in mid-June has plumped up Australia’s venture capital turkey in the final quarter of the 2024 financial year, hiding an otherwise disappointing three months for local startups. Data compiler Cut Through Venture included government-backed Temasek’s… Read more »
In an article published elsewhere last week, the country’s largest VCs were scornful of the local sector’s prospects in 2024. No one is arguing the landscape has become tougher; costs are higher, consumers have tightened their belts, market valuations are subdued. The sector is well aware we have much to prove and big hurdles to… Read more »
If you believe that bad things come in threes, then it was a big week for geopolitics, music and investing. A prominent trio paid the ferryman within days: Henry Kissinger, the controversial former US Secretary of State and security adviser to presidents Nixon and Ford, died aged 100; Shane MacGowan, the charismatic Irish poet and… Read more »
Venture capital can be a solo, transactional game: meeting founders, building conviction, and making a case to an investment committee before allocating capital. Some firms learn how to exploit the aggregated super-power of their whole group to discover unique investments and unlock value. What we don’t talk about enough is how the firms themselves collaborate… Read more »
When it comes to disruption, the COVID pandemic offered a masterclass for startup founders. It was the best and the worst of times, with the acceleration towards a digital economy backed by the tailwinds of what appeared to be unlimited capital… Then suddenly, central banks wrought their own brand of disruption on venture capital with… Read more »
Last week, I explained why, in my first few weeks working in deep-tech VC, I decided to scan the Australian AI ecosystem and talk to more than 50 founders building inspiring and impactful companies in the AI space. If you have not done so, have a read here. In today’s instalment, I will run through… Read more »
Australian startup founders remain upbeat about the future, despite challenging conditions, according to a new survey from law firm Herbert Smith Freehills (HSF), but an overwhelming 97% say the current fundraising environment is impacting their business strategy. Despite startup failures, withdrawals from the Australian market by some global companies and down rounds in capital raises,… Read more »
Airtree has followed in the footsteps of major VCs Square Peg Capital and Blackbird Ventures, cutting the valuation of its holding in tech giant Canva by 36%. The decision drags down the value of its early funds by Sydney investor by 18%. Blackbird and Square Peg had already reduced the value of their stakes in… Read more »
Merger and acquisition deals, along with venture capital investment, have come storming back in 2021 according to a new report from accounting and advisory firm William Buck. The firm’s 2021 M&A and VC Report reveals that M&A deals have jumped in both number and size in the first half of the year to sit 2.5… Read more »
Daily startup news and insights, delivered to your inbox.
