Welcome to our new column by Main Sequence Ventures partner Phil Morle. Every fortnight Morle will share his wisdom and insights with Startup Daily readers and also discuss it on the Startup Daily show. His first column is part of the Venture Capital Primer for Scientists series, based on hundreds of workshops he’s given during… Read more »
Auckland-based VC Icehouse Ventures has raised its first NZ$5 million towards a $20m target to invest in women-led startups. The new ArcAngels Fund II is Aotearoa’s largest fund investing exclusively in female-founded and led ventures. Theresa Gattung, Chair of Global Women and the Kiwi lead for women entrepreneur initiative SheEO, is a cornerstone investor in… Read more »
Over the last few weeks, I’ve been having conversations with several founders about employee share ownership plans (ESOPs). An important ingredient of many fast-growing startups, ESOPs are used to align key team members to the long-term success of the business by providing them with exposure to the growth in equity value of the startup. Once… Read more »
The age of fintech for investors is shifting to climate tech startups in 2022, a landmark report into Australia’s startup ecosystem reveals. The inaugural State of Australian Startup Funding report, from Folklore Ventures and Cut Through Venture, has analysed data from more than 800 Australian founders and startup investors for a comprehensive look into the… Read more »
Insurance conglomerate IAG is backing a new $75 million venture capital fund to invest in early startups for its VC arm, Firemark Ventures. The insurer, best known for NRMA Insurance, launched its first fund in 2016 through Firemark. It invested in 18 startups in 33 rounds, including cybersecurity firm UpGuard, satellite Internet of Things creator… Read more »
Atlassian co-founder Mike Cannon-Brookes has backed renewables funding firm Infradebt with $200 million from his private family VC firm Grok Ventures. The funding announcement emerged less than 48 hours after Cannon-Brookes had a $5 billion takeover offer for energy supplier AGL rejected as undervaluing the business by the company’s board. Infradebt is a specialist infrastructure project finance… Read more »
A new Fund-of-Funds venture capital firm, formed by veterans of the super fund Hostplus VC team, has been chosen by the Victorian government to build LaunchVic’s $120 million Victorian Startup Capital Fund (VSCF). Neil Stanford and Brighid Pappin have created V-Ignite to turn $60 million from the state government into $120 million for the VSCF.… Read more »
Climate tech venture firm Aera VC has raised US$30 million (A$42m) in the first close of its new fund to back startups addressing sustainability and global warming. The new climate-focused fund has already backed Michael Fox’s alt-protein business Fable Foods, along with US-based chemical decarbonisation unicorn startup Solugen (valued at US$1.8bn) as well as Shiok Meats… Read more »
The Australian non-profit Ocean Impact Organisation (OIO) is launching an Ocean Impact Accelerator Program and VC fund to back startups with solutions to transform the health of the seas. OIO has already seen startups and entrepreneurs in 45 countries contact them via programs such as the Ocean Impact Pitchfest, Ocean Impact Ideation Program and the HP… Read more »
We’ve now made 14 investments, and in almost all cases Galileo was the first VC investor in each startup’s pre-seed or seed round. We’ve backed some compelling early-stage companies and are on the hunt for more. If you’re raising your first round, you should apply now. A common pattern I’m hearing in some early-stage founders… Read more »
Venture Capital firm AirTree Ventures has a new $700 million war chest as it looks to ramp up its backing for early stage startups. Pulling the cash together took just three months, with leading local and international institutions, endowments and foundations signing on. The announcement comes ahead of rival VC Blackbird confirming its new $1… Read more »
As share markets continue to slide in a sell-off that has seen tech stocks take a beating, Australian venture capitalists remain optimistic that funding for local startups won’t dry up amid the panic. Last year set a record for venture capital (VC) funding in Australian and New Zealand startup companies which pulled in a total… Read more »
‘A rising tide lifts all boats’ is a saying popularised US President John F. Kennedy. It’s a reference to everyone winning when the economy is strong. For many investors, 2021 has been a king tide. And this month, the good ship Blackbird, the Australian venture capital firm, revealed just how rising valuations in the companies… Read more »
Sydney venture capital firm Investible has closed its second early-stage investment fund oversubscribed, with AU$51.6 million in committed capital. The VC hit $35 million for the Fund 2 in June. The final figure more than doubles the $22.5 million raised for Fund 1 in 2019, delivered in 9 months – half the timeframe of its… Read more »
FinTech Australia has released a new map for fintechs detailing investors in the sector. The map showcases investors from across the country, featuring a variety of funders including venture capitalists, angel funds, corporate investors, crowd-funding options and incubators. It’s available for free for people in the fintech and startup communities. The map is free to… Read more »
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