$2B in Venture Capital money in Australia — find out who’s investing
Five years ago, when I entered the local Australian venture scene, there were a handful of funds, active investors and few war stories of successful battles and losses with tech investments.
AngelCube, Startmate, Canva and Vinomofo were all in nappies, Campaign Monitor hadn’t raised their $250M Insight venture round and Atlassian just closed their $60M round from Accel.
Five years on, we have a completely new landscape.
Just to give you perspective, prior to June 2015, the early-stage venture industry had an official number of just under $350M. Since June 2015, there is just under $1.9 billion of new money in the Australian venture industry, with another $800-$900 million announced as raising. That’s a 5–7x uplift in under 18months!
This doesn’t include direct investment from family offices, private-backed venture firms, angel investors, angel-syndicates, private-equity firms that play in this space, and a whole number of SIV focused funds, that have bolted on a VC fund to be SIV-compliant. I could comfortably assume another $400–$800 million from this group.
Congratulations, Australia, the venture industry is now a Unicorn :)
One common question when I speak to founders, advisors, and people entering the industry is who are the players out there for institutional funding? Yes, we’ve heard the big names, but there is a long tail of great funds that should get recognition.
I thought, I’d put a high-level list of the current funds (that I know of) with detail based on public information (sources: AFR, SmartCompany, StartupSmart, Business Insider, The Australian, Crunchbase and Twitter)
Registered ESVCLPs (Early-stage Venture Capital funds)
Note: All ESVCLPs require 80% of their fund to invest in local Australian companies.
Airtree Ventures Fund II $250M
Element 8 $250M
Blackbird VC Fund II $200M
Blue Sky Ventures $200M
Brandon Capital $200M
M. H. Carnegie & Co $120M
OneVentures Fund II $100M
Bailador Tech Investments $77M
H2 Ventures $55M
Our Innovation Fund, LP (OIFVC) $50M (new confirmed by Jerry Stesel)
Sapien Ventures $50M
Mai Capital $50M
Equity Venture Partners $25M
Tank Stream Ventures $20M
BlueChilli Venture Fund $10M
CapitalPitch Partners $10M
Giant Leap $10M (Impact and ESVCLP)
Slingshot Venture Fund $10M
Sydney Angels Sidecar Fund $10M
iAccelerate Seed Fund $10M
ilab Venture Fund $10M
Corporate Venture Funds
PE Funds active in VC
Privately-backed venture firms (non ESVCLP funds)
Arowana & Co
Black Sheep Capital
Clinton Capital Partners
Full Circle Venture Capital
Future Now Ventures
Grand Prix Capital
Raven Ventures Australia
Qualgro $80mln (South East Asia Fund, with Peter Huynh as Australian Partner)
Secured Venture Capital
Transition Level (suggest by Stewart Glynn)
IIG $100M (Solar Fund)
Fund of Funds (FoF)
Funds that are in progress of raising their funds
Square Peg Capital $300M (in progress)
Group of Eight (G08) $200M (in progress)
Alchemy Ventures $200M
Starfish Ventures $200M
Right Click Capital
Signal Ventures $10M (in progress)
Impact Investment Fund $100M (in progress)
I feel this will be a working document and intend to put this in a Google Doc that everyone can access and I can continually add and evolve. Please send me any corrections or additions I may have missed out on.