The latest in the dealscape in Australia has seen Sydney startup Sendle secure A$5 million in funding, while Right Click Capital has become the first startup from that country to join Tim Draper’s US$1.8b global investor alliance, even as startup hub Fishburners is opening their China office in Shanghai.
Right Click Capital joins Draper Venture Network
Right Click Capital is a Sydney-based investment firm that specialises in identifying and investing in early-stage Internet-based businesses. It has joined the Draper Venture Network (DVN), a global investor firm alliance encompassing 450 investments and collective assets of $US1.6 billion. The basis of the partnership was laid at the SXSW conference earlier this year, where RCC partner Ari Klinger met with Draper.
This alliance, giving RCC investors co-funding partnership while having the firm’s portfolio businesses presented with international funding options, aims to facilitate access to international networks and opportunities for RCC’s startups.
Draper, having previously invested in the likes of Skype, Hotmail, Baidu or Tesla, had earlier this year raised a US$190m seed fund, with 75 per cent of the funds dedicated to Silicon Valley investments and 25 per cent to be deployed for international investments.
Fishburners open Shanghai co-working space
Australia’s largest startup hub, non-profit co-working space Fishburners, is opening a 50-seat coworking space in Shanghai, their first in China.
The Sydney-based coworking space provider, launched in 2011 and having to this date worked with 620 Australian startups including transport app goCatch and crowdsourcing web platform DesignCrowd, aims to connect Australian businesses to the Chinese market.
In an interview with Technode, Fishburners CEO Murray Hurps shared his belief in the success many of the Australian startups that he hosts can achieve in China, “10-12%” of which are focused on “big data, IoT, health, education or fintech”, though it depends on the ability to work with “local partners”. Fishburners founder Peter Davidson, having moved to China three years ago, and will help with the launch of the Shanghai office.