Australia: AirTree Ventures closes $250m venture fund

AirTree Ventures has closed a venture fund with a corpus of A$250 million ($187 million). This makes it, to date, the largest venture capital fund in Australia.

The limited partners (LPs) of the fund originated from two large Australian superannuation funds and a range of family offices. In addition, to this are a number of high net worth individuals (HNIs).

The fund is managed by Daniel Petre and managing partner Craig Blair and follows the formation of an A$60 million fund in July 2014. This surpasses the A$200 million fund launched by BlackBird Ventures, which was launched in November 2015.

These latest capital commitments raised by AirTree fund will be evenly divided into two funds – the AirTree Opportunity fund and Airtree Ventures 2 Core –  with the first being an opportunity fund targeting later-stage investments and the latter targeting seed, Series A and Series B funding. The ticket size of such investments will range from A$200,00 to A$5 million.

In a blog post, the company explained that Airtree Ventures 2 Core is an A$125 million fund that will “back outstanding Australian founders who are attacking large markets,” with a focus on SaaS and marketplace models. However they will be also be exploring areas such as machine learning, augmented reality (AR), and the internet of things (IoT) as part of the new fund.

In addition to the financial commitment, Airtree also means to deploy operating partners in company and provide ee will continue to mean much more than just capital: we join our companies as operating partners and open up the Airtree Platform to help give them an unfair advantage as they grow.

Its first fund targeted businesses with a profile of being software companies that could rapidly scale. Amongst their portfolio firms are Canva and Edrolo, with the new fund likely to target a similar profile.

In a statement to startup news publication StartupSmart, Blair said, “The drought has broken. There’s a renewed interest in technology and investors who left the space a decade ago are dipping their toes back in the water. The tech ecosystem is being treated seriously again after a decade of darkness.”

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Also Read: 

Australia Dealbook: Startups Xplor and LegalVision secure funding

Asia Dealbook: Japan’s Retty closes $10.5m Series D, Right Fit raises $750k

Singapore’s 90 Seconds raises $7.5m Series A led by Sequoia India

 

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.