Australian VC Square Peg Capital raises $242m from pension funds

Sydney Opera House, Sydney, Australia. Photo: Holger Link/Unsplash

Australia’s largest pensions backed Square Peg Capital Pty’s latest funding round as the firm looks to boost investments in startups joining the wave of innovation sparked by the coronavirus.

AustralianSuper Pty and Host-Plus Pty were among investors in Square Peg’s A$350 million ($242 million) funding round targeting early-stage technology companies, the Melbourne-based firm said in an emailed statement Tuesday. The raise makes Square Peg Australia’s largest venture firm, with more than A$1 billion under management, it said.

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