Australian VC firm Wunala Capital seeks $71.5m for debut fund

Sydney, Australia. Photo by Liam Pozz on Unsplash

Australian venture capital firm Wunala Capital is seeking to raise up to A$100 million ($71.5 million) for its debut fund that seeks to back pre-IPO and IPO companies in Australia, the USA, and Israel, according to an announcement.

The fund, Wunala Capital Emerging Opportunities Fund, will target a 20 per cent internal rate of return (IRR) by actively managing a portfolio of up to 20 positions. It accepts a minimum commitment of A$100,000 ($71,500) from investors.

Wunala Capital, led by Scott Wilson, a former senior vice president at Macquarie Group, said the new fund focuses on technology, financial services, healthcare, and sustainable energy or transportation.

“We have a particular expertise in supporting companies considering an IPO or other liquidity event within the next 12-24 months, especially those considering an ASX listing,” the firm said on its website.

The firm, composed of four executives, has offices in both Australia and the US.

“We originate exciting investment opportunities in Australia and the US, often before other funds even see them,” the VC said.

Aside from venture investing, Wunala Capital also assists foreign companies considering an ASX listing by guiding them through the IPO process and recommending service providers, such as lawyers and accountants.

Wunala now joins a list of Australian VC firms that have raised or are raising funds to support companies in Australia and New Zealand. Among them is Square Peg Capital, the country’s largest pensions backed VC, which raised $242 million in June. The firm targets early-stage technology companies.

Blackbird Ventures, an early investor in graphic design unicorn Canva, recently secured $356 million for its fourth fund. The firm’s strategy is to invest at the very beginning of a company’s life before there is revenue or a product.

Last month, Australia-based OneVentures hit the final close of its 1V Venture Credit Fund at about $57 million. The credit fund will make investments in technology and healthcare companies over the next three to four years.

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.