Athena Home Loans is now worth $310 million after REA Group (ASX:REA) unveiled plans to spend $62 million on a 19.9% stake in the fintech. The deal is being funded from the REA’s existing cash reserves and real estate giant will take two seats on Athena’s board. REA already has an existing relationship with the… Read more »
The fight for venture capital in Australia isn’t just between local startups – they’re also increasingly competing with international founders for investor attention according to a new report from Asialink Business and the Tech Council of Australia (TCA). The Building the Australia-Asia Tech Corridor report explores the vital connections between Australia’s and Asia’s tech ecosystems… Read more »
At Startmate we’re industry agnostic. We invest in people first. People with deep expertise and unique visions, working to solve some of the thorniest problems frustrating industries worldwide. The role we play is simple. Accelerate their progress – avoid pitfalls, leverage opportunities, prompt customer conversations, advise sales, and marketing – do everything in our power… Read more »
Square Peg is raising for a sixth fund, as well as a new “Opportunities Fund 3”, seeking a combined $840 million, but cofounder Paul Bassat has promised more money will go back into investor pockets than they will invest in the years ahead. Twelve years on, Bassat said in Square Peg’s half-yearly update to June… Read more »
Investment fintech Blossom believes it’s on target for its goal of $100 million in funds under management (FUM) by the end of the year, having hit $75 million thanks to a new product targeting a 7% return. The fixed income app, launched in 2021 by siblings Gaby and Ali Rosenberg, has been able to lift… Read more »
Venture capital funding for NSW startups began to decline in the first quarter of 2024 after swallowing two-thirds of all Australian investment in 2023, according to new data from funding analytics firm Techboard. Startup investment in the first quarter of 2024 had slowed with $761 million invested across 82 deals recorded over the first three… Read more »
Impact venture capital firm Giant Leap has told a parliamentary inquiry into the sophisticated investor test that the government should measure investor quality rather than the size of their capital when it comes to the threshold qualifications The investment sector has swung into action as submissions to the inquiry close tomorrow and Startup Daily revealed… Read more »
Rumours that the federal government was looking at dramatically ramping up the thresholds to qualify for the wholesale investor test sent shockwaves through the startup sector at the start of 2024. The purported changes being considered as Treasury looked into the issue were increasing the asset threshold to $4.5 million, up from $2.5m, with the… Read more »
Sydney investment firm Quadrant Private Equity is now a Canva shareholder after acquiring a hefty $500 million slice of the design giant, including more than $100 million worth of shares from VC fund Blackbird. That represents about 1.2% of the company’s stock. The deal comes after $2.4 billion worth of Canva shares changed hands earlier… Read more »
State government-backed investment fund Breakthrough Victoria is backing US stratospheric exploration company World View with $37 million to entice it to Melbourne. The strategic investment will see World View establish its Indo-Pacific headquarters in the capital, as well as building an advanced manufacturing facility in Victoria, creating up to 200 jobs in engineering, mission control… Read more »
Investor Rayn Ong pointed out recently that “VCs (and angels) say no to 95% of the founders they meet with”. That’s ignoring the many more no responses over emails and even DMs (from some brave founders). As anyone in startup land will attest, the no comes in many forms. There is of course the quick,… Read more »
Government-backed investment fund Breakthrough Victoria has defended itself against critics wanting it abolished saying it wants to “fundamentally reshape the innovation landscape”. The $2 billion VC fund, launched in 2021, and chaired by former Labor premier John Brumby, has been subject to a sustained media campaign for it to be dismantled, led by Adir Shiffman,… Read more »
Grok Ventures, the private investment fund of Atlassian cofounder Mike Cannon-Brookes, has named global asset management executive Tan Kueh as CEO, joining chief investment officer Jeremy Kwong-Law. Cannon-Brookes said that Grok is entering a new phase of growth, having refined its investment strategy to make a bigger impact on addressing the global climate challenge. “Having… Read more »
Last week, the Federal Government revealed plans to raise qualifications for sophisticated investors. Investors would now need $4.5 million or more in assets, or to earn more than $450,000 for two consecutive years to be able to access certain types of investment opportunities such as venture capital. Under existing rules, a sophisticated investor qualifies as… Read more »
Brisbane based investor Daniel Gavel is known for his down-to-earth and innovative approach to investing through angel investing, Black Sheep Capital Fund, and the Flock Syndicate. The Black Sheep portfolio includes Airtasker, Sendle, Amber Electric and Llama Life. Gavel recently sat down with Cheryl Mack from Aussie Angels and Maxine Minter to talk about his… Read more »
Australia suddenly leads the world with new loot box and gambling laws. Here’s what that means 
Antler Investor Memo Series: Balo is creating a 24/7 help desk for enterprise software users 
Australians won’t get Apple Watch sleep apnoea alerts because they’ve not yet had the nod from regulators 
Cannon-Brookes-backed millennial super fund Spaceship snapped up by eToro in $80 million merger 
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