Venture Capital

Brisbane SaaS investor VentureOn Partners moves into proptech, acquiring Story Bridge Ventures

- October 23, 2023 2 MIN READ
Story Bridge Ventures partners Isaac Coonan and Dion Jensen are now part of VentureOn
Queensland software-as-a-service (SaaS) investor VentureOn Partners has acquired fellow Brisbane VC Story Bridge Ventures as it looks to move into the proptech (property technology) and contech (construction technology) spaces.

VentureOn, cofounded in 2023 by four SaaS founders and operators, specialises in software companies, offering working capital and operational experience from a team of software tech veterans. The company bills itself as “not your typical consulting firm”. Its portfolio includes machine learning, big data, cloud computing, and a smart device startup.

Simpro founder Curtis Thomson launched the $15 million fund in partnership with his former c-suite colleagues, Ricky Sevta and Sean Diljore, as well as Graeme Caplen

They look to back startups with between $1-3 million annual recurring revenue (ARR) and take them to $25m ARR within 3-5 years of investment. Caplen says they “get in the mud with them”, taking a hands-on approach, alongside writing cheque for between $1m – $2.5m. Each operating partner only does 1-2 deals to maintain that physical focus

SBV’s Isaac Coonan and Dion Jensen join VentureOn Partners as partners and will continue to oversee their fund’s existing portfolio.

“We’re excited about joining VentureOn Partners. Their seasoned team of founders and operators, with a track record of building and exiting technology companies, aligns perfectly with our vision. We anticipate the partnership will contribute significantly to the ongoing growth and success of our portfolio companies,” the duo said in a statement. 

Coonan will maintain his leadership role in proptech BNE, offers support for the proptech and contech community, including advocacy, consultancy, thought leadership, events, partnerships, growth programs, and publications, expanding its influence beyond Queensland.  

VentureOn’s Sean Diljor said the acquisition expands the focus for the investment group. 

“We are thrilled to unite with SBV, a key player in proptech and contech investments, sharing our vision of empowering SaaS companies with the capital and operational expertise needed for exceptional growth,” he said.

“Together, we will enhance the value and opportunities available to our portfolio companies and investors.”


SBV’s Isaac Coonan and Dion Jensen are now part of VentureOn