The Australian venture capital was less than fashionable after the dotcom boom and bust, with local capital investors in Australia and New Zealand almost becoming non-existent. After the first round of funding in 2014, the scenario began to change. Currently, Australia boasts of over 50 tech startups valued at USD 100 million, and 14 valued over USD 500 million.

FREMONT, CA: Sydney-based venture capital firm AirTree ventures raised USD 275 million in its third round of funding. The funding round was supported by existing investors AustralianSuper and Sunsuper, and first-time investors Statewide Super. Three of the other investors refused to be named.

AirTree's first round of funding raised USD 60 million in 2014, breaking the deadlock on venture capital firms in the Australian continent. The second round of funding in 2016 raised USD 250 million, leading to investments in companies like USD 4.7 billion-valued Canva, fintech lender Athena, Energy finance startup Brighte, online learning platform A Cloud Guru, and Prospa.

“The interest from investors in our fund is a stunning reflection on the performance of the entrepreneurs we’ve been lucky enough to back. We were humbled by overwhelming demand, but felt it was the right thing for our investors to maintain discipline and a consistent fund size across vintages,” said John Henderson, Partner at AirTree Ventures.

"An important portion of our portfolio is already in New Zealand, and we remain very focused on supporting that market. We've been investing meaningful resources and funds in New Zealand since 2014, and we'll have more Kiwi news to share soon,” Henderson added. Along with the new funding round, Elicia McDonald was promoted as the principal for investments, with a mandate to lead new ventures, and Emily Close was promoted as an associate on the investment team.

During its launch in 2014, there were very few startups in the Australian region. The Australian venture capital was less than fashionable after the dotcom boom and bust, with local capital investors in Australia and New Zealand almost becoming non-existent. After the first round of funding in 2014, the scenario began to change. Currently, Australia boasts of over 50 tech startups valued at USD 100 million, and 14 valued over USD 500 million.

"As ex-founders, we have experienced the tough, lonely road ourselves. This empathy with the founder's journey helps us focus on when to provide support and when to get out of the way. In our next fund, we'll be expanding our suite of services and our network of connections, all designed to give our founders an unfair advantage,” said Craig Blair, Managing Partner at AirTree.