Yesterday
Billionaire Salesforce boss tips into Sydney biotech incubator
Along with Marc Benioff, World Bank president Ajay Banga and Melbourne’s Churchill Asset Management all put in for a round that values the firm at $90 million.
- Sarah Thompson, Kanika Sood and Emma Rapaport
This Month
- Exclusive
- Government debt
Brumby urged to follow Breakthrough Victoria CEO out the door
The chief executive of the Victorian government’s Breakthrough Victoria fund, Grant Dooley, has resigned and backed an overhaul of the John Brumby-led board.
- Patrick Durkin
Sydney’s Phocas Software courts global buyers
Phocas joins a growing list of Australian tech companies – especially those with large global businesses – which are seeking their M&A fortunes overseas.
- Sarah Thompson, Kanika Sood and Emma Rapaport
- Exclusive
- Start-ups
‘Harder and harder’: Why Canva’s $370m AI bet said yes
AI dollars can be “fleeting” and competing with big players can cost hundreds of millions, setting the scene for Leonardo’s sale to Canva.
- Nick Bonyhady
Australian venture capital firms face a battle for their future
Venture capital firms are under pressure to secure funding, as superannuation funds re-evaluate their investment options.
- Paul Smith
Aged care execs seek seed capital for recruitment startup
The hopstep recruitment platform for the aged care sector is hitting up venture capital and high-net-worth types to raise $3 million.
- Sarah Thompson, Kanika Sood and Emma Rapaport
- Exclusive
- Start-ups
Blackbird, Tiger Global-backed start-up shares valued at zero
Retail AI start-up Hivery has had to cut costs, staff and had two co-founders depart. Its biggest local investor has now written a stake down to $0.
- Nick Bonyhady
Christie’s-backed art fintech puts finishing touches on recap
It also opened a $US50 million debt book opportunity alongside the equity round and told backers it would be open to a sale or join venture discussions.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Water quality monitoring start-up Eco Detection lands UK-listed backer
Street Talk can reveal Eco Detection has added London-listed mining services player Capital Limited to its list of backers.
- Sarah Thompson, Kanika Sood and Emma Rapaport
July
- Exclusive
- Start-ups
Canva’s AI prize Leonardo traded for $320m, dividing VC industry
The valuation has been so closely guarded some investors have refused to tell their own backers how much Canva paid for the start-up.
- Nick Bonyhady
$9b Indian VC flies into bumper seed round for Aussie fintech Slice
Slice is $7.5 million richer after ruling off an equity and debt round led by Peak XV Partners and Roadnight Capital.
- Sarah Thompson, Kanika Sood and Emma Rapaport
It was called the ‘next Canva’, so Canva bought it
Canva has acquired AI design start-up Leonardo.AI in a surprise deal worth over $120 million. The ACCC is taking notice.
- Staff reporter
- Exclusive
- Investing
Rich Chinese investors join $1b hunt for Aussie VC funds
A fund manager for rich Chinese investors is trying to raise $100m for venture capital investments, joining a crowd of operators trying to raise over $1 billion.
- Yolanda Redrup and Paul Smith
- Exclusive
- Funding
How Melbourne start-up’s gamble created a $34m business
A risky plan to cut off a $4 million revenue stream and rebuild their software company has paid off handsomely for two Melbourne-based tech entrepreneurs.
- Tess Bennett
- Exclusive
- Start-ups
Aussie who sold cloud start-up for $2b jumps on AI for ads
Three years after selling A Cloud Guru in a bumper payday, Sam Kroonenburg is teaming up with advertising entrepreneurs with big plans and investors in tow.
- Paul Smith
‘Not good enough’: Blackbird admits its gender pledge has stalled
Australia’s largest VC fund pledged to track data to support its rhetoric around investing in more women founders. Its first report shows it has gone backwards.
- Tess Bennett
- Exclusive
- Funding
Sydney VC raises $20m in four days for ‘evergreen’ fifth fund
Early-stage software investor EVP’s fifth fund is targeting an underserved segment of the Australian capital market, and pulled in $20 million since last Thursday.
- Tess Bennett
- Opinion
- Opinion
‘Declined to comment’: three words destroying millions in VC brand equity
There has been plenty of hand-wringing over the “negative coverage” the tech industry has copped in the past couple of years, but operators should speak up.
- Updated
- Jessy Wu
Sydney gym software start-up lands $17.6m
The Funded blog is the home for news on the tech deals that are done in Australia, as soon as we hear about them.
- Updated
- Paul Smith
- Exclusive
- Start-ups
Mega VC deals are back - but new founders face a big problem
After an 18-month lull, funding is flowing back into start-ups, but in a two-speed sector, some are struggling to meet investors’ high expectations.
- Tess Bennett
