Australian VCs merge to form Square Peg Capital
Early-stage investment fund Square Peg Ventures and Victoria Capital have merged to form the new investment platform, which will work with investors on a deal-by-deal basis.
Square Peg Capital (SPC) was founded after Paul Bassat, co-founder of Australian job search site Seek; former Macquarie managing director Tony Holt and Justin Liberman merged their funds. The team also includes Barry Brott from Jagen, start-up veterans Dan Krasnostein and Gavin Appel, and investor David Liberman.
There are no plans to raise a fund, but rather syndicate deals to people in their networks, which should afford the flexibility to do larger deals across a range of sectors and growth stages.
SPC now holds stakes in the 12 companies the merged funds had invested in, including travel website Wego, retail management software Vend, video walkie talkie app Glide, advertising analytics firm Standard Media Index and photo market place ImageBrief.
More on Australasia
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.