Top VCs in Australia: The Leading Funds for Ambitious Startups
Australia’s startup ecosystem has flourished in recent years—venture capital investment in local startups surged past AUD $10 billion in 2021, marking a record-breaking period that put the country firmly on the global innovation map. From fintech and healthtech to advanced engineering, Australian founders have found a growing community of VCs eager to back bold ideas at every stage. But with so many funds out there, figuring out which ones genuinely support ambitious founders can be tough. If you’re building a startup in Australia or thinking about launching one, knowing the top venture capital firms—and what makes them tick—can make all the difference. This guide takes you through Australia’s most active and founder-friendly VCs, highlighting the sectors they prioritize, the companies they’ve helped build, and what you need to know if you want to get their attention.
How Venture Capital Works in Australia
Australian VC investment landscape
Australia’s venture capital scene has shaken off its conservative past. Over the past decade, funding has surged, with larger funds now actively competing for standout founders. Unlike Silicon Valley, Australia’s market is still tightly knit—a handful of funds lead most deals, and syndication is common. Startups benefit from a collaborative investor network that values relationships and proximity.
The image above shows where Australian VC is going compared to global peers. Information technology and health/biotech are booming, while communications receives less attention than in the US or Europe. Investment in IT and life sciences often rivals, and sometimes surpasses, the global average, signalling Australia’s appetite for scalable tech.
Types of startups that attract VC attention
Australian VCs back bold bets—teams going after big markets, building defensible technology, or taking on thorny real-world problems. SaaS leads the pack, but ambitions in fintech, medtech, climate tech, and deep tech are increasingly catching VCs’ eyes. Funds tend to favour startups showing global potential from day one, a necessity for scaling beyond Australia’s small population. Traction, team expertise, and a credible plan to expand overseas are often prerequisites for getting a term sheet.
To understand what makes Australia’s top investors tick, let’s dive into the traits and strategies that set them apart.
What Sets Australian VCs Apart
Investment focus and preferred sectors
Australian VCs don’t just chase obvious trends. Their portfolios reveal calculated bets on sectors that play to the country’s unique strengths—think deep tech, climate innovation, climate tech, agritech, and medtech. Thanks to Australia’s rich talent pool in science and research, funds frequently back startups spinning out of universities or commercialising local breakthroughs. Unlike some US or European firms that lean heavily into software or fintech, Australian funds are more likely to invest in technologies addressing global resource challenges, health problems, or sustainability. As a result, their approach often blends commercial ambition with long-term impact.
Approach to founder support and value-add
Australian VCs thrive on close-knit relationships. The community is smaller and more collaborative than in Silicon Valley, making it normal for fund partners to spend hands-on time with founders. This means weekly check-ins, nuanced advice on scaling across Asia-Pacific, or help navigating the complexities of Australia’s grants and regulatory environment. Many investors have built or scaled successful startups in the region themselves—making their support more practical than prescriptive. They’re also known for championing their portfolio companies far beyond cheque-writing, tapping their networks to open doors in markets across Australia and Southeast Asia.
With these distinct characteristics, it’s no surprise that several standout funds have earned international attention for both their investment strategies and the founders they back. Let’s explore which funds are making waves and what kinds of startups they’re helping to build.
Top VCs in Australia for Early and Growth-Stage Startups
Australia’s venture capital scene boasts a roster of firms that don’t just write cheques – they’re known for sparking transformative growth and standing shoulder-to-shoulder with founders from the earliest milestones to international expansion. Here’s a look at ten VC funds leading the charge for ambitious startups across the country.
Blackbird Ventures
Blackbird is often the first name mentioned in Australia’s startup circles. Their focus is on backing bold ideas, frequently at the pre-seed or pre-seed or seed stage, and they’ve helped build household names like Canva, SafetyCulture and Culture Amp. Blackbird’s approach is hands-on, with founders frequently describing the firm as their most active supporter – both in funding and community-building.
AirTree Ventures
AirTree is known for getting in early and sticking around for the long haul. Their portfolio is a who’s-who of Australian success stories: Canva, Linktree, and Go1, just to name a few. AirTree’s reputation rests on deep founder relationships—and the team regularly opens up its own extensive network to portfolio companies seeking talent, partners, and customers.
Square Peg Capital
With one of the largest VC funds in Australia, Square Peg bridges the local and global. The firm frequently leads rounds in both early and growth stages, and isn’t shy about investing internationally either. Their investments have included Prospa, Deputy and Athena, and they’re recognized for rigorous due diligence and rolling up their sleeves to support founders after the deal closes.
OneVentures
OneVentures specialises in high-growth technology and healthcare. Their style: high-conviction and high-support, often fuelling companies across the full growth journey. With a string of successful exits under their belt, OneVentures is a go-to for ambitious startups in medtech, biotech, and enterprise software.
Carthona Capital
Carthona likes to get involved as early as possible and will often reinvest as companies grow. Its small team brings a hands-on approach, watching over companies like FrankieOne and Baraja. Carthona is especially drawn to founders tackling overlooked or technically complex markets.
Main Sequence Ventures
Born out of CSIRO, Main Sequence focuses on deep tech with a scientific edge. The fund thrives at the intersection of research and commercialisation, supporting startups like Samsara, v2food and Q-CTRL. If your company is built on a breakthrough, Main Sequence is where scientific ambition meets serious capital.
Rampersand
Rampersand backs early-stage tech startups, offering crisp advice and strong operator networks. They’ve invested early in wellness app Eucalyptus, media-tech platform Sendle and more. Rampersand’s mission: accelerate the next generation of digital disruptors and break down the barriers to scale.
OIF Ventures
OIF is all about supporting extraordinary operators, especially in SaaS, artificial intelligence and B2B platforms. Notable investments include Assignar, Propeller Aero, and Kasada. OIF differentiates through quick decisions and a founder-first culture, making the team popular with entrepreneurs who want conviction from their backers.
Brandon Capital Partners
For startups in biotech and life sciences, Brandon Capital is the heavyweight. Partnering with researchers and commercial teams, the firm has been instrumental in bringing over 50 medical innovations to market globally. They shine in translating scientific innovation into funded, real-world patient outcomes.
Flying Fox Ventures
Flying Fox is newer to the scene but making noise by backing ultra-early-stage Aussie startups with global ambitions. Their portfolio is rapidly growing—and so is their reputation for investing quickly and thoughtfully, especially in diverse founding teams and cutting-edge sectors.
Each of these funds offers a different approach and area of expertise. By understanding not just who they fund but how they work, founders can find the perfect partner for every stage of their journey. Next up, let’s break down which industries each fund prefers and how their portfolios reflect Australia’s evolving tech landscape.
VC Snapshot: Industry Focus, Fund Size & Portfolio Highlights
Who invests in what: sector specialisation
If you scan the portfolios of Australian VCs, certain themes emerge. Blackbird Ventures, for example, isn’t shy about taking bold bets on deep tech and mission-driven founders—from SaaS to space technology. Meanwhile, Main Sequence Ventures has carved out a niche backing companies fusing science and engineering, particularly in foodtech, climate, and AI. On the fintech front, AirTree Ventures and Square Peg Capital consistently support local startups aiming to shake up financial services across Australasia.
Sector focus often aligns with fund strategy. Some, like Flying Fox Ventures, hone in on very early, high-conviction bets, while others—think OneVentures or Brandon Capital—channel most capital into life sciences and healthcare breakthroughs. Diversification matters too: Carthona Capital’s portfolio covers everything from edtech to logistics and energy.
Recent standout investments
Australian VCs have authored some big headlines in recent years. Blackbird Ventures led early rounds in Culture Amp and Canva—both now global category leaders. Main Sequence was an anchor investor in V2food, Australia’s much-hyped plant-based meat company, as well as backing Australian space startup Fleet. AirTree Ventures has supported Go1 and Linktree, while Square Peg counts unicorns like Airwallex and Stripe among its investments. These bets illustrate both homegrown growth and the willingness to support companies with international ambitions.
How much VCs typically invest
Investment cheques range as widely as fund strategies. At the seed and pre-seed stage, typical initial commitments from Australian VCs hover between A$200,000 and A$2 million. Larger early-stage rounds—especially from established names—often see cheques up to A$5-10 million. Growth-stage funds stretch even further, with Main Sequence and Square Peg allocating up to A$25-40 million in select follow-ons, especially when startups shift into global expansion mode. Across the board, follow-on reserves are common, signalling a willingness to double down on breakout performers.
Understanding these nuances—who invests in what, how much, and at which stages—is essential for any founder charting a path through Australia’s VC landscape. Next, we’ll equip you with smart tactics to put your best foot forward when reaching out to these top-tier investors.
Ready to Find the Right VC Partner?
Australia’s venture capital scene is rich with opportunity—but landing that pivotal first conversation starts with understanding who you should call and why. Instead of cold emailing dozens of firms, imagine approaching the fund that’s already excited about your exact sector and stage.
Use the momentum from your research. Pinpoint your best-fit investors, tailor your outreach, and step into discussions with confidence.
Now, let’s dive into strategies that can help your startup get noticed by these leading Australian VC funds.
Tips for Approaching Top VCs in Australia
Best practices for connecting with investors
Get to know the individual partner you want to reach, not just the fund’s general inbox. Top Australian VCs prefer warm introductions—this could mean finding a shared connection, industry event, or recent portfolio CEO who can vouch for you. If you can’t find one, craft a concise, genuine email showing you’ve researched their investments and can articulate why your startup suits their thesis.
Timing matters: share a key product milestone or recent traction win before you introduce yourself. Australian investors appreciate founders who take initiative but who also demonstrate patience—they’re unlikely to jump on board until you’ve shown early momentum.
Key factors VCs look for in a pitch
Australian VCs want to see much more than slides and market stats. They pay close attention to founder-market fit—why is your team uniquely placed to tackle this problem? Share authentic insights from your customer conversations or pilot tests. Numbers are powerful when paired with real-world stories.
Having a crystal-clear go-to-market plan is vital. Australian funds look for founders who understand the realities of local scaling as well as global ambition. VCs expect openness around risks and competition; a pitch that anticipates tough questions earns trust.
With these approaches, your outreach to leading Australian VC funds won’t be just another email—they’ll see you as a founder who brings insight, initiative, and self-awareness. Next, let’s look at the standout firms that could be behind your next funding round.
Other Noteworthy Australian VC Firms to Know
Artesian VC
Artesian carves its niche by running one of Australia’s largest early-stage investment outfits, actively backing high-potential startups through diverse seed and accelerator programs. Their portfolio stretches from agritech to cleantech, supporting founders with deep networks across the Asia-Pacific region.
Reinventure
Reinventure gains recognition for blending corporate insight with venture backing, thanks to its anchor investor Westpac. The firm is no stranger to fintech deals and leads with a hands-on approach, helping startups plug directly into enterprise-scale banking and payments infrastructure.
Telstra Ventures
Telstra Ventures spotlights startups with disruptive potential in sectors like cybersecurity, AI, and digital platforms. Leveraging Telstra’s global reach and technical depth, the fund offers more than just capital—its portfolio companies gain access to distribution channels few other VCs can rival.
Investible
Investible showcases an appetite for scalable ideas, combining comprehensive founder support with practical exit experience. Their team equips founders with robust connections and access to international mentors, making them a frequent first port of call for new tech ventures.
Ellerston Capital
Ellerston Capital delivers flexible funding to growth-stage and pre-IPO companies. Beyond funding, their seasoned investment professionals help ventures smooth the path to public markets, with a focus on sectors that reward innovation and operational discipline.
If you’re evaluating which VC fund fits your startup journey, understanding each firm’s strengths will help position your pitch and expectations. As we move ahead, we’ll dive into practical advice for connecting with investors and making your approach memorable.
Frequently Asked Questions on VCs in Australia
What sectors are most VCs investing in now?
Australian VCs are particularly active in software, climate tech, fintech, healthtech, and deep tech. Clean energy, AI, and digital healthcare have all seen substantial funding recently. Enterprise SaaS, marketplaces, and agtech also get plenty of attention, reflecting both global trends and local strengths.
How much equity do Australian VCs usually take?
Most Australian VCs take between 10% and 25% equity in early-stage rounds, depending on the startup’s stage and traction. Seed rounds are more often at the higher end of that range, while later rounds can see dilution spread over several investors. The exact percentage is always up for negotiation and influenced by the company’s perceived potential.
Is it possible to raise from international VCs?
Yes—global venture funds are increasingly looking at Australian startups, especially for late seed and Series A rounds. Cross-border interest has grown as local companies prove they can scale in large markets. Connecting with international VCs typically requires traction, solid networks, and a story that appeals beyond Australia’s borders.
Curious about which investors actually lead the charge in these sectors? Let’s take a closer look at the most influential players shaping the venture scene Down Under.