This Month In Venture

Biggest stories from mid-June to mid-July 2024

Funding data released

– Cut Through Venture Q2 2024 data is out

– funding hit a six-quarter high reaching $1.5B for the first time since 2022

– Mega-deals coming back with 6 startups raising $100M+ funding rounds

– 99 deals totalling $1.5 billion of funding deployed

– early signs that the tech funding winter is thawing?

VC News

– Telstra Ventures changed its name to Titanium Ventures. Stats: 99 portfolio companies, 12 IPOs, 17 unicorns, 42 liquidity events, A$1.35B funds under management and have returned almost A$1B cash to investors. Albert Bielinko to General Partner.
– Tenacious Ventures raised a $18m fund. Lower than initial $50m target.

– Globally, Kleiner Perkins announced $2 billion in fresh capital, showing that established firms can still raise large dollars. The big AU VCs will be out raising soon if not already so watch this space!

Not Tech But Tech Leaders

– Tesla chair Robyn Denholm buying WNBL with Larry Kestelman – Larry owns men’s NBL, Robyn owns the Sydney Kings, Mike Cannon-brookes part owner of Utah Jazz)

– Canva founders, via The Canva Foundation, donated $31.6m last year, quickly emerged as some of Australia’s biggest charitable donors. Announced in 2021 that they’ll be donating the majority of their equity (30% of Canva), to do good in the world.

Back to tech, big Tech

– Steve Ballmer is now worth $157 billion — more than his former Microsoft boss Bill Gates. Steve went from being Bill Gates’ assistant to his successor as Microsoft CEO, and now he’s surpassed him in wealth for the first time

– Google Near $23 Billion Deal for Cybersecurity Startup Wiz. If it materialises, it will become the largest exit by an Israeli technology company (more than the US$16 billion paid by Intel for Mobileye) and Google’s largest ever acquisition.

– Apple back on top of the world as most valuable company US$3.5 trillion

Closer To Home

– LaunchVic gala is the Victorian Startup Gala on 8 August. The event brings together around 800 investors, startups and corporates each year

– Governor of Victoria Startup Awards (celebrated for their courage to take risks and their contribution to economic growth)

– Startup of the Year: DAS (Digital Agriculture Services)

– Scaleup of the Year: Acusensus
– Investor of the Year (Joint Winners): Jodie Imam – Co-Founder and CEO, Tractor Ventures and Rachel Yang – Partner, Giant Leap

Rounding Things Out

– CreativeCubes.Co acquisition of Workspace365 Victoria (11 locations across Melbourne including CBD and Geelong)

ABOUT

Tobi Skovron and Gavin Appel spearhead our monthly vlog – a must-watch for those seeking insights into the local startup and VC sphere. Captivating audiences with their infectious enthusiasm for the startup and venture capital landscape, Tobi and Gavin unpack the latest trends and events.

The vlog consistently delivers high-quality, engaging content, covering everything from fundraising, M&A, product launches, new venture funds, and more. Tobi and Gavin rapidly explore each topic, while making complex concepts accessible. It’s an indispensable resource for those hungry for knowledge about the local startup and VC scene.

Gavin is the Founder and CEO of Ignition Lane, where he advises founders and leaders growing tech companies. He has 25 years of experience in the technology industry across startups, corporates and venture capital. Gavin was a founding VC Partner at Square Peg, an SVP of Product and Technology at Experian, and was one of the first employees and CTO at Hitwise – a venture-backed startup that was acquired for US$240m in 2007.

Tobi is the CEO and co-founder of CreativeCubes.Co, and has over 20 years of entrepreneurial experience across Australia and the U.S.

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