AirTree Ventures, a Sydney-based VC firm, has raised A$700 million (US$493 million) in a fresh funding round to create three new funds, TechCrunch reported.
The oversubscribed round saw participation from returning investors, including AustralianSuper, Sunsuper, TelstraSuper, and Statewide Super.
AirTree has allocated US$141 million, US$35 million, and US$318 million, for investment in early-stage, Web3, and growth-stage startups, respectively.
Founded in 2014, AirTree is focused on the startup ecosystem in Australia and New Zealand. Of its 80 active investments, 23 startups have a valuation of more than US$100 million and eight have achieved unicorn status. Some of its notable portfolio firms include Canva and A Cloud Guru.
According to AirTree, 53% of its investments in 2021 went to pre-seed stage firms, while 17% were put into in seed-stage firms, 24% in series A, and 2% in series B startups. The company added it has made five investments in crypto-related infrastructure, tooling, and other projects, to date.
See also: Explaining Vietnam’s crypto boom
Currency converted from Australian dollar to US dollar: US$1 = A$1.41.
Editing by Samreen Ahmad and Arpit Nayak
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