Australian VC Square Peg raises $450m fourth fund, to double down on SE Asia
Square Peg s Singapore-based partners Piruze Sabuncu (left) and Tushar Roy. Premium
Square Peg, Australia’s largest pensions-backed venture capital firm, announced that it is ramping up its investments in Southeast Asia after closing its fourth pool of venture capital at $450 million.
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Australia Pensions Bet on Venture Capital in Record Raising Year
Bloomberg 12/14/2020 Matthew Burgess
(Bloomberg) Australia’s biggest pension funds are betting the nation’s first recession in about three decades will produce its next tech-unicorns, fueling a record year of venture capital fund raising.
AustralianSuper Pty. and Host-Plus Pty. were among investors backing Square Peg Capital Pty.’s $450 million fund, the venture capital firm said Tuesday. The Melbourne-based firm’s fourth fund adds to the best year for the Australian venture sector that’s raised at least A$1.3 billion ($980 million) in 2020, according to data compiled by Preqin and Bloomberg.