Equity down under: How Australian startups can crack the US market

Equity

TechCrunch

Founders, Silicon Valley, Finance, Ipo, Vc, Technology, Business News, Startups, Business, Venture Capital, News, Stock Market, Entrepreneurship, Techcrunch

4.2 • 365 Ratings

🗓️ 27 December 2023

⏱️ 48 minutes

🔗️ Recording | iTunes | RSS

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Summary

We’re spinning the globe with not one but two interviews thanks to our friend and colleague Rebecca Bellan, who’s been in Auckland, New Zealand for the past three years. She recently hopped across the Tasman to Australia to report on the startup scene in Australia, and is coming back to us with a temperature check on VC in the Antipodes. For this episode, she spoke to two Aussie VCs: Dan Krasnostein from Square Peg and Gabrielle Munzer from Main Sequence. Rebecca and our guests dug into why early stage funding is popping off in the region, the government's role in growing a startup ecosystem, fintech, climate tech, and what it’s like to compete and collaborate with Silicon Valley.

Transcript

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0:15.3	Hello and welcome back to Equity, a Tech Ranch podcast about the business of startups where we unpack the numbers and the nuance behind the headlines. My name is Alex and
0:19.6	this is our interview show where we sit down with a guest, think about their work, and unpack the rest.
0:25.6	Today I am proud to say we have an absolutely jam-packed show for you with not one but two interviews.
0:31.5	You're welcome. So today we are spinning the globe with some help from our friend and
0:35.4	colleague Rebecca Balan. She's been on the show several times and recently she's left to
0:39.6	New Zealand and gone over the Tasman to Australia to report on the startup scene in that country and to give us a temperature check on what's going on in venture capital in the antipaties.
0:49.2	So for this episode of Equity Down Under, she spoke with several Ozzy and Kiwi VCs to learn more about why early-stage
0:56.4	funding is popping off in the region, how founders Down Under are Great Egg Capital Efficiency,
1:02.0	and what it's like to compete and collaborate with Silicon
1:04.9	Valley. Let's listen.
1:06.0	Hey, I'm Dan. I'm one of the partners at Square Peg. I've been with Square Peg since we started back in 2012. We are an early stage venture fund, typically investing seed series A with a very strong commitment to keep investing in
1:24.0	in series A with a very strong commitment to keep investing in companies as they grow.
1:26.3	We invest out of Australia, Southeast Asia and Israel
1:31.1	with a real focus on FinTech, B2B-Sass, AI, and sort of growing focus in climate and healthcare.
1:39.0	Excellent, yeah.
1:40.0	So one of the things you just mentioned that SquarePEG pays attention to is B2B sass and well two of the things B2B sass and FinTech which I've noticed are they seem to be two of the biggest industries in Australia. Can you tell me a little bit about why?
1:54.0	Yeah, it's interesting. I mean, I think maybe just some context on Australia as in general
1:59.2	and then I can dive into them, but the growth of Australia over the last decade has been
2:05.0	has been really exceptional I mean when we started there was I think the number was
2:08.7	a hundred and twenty seven million dollars invested into startups which is either a
2:12.1	rounding error or one large round.
2:14.7	And you know, sort of fast forward 10 years and we're now the many, many billions of dollars.
	...

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