AirTree Closes Largest Seed Fund In Australia, Boosts Fund Under Management To $1.3bn

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AirTree Ventures has boosted its fund under management to $1.3bn thanks to a newly-collected $700m across three funds.

The $200m-AirTree Seed is the largest seed fund in Australia. It will focus exclusively on early-stage investments.

The $450m AirTree Growth vehicle will make investment in companies all the way through to IPO, while the $50m-AirTree Web3 will focus on DeFi, NFTs and DAOs.

AirTree specializes on pre-seed and seed investments where it aims to partner with founders as early as possible.

Craig Blair, cofounder and partner AirTree, said, “Our seed fund is a firm commitment to invest more money at an earlier stage than ever before. Our mission has always been to partner with founders from the very start when they’re creating something from nothing, backing their vision before it’s obvious to the rest of the world. This new fund enhances our ability to back the new wave of founders emerging, and double down on breakout successes in follow-on rounds.”

AirTree has grown its first $60m fund to over $2.1bn in values.

A large proportion of the firm’s investments have been in software and internet businesses such as cybersecurity, creator economy and fintech.

AirTree Web3 is the first Web3 specific fund created by an Australian VC.

John Henderson, partner at the firm, said, “We’re seeing the next generation of entrepreneurs building on Web3. We want to partner with them from the outset and become active users of their products and participants in their communities and governance.

“Web3 unlocks new paradigms and we’re excited to support founders starting projects that will disrupt incumbent internet companies and financial institutions.”

AirTree was among the backers in the latest fundraising round when Australian design software company Canva hit a $40bn valuation last September.

It closed its third fund on A$275m in 2019 and its sophomore fund on A$250m in 2016.

Source: https://www.altassets.net/private-equity-news/by-news-type/fund-news/airtree-closes-largest-seed-fund-in-australia-boosts-fund-under-management-to-1-3bn.html

Time Stamp: February 1, 2022