It’s fundraising time at local venture capital bigwig Square Peg, which only means one thing – its partners are warming up to crow about their 625-times return at Canva, while dangling a loose promise of future riches.
Street Talk can reveal Square Peg has sent a 43-page investment memorandum to potential investors as it aims to raise $US560 million ($840 million) for its sixth generation of funds. Fund 6 will have a $US350 million hard cap and invest in seed and Series A funding rounds, taking minority stakes between 10 per cent to 20 per cent.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
