Street Talk

PsiQuantum backer Playground Global back in town looking for cash

Sarah Thompson, Kanika Sood and Emma Rapaport

Jun 26, 2024 – 5.00am

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Playground Global, the Palo Alto-headquartered investor in deep tech, is having a big year. It has already secured the federal government as a $1 billion backer of PsiQuantum, one of its portfolio companies. Now it is back in the country, meeting investors ahead of the launch of a mega fund.

Sources told this column that Playground Global has locked in remote meetings with family offices and other potential investors this week, after visiting Down Under last month, as it seeks fresh funds to plough into ambitious tech and science startups.

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.

Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.

Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.