Australia’s venture capital sector looks set to defy the rising caution in global markets, with AirTree Ventures closing the biggest fund yet in the country, banking $700 million to launch three vehicles, including the biggest seed fund in the country and a new fund to back so-called Web3 companies.
The new funding at AirTree is the first of what is tipped to be a bumper year for new local VC funds and comes as new figures showed funding of Australia and New Zealand-based tech start-ups jumped by more than 100 per cent in 2021 to more than $10 billion.
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Paul Smith edits the technology coverage and has been a leading writer on the sector for 20 years. He covers big tech, business use of tech, the fast-growing Australian tech industry and start-ups, telecommunications and national innovation policy. Connect with Paul on Twitter. Email Paul at psmith@afr.com
