Climate Insider Brief:
- The Sydney-based VC firm has secured 16% of its $650 million target for Fund V, with commitments from US investors like Adams Street Partners, Harvard Management Company, and the University of Wisconsin endowment.
- Fund V will be split into two components: Core Fund V to support Seed-stage startups and Opportunity Fund V to help scaling and mature portfolio companies.
- Airtree’s growing international investor base highlights the increasing appeal of the Australian and New Zealand tech ecosystems, with new commitments from top-tier US endowments and local superannuation funds.
Sydney-based Airtree Ventures has successfully secured commitments toward its fifth fund, targeting a $650 million close by early 2025. The fund will be split into two components—Core Fund V, which will focus on Seed-stage investments, and Opportunity Fund V, designed to support scaling portfolio companies and more mature startups. With a goal of making a dozen strategic investments annually, Airtree aims to bolster Australia’s rapidly growing tech ecosystem.
The first closure of Fund V has seen backing from major US investors, including Chicago’s Adams Street Partners and university endowments from Harvard Management Company and the University of Wisconsin, which collectively contributed 16% of the target amount—roughly $104 million. In addition to these international supporters, local investors such as AustralianSuper and TelstraSuper have renewed their commitment to the firm.
In a statement to Startup Daily, an Airtree spokesperson shared the firm’s enthusiasm: “We’re in the fortunate position of having an increasingly global mix of LPs in addition to our existing local investors in the first close of Fund V who share our belief in the outsized potential of Australian startups.”
Airtree partner James Cameron expressed his excitement on LinkedIn, saying: “It’s a great feeling to be welcoming some of the world’s best LPs from US, Asia, and Europe into our next fund… It’s a testament to the ANZ tech ecosystem that it’s now attracting the best of the best global capital to our shores to support the next generation of Canvas, Go1s, Employment Heros, Linktrees and Immutables.”
The firm also added Kelland Reilly to its partnership earlier this year after he returned to Sydney with his family from the US. General partner John Henderson shared his appreciation for the firm’s growing global presence, noting on LinkedIn: “I’m humbled by the support, both onshore and offshore, for the new fund. This is a big moment for the Aussie and Kiwi startup ecosystems as some of the world’s best fund investors recognize the achievements of great Aussie and Kiwi founders and are now putting their money behind the next generation to outcompete their global peers.”
Airtree’s investor relations manager, Charlotte Edelman, also highlighted the significance of this achievement, stating: “I’m incredibly proud to have led the charge alongside our partnership diversifying our LP base with the largest US endowments and top-tier global fund of funds as they commit to their premier ANZ dedicated venture manager.”
Looking ahead, Airtree plans to use the new capital to continue its mission of identifying and nurturing the next generation of industry leaders. With its first close already underway and a final closure anticipated in early 2025, Airtree Ventures is positioning itself as a key player in the future of tech innovation in the region.
Source: Startupdaily
Featured Image: Credit: AirTree
