Today
- Exclusive
- Mergers & acquisitions outlook
‘Harder and harder’: Why Canva’s $370m AI bet said yes
AI dollars can be “fleeting” and competing with big players can cost hundreds of millions, setting the scene for Leonardo’s sale to Canva.
- Nick Bonyhady
Yesterday
- Exclusive
- Venture capital
Blackbird, Tiger Global-backed start-up shares valued at zero
Retail AI start-up Hivery has had to cut costs, staff and had two co-founders depart. Its biggest local investor has now written a stake down to $0.
- Nick Bonyhady
This Month
- Exclusive
- Construction
The banker and the builders want subcontractors to get Paid
Former Bendigo Bank boss Mike Hirst has invested in an app that could protect subcontractors – and shake up the lucrative market for building contracts.
- Michael Bleby
July
- Exclusive
- Venture capital
Canva’s AI prize Leonardo traded for $320m, dividing VC industry
The valuation has been so closely guarded some investors have refused to tell their own backers how much Canva paid for the start-up.
- Nick Bonyhady
- Exclusive
- Venture capital
Rich Chinese investors join $1b hunt for Aussie VC funds
A fund manager for rich Chinese investors is trying to raise $100m for venture capital investments, joining a crowd of operators trying to raise over $1 billion.
- Yolanda Redrup and Paul Smith
- Exclusive
- Mergers & acquisitions
Melbourne start-up buys out AI compliance software firm in first deal
IntelligenceBank has used the funds raised from its US-based private equity backer to splash out on Sydney-founded Red Marker, from global education giant Kaplan.
- Paul Smith
Inside the $26b journey of this Young Rich Lister’s crypto game
The Warwick brothers’ blockchain-based game Illuvium has finally launched, marking a new chapter in the wild ride of their billion-dollar company.
- Yolanda Redrup
PsiQuantum promises US a computer after $US500m investment
Three months after inking almost $1 billion worth of deals with the federal and Qld governments, the tech start-up has signed up to build another quantum computer in Chicago.
- Paul Smith
- Exclusive
- Funding
Aussie who sold cloud start-up for $2b jumps on AI for ads
Three years after selling A Cloud Guru in a bumper payday, Sam Kroonenburg is teaming up with advertising entrepreneurs with big plans and investors in tow.
- Paul Smith
What it’s like to sell your tech start-up for $180m
For Frank Greeff, selling his real estate marketing company to Domain was the hardest thing he’s ever done, and after it happened he just went to bed.
- Yolanda Redrup
Why only four execs have kept spot on rich bosses list over decade
Chris Ellison, Graham Turner, David Teoh and Gerry Harvey have maintained their positions while some of their richer peers of yesteryear have bowed out.
- Sally Patten and Patrick Durkin
Bankers seeking their next big pay day are chasing these clients
Investment banks are now after riskier, smaller companies so they can pounce on the spoils of a trophy listing or a huge sale to private equity.
- Aaron Weinman
This rich boss always wanted a private jet. Now he is on his second
In his twenties, David Dicker had not yet figured out how he was going to make money, but he knew he wanted a private jet. Then he worked out how to afford one.
- Sally Patten
- Opinion
- Venture capital
‘Declined to comment’: three words destroying millions in VC brand equity
There has been plenty of hand-wringing over the “negative coverage” the tech industry has copped in the past couple of years, but operators should speak up.
- Updated
- Jessy Wu
Rich Lister family backs solar panel recycler Sircel
The Funded blog is the home for news on the tech deals that are done in Australia, as soon as we hear about them.
- Updated
- Paul Smith
- Exclusive
- Venture capital
Mega VC deals are back - but new founders face a big problem
After an 18-month lull, funding is flowing back into start-ups, but in a two-speed sector, some are struggling to meet investors’ high expectations.
- Tess Bennett
- Exclusive
- Funding
Aussie tech’s climate crisis as start-ups face capital crunch
At least 100 Australian climate tech start-ups need to raise capital in the next nine months to avoid going bust, but say the bar for investment is sky-high.
- Yolanda Redrup
- Exclusive
- Zimbabwe
Start-up ditches carbon credits supplier after Zimbabwean fiasco
Sendle’s CEO says it has found new suppliers to stay carbon neutral as it faces a wave of discontent from former staff.
- Nick Bonyhady
Foreign start-ups swarm Australia, ‘buying time’ to show profits
Australia offers a gateway to Asia, a skilled commercial workforce and cultural commonality with the US, but its wealthy customer base is an even bigger prize.
- Nick Bonyhady
Leaving war-torn Ukraine was hard, then this AI worker tried Australia
Tech skills have been in red-hot demand for a decade, but skilled migration has cooled as numerous companies have shed staff in the so-called tech funding winter.
- Tess Bennett
