The Venture Codex Logo

The Venture Codex

Ellerston Capital

Level 11, 179 Elizabeth Street, Sydney, NSW, 2000, Australia

Overview

Ellerston Capital specialises in equity strategies. Today, they have over $5.1 billion in funds under management (as at 28 February 2017) – including separately managed accounts (SMAs), wholesale funds and retail offerings for a range of financial advisers, institutions and individual investors. As a dedicated investment manager, they aim to do one thing exceptionally well: grow and protect their clients’ wealth through investing. They are passionate about creating value for their clients by identifying outstanding stocks and designing portfolios that perform over the long term.

Total investments
20
Lead investments
7
Investments · 12mo
2
Active investors
5

Sector focus

  • Finance
  • Financial Exchanges
  • Financial Services
Visit website

Investment portfolio

  • Bodd

    Led · Equity · Dec 2025

    Bodd builds a proprietary 3D body-scanning device that captures precise human measurements in seconds, enabling more accurate uniform fittings and health-related body composition assessments. Initially launched as a custom apparel company, the founders—Rob Fisher and David McLaughlin—pivoted in 2019 to focus exclusively on the scanning technology and fully exited the clothing business in 2023. The scanners are marketed to industries such as defense, emergency services, healthcare and wellness, where exact sizing or biometric data is critical. Demand has been buoyed by trends like rapid weight-loss treatments (e.g., Ozempic) that create frequent size changes and drive the need for updated measurements. The company monetises through hardware sales and recurring software licences, though specific revenue figures were not disclosed. Following its latest raise, Bodd’s post-money valuation stands at approximately $110 million. Capital from the new round will be used to expand sales and scale manufacturing.

  • Firmus Technologies

    Led · Equity · Sep 2025

    Firmus Technologies is described as a neocloud that is preparing for an initial public offering and ASX listing later this year. The company’s latest financing effort values its equity at about US$15.5 billion pre-IPO. As part of that process it is issuing preference shares that will convert into ordinary equity at the IPO. Nvidia has committed roughly US$500 million to the preference-share placement. The fundraising is being conducted as a large pre-IPO equity raise of US$2.0 billion (A$2.9 billion). The articles do not provide details on revenue, users or prior funding rounds.

  • BCAL Diagnostics

    Participated · Equity · Jun 2024

    BCAL Diagnostics is a listed breast cancer biotech. The company has closed an oversubscribed fundraising round totalling $10.5 million. The raise was supported by existing backers including Ellerston Capital, APS Foundation and tech entrepreneur Mark McConnell. BCAL initially sought $5 million but was able to raise roughly twice that amount. The company will seek shareholder approval on July 15 for proceeds that fell outside its annual placement capacity. The article does not disclose operating metrics, product details, or use of proceeds.

  • Data Zoo

    Led · Series A · May 2024

    Data Zoo, founded by Tony Fitzgibbon, provides identity verification solutions that enable financial institutions, payment platforms and fintechs to verify consumers and business identities in over 170 countries using a diverse set of authoritative data sources. Its software features advanced data sequencing to improve efficiency and maximize conversions and prioritizes data protection and privacy by eliminating identity data storage. Data Zoo’s direct access to international data sources and advanced data sequencing presents companies with a global, efficient, and secure alternative to KYC/KYB verification and compliance. Global financial institutions, payment providers, and fintechs use Data Zoo to verify millions of customers while minimizing fraud and risk. Headquartered in Sydney, Australia, the company has offices in Amsterdam, New Jersey, New Zealand, the Philippines, and Singapore. The company raised $22.7M in Series A funding and intends to use the funds to drive adoption and innovation of its identity verification software. The raise follows the appointment of former London Stock Exchange Group executive Charlie Minutella as CEO in February 2024.

  • Aerologix

    Participated · Equity · Nov 2023

    Founded in 2019 by ex‑pilot Tom Caska and former technology consultant Rakesh Routhu, Aerologix operates a marketplace that connects drone pilots with clients requiring aerial imaging. The company has signed up more than 29,000 drone pilots since launch. Aerologix recently completed a $2 million capital raise and has acquired Brazilian mapping software company Mappa to add high‑resolution mapping capabilities. Management says Mappa was the missing piece to build a comprehensive global drone ecosystem. The business is actively expanding internationally, launching in New Zealand earlier this year and now focusing on North and South America. The company is positioning the combined marketplace and mapping stack as the foundation for accelerated global growth.

Team

  • Chris Kourtis

    Founder

    LinkedIn
  • Brian O'Sullivan

    Founder

  • Ashok Jacob

    Founder , Chairman & Chief Investment Officer

  • David Leslie

    Investment Director

    LinkedIn