Led · Equity · Nov 2021

Raiz Invest is a mobile-first Australian fintech platform that helps customers save and invest through micro-investments primarily in exchange-traded funds (ETFs) and model portfolios. The platform offers educational content and investment tools aimed at a customer base ranging from beginners to experienced investors. State Street Global Advisors’ SPDR S&P/ASX 200 Fund is currently the largest single fund holding in Raiz’s model portfolios, and Raiz also makes other SPDR funds available on the platform. Under a strategic relationship with State Street Global Advisors, Raiz will leverage SSGA’s international resources, market insights, and investment capabilities to expand financial literacy content and product offerings for Australian retail investors. Company executives emphasized collaboration on educational tools across the customer lifecycle, including superannuation and retirement portfolios. Raiz launched in 2016, and the parties said the arrangement creates opportunities for innovation in Raiz’s product offering. Raiz Invest Ltd is a mobile-first micro-investing fintech that started as Acorns and launched in 2016. Its app targets 18 to 35-year-olds and has helped more than 500,000 young Australians save and invest. The company recently surpassed $1 billion in funds under management. Raiz reports an average customer acquisition cost of less than $12 for a paying customer. Founders George Lucas and Brendan Malone lead the business; Malone is Joint Group CEO. Raiz plans to scale over the next 12–24 months with a major advertising push via Seven West's media assets.

Participated · Series B · Aug 2021

Open is a software company that offers an embedded insurance platform to resellers of general insurance (home, car, travel) and operates a direct-to-consumer brand, Huddle. Its platform enables partners such as Telstra and Ahm to sell and manage insurance products digitally with lower overhead. Open sells insurance underwritten by third-party insurers, which makes the business more capital efficient and produces lower loss ratios and a lower cost to acquire $1 of written premium compared with some peers. The company was founded in 2016 by UK ex-pats Jason Wilby and Jonathan Buck and is headquartered in Australia, with a growing number of staff based in New Zealand. Open is launching in New Zealand (underwriting agreement signed with Tower) and plans further international expansion from 2022, with local recruitment underway and discussions with underwriters and partners in target geographies. Its written premium and recognised revenue increased 400% in FY21 and are on track to grow another 300% in FY22.

Participated · Equity · Oct 2017

Airtasker operates a two-sided marketplace where consumers post tasks—ranging from home repairs to administrative support—and qualified ‘Taskers’ bid to complete the work. The company leverages media-for-equity partnerships to build brand awareness and accelerate geographic expansion in Australia, the United States, and the United Kingdom. In FY25, Airtasker’s revenue increased 12.8% to A$52.6 million, driven partly by a 111% surge in UK marketplace sales to A$21 million. Despite a net loss of A$31.5 million—largely attributable to A$46.3 million in sales and marketing spend and unrealised accounting losses—the business achieved positive free cash flow of A$1.2 million. Management views proactive marketing, particularly through media partnerships, as critical to scaling the platform and cementing Airtasker as a household name in key markets. The company has secured more than A$51 million in media deals during 2024 with partners such as oOh!media, ARN, TelevisaUnivision, iHeartMedia, Sinclair and Mercurius. Airtasker’s current focus is to deepen penetration in the UK while continuing to grow its user base and task volume across existing regions.