Equity management platform Carta launches in Australia, 'bullish' on local ecosystem
The cap table and equity software provider has opened an office in Sydney and views Australia and its startup scene as a key growth market.
US equity management platform Carta has soft-launched in Australia, opening its Sydney HQ this week to capitalise on what it describes as “the country’s growing startup ecosystem”.
Carta currently manages nearly USD3 trillion ($4.65 trillion) in equity for over two million stakeholders worldwide and sees Australia — ranked 11th on the Global Startup Ecosystem Index — as a key growth market.
According to Carta’s investment stats, Australian startups raised nearly $2 billion in the first half of 2023, a 30% year-on-year increase. AI and big data companies accounted for $75 to $100 million of this funding.
"Australia is one of the few markets in the world that actually produces global B2B players," said Bhavik Vashi, Carta's managing director for Asia Pacific and Middle East. He pointed to the country's R&D tax incentives as a key driver for continued tech development and startup growth.
