Square Peg locks in $650m as new fund vintage hits first close
Paul Bassat's venture capital firm has completed the first close on Fund 6 and Opportunities Fund 3, and has already begun deploying capital — including into portfolio star Airwallex.
One of Australia's 'big three' venture firms Square Peg Capital has navigated the difficult fundraising environment and completed the first close for its latest vintage of funds, locking in $650 million from new and returning institutional investors.
The Melbourne-based firm told Capital Brief it is now investing from its Fund 6 and Opportunities Fund 3 ahead of a final close, with the final raise amount yet to be determined.
After enquiries from Capital Brief a Square Peg spokesperson said the firm was "extremely grateful" for its investor base, which includes "a number of leading superannuation and pension funds, university endowments, family offices, wealth advisors, and founders, who continue to back us."
Via the new vehicles, Square Peg recently participated in flagship portfolio company Airwallex's USD500 million Series G round, which valued the Melbourne-founded payments platform at USD8billion.
