First and foremost, we invest in people, and focus on building relationships with empathy and alignment. We partner with remarkable founders and work to ensure they've got the strategic insights and help they need across multiple rounds.
Our founders tell us that scaling teams is the most challenging part of leading high-growth companies. We have a dedicated team that can help diagnose, design and build the foundations of each startup's talent engine, tailored each time.
You're not alone in your founder journey. Building a business is made easier with friends and well-connected allies—a resource we have plenty of. Join a peer group who will be kind, honest and interested in your journey.
What we say about ourselves is half as important as what our founders say about us. Have a read for yourself.
"Square Peg really back their portfolio companies for the long run. They bring multidisciplinary expertise in many different industries, which is hugely insightful for a scaling company."
"What I've experienced over the years is that Square Peg are genuinely founder-aligned. So many times, the team has been on-board for daring or risky dreams that even I worried might be too scary."
"The support we get from every member of the Square Peg team is exceptional—they consistently go above and beyond. The community they are developing is incredibly generous with their time and support as well."
"Partnering with Square Peg was a natural choice for us—it’s always exciting to work with and learn from entrepreneur-driven investors on what it takes to build a successful business. Their support remains pivotal to our purpose to connect business builders with borderless opportunities in every corner of the world."
"Square Peg came early and looked at a non-traditional business with fresh eyes. I didn't expect them to support us for so long, but they kept investing in every round, supporting the company in the good and the bad times. The team is down to earth, extremely professional, fun to work with and see beyond the hype."
"It’s rare to find investors who care about the culture, people and founders of an organisation in a truly authentic way. When we first met, the team had already gone so deep on researching our market that it blew me away."
Whether you're curious about our terms or timeframes, below is a good overview of how we do things.
Square Peg is a global investment firm on a mission to empower exceptional founders. With investing teams in Sydney, Melbourne, Tel Aviv, and Singapore, Square Peg invests in emerging technology companies across the internet economy.
Square Peg today manages US$3 billion in assets across its venture capital, opportunities and global listed equities funds and in addition has delivered material realised returns of US$0.6 billion. Since 2012 we have invested in over 50 companies including Fiverr, Canva, Rokt, FinAccel, Tomorrow and Airwallex.
Through our venture, opportunities and listed equity funds, we invest in tech companies from the pre-seed stage to the post-IPO stage.
Globally, our sweet spot for a new investment is Seed-Series A. We have always been an early-stage investor, and were seed investors in companies such as Canva, Zeller and Tomorrow.
If you’re wondering if you’re ‘too early’ for Square Peg, the answer is you’re not—as an example, we met and invested in Ben and Dom from Zeller just weeks after they founded the company.
The investment process is designed to help us understand your business, learn about your vision and give you the time to get to know us.
If we have a long-standing relationship or you’re at the very early stages, it can take just a few meetings to reach an investment decision. If you’re raising a large round and we haven’t met before, it can take longer.
While we like to make swift investment decisions, we encourage founders to take their time getting to know investors—it’s a decade-long decision, so a few additional weeks of diligence is likely well-spent.
This is how you’ll experience an investment process with us:
1. We’re often introduced to founders via email. This email hopefully includes a compelling deck that explores their idea. When reviewing the materials the founder sent, we look for a few things: a unique insight about an important problem in a big market, a bright vision, and a world-class team with the ambition to go after it. At this stage, we’ll determine whether the business fits our investment philosophy and ensure it’s not directly competitive with any of our existing investments.
2. The first meeting will be 45 minutes to an hour and may happen online or in person. We encourage the founder to do most of the talking and hope we spend the time exploring the insights of their team and specifics of their business.
3. We may meet a few more times to explore any remaining concepts and give the founder plenty of time to ask questions about how we partner with founders and ensure they’re comfortable. You may meet other members of the investment team at this stage.
4. To receive a term-sheet, you’ll meet the global investment team for a one-hour conversation. The team will have already read a detailed briefing note on your business and be prepared with questions they hope you’ll answer. Though high-stakes, this meeting is friendly and conversational. Once the meeting ends, the investment team will vote whether to approve the investment—this means two ‘yes’ votes from the partnership.
5. The Investor you’ve worked closely with will be in touch that evening to discuss next steps.
In anonymous feedback from our founders, we’ve been told we run a quick, transparent and collaborative investment process. Founders have often remarked that the investment process helped them to deepen their understanding of their business. For all founders who meet the team, we aim to ensure this is your experience, too.
We invest in companies founded in Australia and New Zealand, Southeast Asia and Israel.
Most of our portfolio companies expand from the regions in which they were founded to grow in markets overseas. Examples from the portfolio which have taken this journey include Canva, Fiverr, Airwallex and Rokt.
Our funds are structured so that we have complete flexibility to invest between these regions.
The smallest first cheque we’ve written was USD$100k, and our largest first cheque was USD$35m. Usually, most first-cheques are $5-$10m, but we’re happy and able to go smaller or bigger.
As a general rule, somewhere between 10-20% ownership is the most common outcome of a venture investment partnership. In practice, we approach all fundraises with a long-term mindset, which means we’re willing and able to lead and participate in rounds where the fundraising dynamics are different to this standard. What’s important to us is ensuring that the founders and our team are deeply aligned and that the company is well-positioned to go after the mission that drives their team.
One of our core values is anchor to optimism—optimism that the company and founders will be successful—which means we are far more focused on long-term outcomes and options than short-term percentage holdings.
Our investors, or 'LPs' as we call them, are a diverse group of superannuation funds, high-net-worth individuals, team members and family offices. We’re grateful to include world-leading industry pension funds such as HostPlus and AustralianSuper as long-term investors.
We are fortunate to have investors whose approach to venture capital investing is aligned with our own: ambitious, committed and long-term.
Most founders who we’ve invested in connected with us via someone in our network: our portfolio founders, angel investors and VCs we've co-invested with, our LPs, and community leaders in each ecosystem.
On occasion, we have also invested in founders who emailed us cold (Mike from ZeroCo, we’re looking at you).