Square Peg Capital, an Australia-based VC firm has announced the close of its fifth fund totalling $550 million with a focus on Australia, Southeast Asia and Israel.
- The close of this fund brings the total amount raised across all funds to about $1.6 billion. Square Peg has invested in more than 60 companies and returned over $580 million to its investors across 11 exits at an IRR of 42%.
- Square Peg Capital is backed by Australian superannuation funds like Hostplus and AustralianSuper. Other LPs include new and returning investors from family offices, institutions and endowments.
- Square Peg Capital disclosed that Southeast Asia is the firm’s fastest-growing geographical footprint. Half of its last $275 million fund, Fund 3, was invested in Southeast Asia. The firm is focused on five key areas in the region: consumer internet, fintech, edtech and the future of work, health tech and SaaS.
- Some of Square Peg’s investments so far from Southeast Asian include LottieFiles, Doctor Anywhere and FinAccel. Its new fund has also invested in recruitment automation platform Kula and open source Firebase alternative Supabase.
- Portfolio companies from other regions include Canva, Airwallex and ROKT in Australia, and Fiverr and AIDoc from Israel.