For Founders
We back Australian founders who are building what matters.
Antipodean Capital's ESVCLP Co-Investment Fund exists to back early-stage Australian companies at the moment they need capital most — and to do far more than just write a cheque.
We've been investing in Australian venture capital since 2019, working alongside more than 20 of the country's leading VC managers. That experience taught us what founders actually need: patient, well-connected capital that works in your corner from day one. So we built a fund designed around exactly that.
How We Work With Founders
01 — Early Capital, When It Counts Most
We invest at pre-seed, seed, and Series A — the stages where capital is hardest to find and where the right backer makes the biggest difference. Our cheque size of $150,000 per stage sits alongside your lead VC, extending your runway without introducing another investor who might compete with them for pro-rata rights or influence. We are here to complement your cap table, not complicate it.
Our co-investment strategy focuses on six sectors where Australia has a genuine competitive advantage: Technology, Climate, Food and Agriculture, Mining Technology, Healthcare, and Defence and Science. We back Australian entrepreneurs who are building in these areas, early, before the rest of the world catches on.
02 — We Partner With Your VC, Not Around Them
Antipodean will never compete with a VC manager. Our fund works symbiotically with the managers who introduce companies to us — and where we invest in a company a GP has referred, we hand their pro-rata rights back to them. We want your existing VCs to see us as an asset, not a threat.
Our deal flow comes from a rotating GP Advisory Board drawn from across our network of 20+ VC managers, each bringing sector-specific expertise across our six investment silos. Three GPs sit on the board at any one time, rotating quarterly over the fund's three-year investment period, so the companies we see represent the best thinking across the Australian VC landscape — not just one manager's view.
03 — A Network of Founders Who've Been There
Before we invest, we ask one question first: how can we help?
Our Founder LP Advisory Board is made up of experienced Australian founders and operators — people who have built and scaled businesses across the same sectors we invest in. Three mentors from each of our six silos sit on a rotating board, available to pressure-test your model, open doors, and help you grow your ARR before a term sheet is even on the table.
We believe the best investors bring people, not just capital. Our founder mentors have run businesses, navigated funding rounds, and in many cases achieved the kinds of exits you're working toward. They know what good looks like — and they're here to help you get there.
04 — Global Macro Intelligence, Built In
Antipodean Capital is, at its core, a world-leading global macro research and advisory firm. When you join our portfolio, you gain access to that intelligence directly.
Understanding where interest rates are heading, which markets are opening or closing, where currency tailwinds or headwinds are emerging — this is the kind of insight that can sharpen a go-to-market strategy, inform a fundraising timeline, or help you anticipate the macro conditions your business will face as you scale. Our research has been trusted by family offices, superannuation funds, and sovereign wealth funds for over 20 years. Now it works for our founders too.
Why Australia, Why Now
Australia is the third-largest market for decacorn creation outside the US and China — producing more unicorns per dollar invested than any other country in the world. Seed valuations in Australia remain approximately 45% below their US equivalents, which means when you back Australian founders early and they scale internationally, the valuation uplift is significant.
The ESVCLP structure amplifies this further, providing investors with a 10% upfront tax deduction and full CGT exemption at the point of capital return — making it one of the most tax-efficient growth investment vehicles available in Australia.
We think the current vintage is exceptionally attractive. Early-stage VC valuations are sitting at 2015–2016 levels. For founders, that means less dilution. For our investors, it means better entry points. For the ecosystem, it means now is exactly the right time to be building.
The Sectors We Back
We invest in six areas where Australia has a structural competitive advantage or where the country urgently needs innovation:
Technology — Deep tech, artificial intelligence, fintech, medtech, and enterprise software
Climate Technology — Clean energy, carbon reduction, and sustainability solutions
Food and Agriculture — Agtech, alternative proteins, and supply chain innovation
Mining Technology — Automation, efficiency, and environmental solutions
Healthcare — Biotechnology, medical devices, and digital health
Defence and Science — Advanced materials, space technology, and quantum computing
Our Commitment to You
We will always ask how we can help before we ask whether we should invest. We bring our founder mentors to meet you early. We share our research openly. And if we do invest, we stay engaged — through our Founder LP Advisory Board, through our macro insights, and through the broader Antipodean client network which includes some of Australia's leading family offices and institutional investors.
Our fund is intentionally focused. We are targeting $15–25 million in capital — not a large fund chasing FUM. That means every company we back matters to us, and we have every incentive to help you succeed.
Get in Touch
If you're building in one of our six sectors and raising at pre-seed, seed, or Series A, we'd love to hear from you.
Craig Ferguson Founder, Antipodean Capital craig@antipodeancapital.com.au +61 422 907 465