Here's how startups can crack the US market, according to Australian VCs

Equity

TechCrunch

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4.2 • 365 Ratings

🗓️ 22 May 2024

⏱️ 48 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today, we’re listening back to not one but two interviews from the other side of the globe, thanks to our new co-host Rebecca Bellan, who spent three years in Auckland, New Zealand. Late last year, Rebecca hopped across the Tasman to Australia to report on the startup scene in Australia, and came back to us with a temperature check on VC in the Antipodes. Rebecca spoke to two Aussie VCs: Dan Krasnostein from Square Peg and Gabrielle Munzer from Main Sequence. Rebecca and our guests dug into why early stage funding is popping off in the region, the government's role in growing a startup ecosystem, fintech, climate tech, and what it’s like to compete and collaborate with Silicon Valley.

Transcript

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0:00.0	Hello and welcome back to Equity Tech Crunch's flagship podcast about the
0:14.7	business of startups. I'm Marianne Asavado and this is our Wednesday show
0:18.4	where we hone in on a single topic and dive deep. Today we're listening back to a pair of interviews from the
0:24.0	other side of the globe. Thanks to our new co-host Rebecca Belon who spent three
0:28.6	years in Auckland, New Zealand, lucky her. Late last year Rebecca hopped across the Tasman to Australia to report on
0:35.8	the startup scene in the region and came back to us with a temperature check on VC and
0:40.1	the Antipities. Rebecca spoke with several Ossie and Kiwi VCs to learn more about why early stage
0:45.9	funding is popping off in the region, how founders down under are great at capital efficiency,
0:51.5	and what it's like to compete and collaborate with Silicon Valley.
0:54.7	Let's listen.
0:55.8	Hey, I'm Dan.
0:59.6	I'm one of the partners at Square Peg.
1:01.8	I've been with Square Peg since we started back in 2012.
1:06.6	We are an early stage venture fund typically investing Seed Series A with a very strong commitment to keep investing in companies as they grow.
1:16.4	We invest out of Australia, Southeast Asia and Israel with a real focus on FinTech, B2B SAS, AI, and sort of growing focus in climate and healthcare.
1:29.0	Excellent, yeah.
1:30.0	So one of the things you just mentioned that SquareP really pays attention to is B2B sass and Fintec
1:37.6	which I've noticed are they seem to be two of the biggest industries in Australia.
1:41.9	Can you tell me a little bit about why?
1:43.7	Yeah, it's interesting. I mean, I think maybe just some context on Australia as in general
1:48.9	and then I can dive into them, but the growth of Australia over the last decade has been has been really exceptional. I mean when we started there was I think the number was a
1:58.5	127 million dollars invested into startups which is either a rounding error or one large round.
	...

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