Australian VC Fund to Expand Into Israel

Square Peg Capital intends to invest A$100 million a year in Israel and the United States.

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Australian one-hundred dollar banknotes.Credit: Bloomberg

An Australian venture capital fund plans to invest up to A$100 million a year in Israel and the United States, The Australian reported last week.

This will be Square Peg Capital’s biggest push into international investments.

The fund, launched two years ago, has invested as much as A$50 million in 19 investments in startups, mostly in Australia. The fund’s backers include James Packer, Seek cofounder Paul Bassat and the Lieberman family.

Bassat told The Australian that he expected Israel to become the fund’s second-largest market within five to 10 years. The fund also intends to target more established companies, he told the paper.