Australian Tech Dynamism: Why We Need It
We’re going through a technology renaissance.
The US has and will continue to be a leader in technology innovation, but some big changes are happening outside.
Emerging regions like ANZ, LatAm, Israel, Europe, and Southeast Asia are finally getting their dues.
Regions like these are starting to make their mark on the world stage and it clearly demonstrates that technology no longer has borders.
But out of all of them, ANZ is one of the youngest that has the most room to grow and innovate in years to come.
I’m an Australian who moved from Sydney to SF ten-odd years ago.
I made the move to get access to Silicon Valley (SV) to learn from some of the best minds in technology and business but also get involved in startups and learn how to build world-class companies. I thought of doing an MBA to boost my credentials but then figured I’d instead jump into the deep end and get my degree by being immersed in the startup world.
I then spent the next several years working and living in the Bay Area across a bunch of startups from the earliest of days to being involved in raising capital and some eventually getting acquired — engineering, product, sales, and even marketing.
It was an incredible experience but also bittersweet.
While I loved SV, it had always been my plan to come back to Australia and use the network, experience, and skills I gained to build and promote Australia’s tech ecosystem.
You’ve probably heard of Canva and Atlassian — these are the darlings.
They’ve made the biggest splash on the global stage, but what you probably don’t know is that there are hundreds more like them coming out of Australia (and New Zealand), and it's growing every year!
The image below shows the acceleration in the number of companies that have been created valued at $100M+
After coming back in 2023, I started a VC fund (Metagrove Ventures) to put a spotlight on these founders and what they were building, and value-add as much as I could — get them funding, help expand into the US, and connect them with the right people.
Ultimately the goal of the fund is to build an ANZ-Silicon Valley bridge to bring ANZ startups into the US.
ANZ is an underrated region — world-class education, strong innovation, and similar cultural values with the US, and it’s also a great testing ground for US companies i.e. Stripe, Rippling, etc. (but not Starbucks, sorry)
The technology sector is the third highest contributor to GDP and will continue to grow into the foreseeable future.
Because of this, many US LPs I know have expressed keen interest in the region but don’t know anyone on the ground sourcing deals and interacting with the founders, etc.
This is where I believe we have identified an opportunity and a gap in identifying these extraordinary individuals and early-stage investing.
Strategically, we invest early and build enough traction to create a pipeline into the US (and other regions) — investor introductions, customer acquisition, partnerships/joint ventures, etc.
Doing all of this provides an opportunity for the founders and gives them a chance to showcase their ingenuity, innovation, and drive.
The overall region is changing drastically.
Founders are becoming more ambitious and aspirational to build impactful companies on a global scale.
They understand technology is a tool they can leverage to realize their ideas and I’m super excited about where this region stands and where it’s going.
Metagrove Ventures is an early-stage investment venture capital fund, focused on supporting founders and companies who are building the future of industry by creating inflection points in the market.
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