Square Peg Ventures, Victoria Capital merge to form Square Peg Capital

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australia flagAustralian early-stage investment firms Square Peg Ventures and Victoria Capital have merged to form Square Peg Capital.

The new firm will invest on a deal-by-deal basis using capital provided by founder Paul Bassat, ex-Macquarie managing director Tony Holt and billionaire James Packer among others.

Square Peg will take control of the 12 companies both firms had invested a total of $20m prior to the merger, including Vend, NinjaBlocks and Bella Box.

Bassat told StartupSmart they had combined the similar funds to meet a gap in available Australian funds.

He said, “Plenty of people in Australia are providing seed capital, but we think there is a gap in series A, B and subsequent rounds.

“Square Peg was operating on the early stage end of the spectrum with venture capital and Victoria Capital was more focused on the growth stages.”

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