King River Capital Announces Successful First Fund Closing,Investments in Two Start-Ups
SYDNEY, March 12, 2019-- New venture capital fund, King River Capital (KRC), today announced thefirst close of its initial fund and the completion of its first twoinvestments in FinClear and Cover Genius.
KRC provides early stage Australian and overseas-based softwarecompanies with the capital, knowledge and international relationships toenable global expansion opportunities.
Based on this initial early stage fund close, KRC will be looking toinvest in 15-20 companies with an average investment of AUD$10m, over3-4 years. Though stage-agnostic, KRC will be focusing on late-Series Aand Series B investment opportunities in the technology and softwaresector. The fund’s capital was obtained from Australian, US, Asian andEuropean sources.
Further to the initial funding close, KRC also announced the completionof investments in FinClear and Cover Genius.
•FinClear - an ASX general clearing and settlement participant offeringa full-stack technology solution to third-party clearing andsettlement for market participants within the Australian stockbrokingcommunity
•Cover Genius – a provider of car rental, travel, package, white goodsand consumer electronics insurance to ecommerce platforms. CoverGenius is the only truly global multi-line insurance platform designedto scale and meet the needs of increasingly global e-commercebusinesses.
With the close of its first funding round and completion of its firsttwo investments, KRC also announced that Megan Guy has joined as apartner and co-founder to lead KRC’s operations in San Francisco.
“King River Capital will be the bridge to Silicon Valley for Australia’sburgeoning tech start-up scene. We will be deploying capital, knowledge,relationships and expertise for Australian tech start-ups seeking to goglobal,” said King River Capital co-founder, Zebediah Rice. “And we areproviding access to some of the best investment opportunities in SiliconValley for our investors here in Australia.”
“King River Capital is focused on finding companies that offerhigh-growth, scalable opportunities in the technology sector. As asmaller fund, we have the benefit of greater agility, low pressure todeploy capital, high filtering and high-touch oversight,” said KingRiver Capital co-founder, Chris Barter.
Kurt Graham - +61 431 478 558
Venture Capital Database