Oct 26 (Reuters) – Australian venture capital firm Square Peg Capital said on Wednesday it had raised $550 million in its fifth funding round, bringing its total funds raised so far to $1.6 billion.
Square Peg, whose bets so far include graphic design platform Canva and online freelancer marketplace Fiverr International, will use the funds to invest in early and late stage tech companies in Southeast Asia, Australia and Israel, it said in a statement.
Square Peg will also put the funds towards its core venture fund, which invests in tech startups in the seed stage to series B, and its ‘Opportunities Fund’, which invests in the later-stage funding rounds of companies it has previously invested in.
The funding round comes in the backdrop of weaker equity markets in recent months, bogged down by fears of an economic recession which led to capital outflows from risky assets.
The venture capital firm, which has more than $1 billion in assets under management, counts pension fund AustralianSuper and Hostplus among its investors.
In April, Singapore-based partner Tushar Roy had told Reuters that the firm was looking to double down on investments in Southeast Asia. read more
Reporting by Harshita Swaminathan; Editing by Rashmi Aich
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