Startmate Celebrates 10 Years of 3.29x Returns, $4.5B Portfolio
Sydney-based venture capital firm Startmate has celebrated a decade of impressive returns. From 2011 to 2021, it multiplied investors' funds by 3.29 times. In the past year alone, its portfolio companies added a combined value of $1 billion.
Startmate's success is marked by several standout investments. Uluu, a Perth startup, was valued between $10-$50 million last year. This follows an $8.6-million seed round in 2022, which included a contribution from supermodel Karlie Kloss. Another notable investment is Mountain View-based cybersecurity firm Upguard, now worth 236 times its initial value, making it Startmate's most valuable investment to date.
Edrolo, a company invested in by Startmate in 2013, grew its value to 132 times by 2025. Happy Co, another early investment, yielded a 169x return a decade later. These successes have placed Startmate in the top 25 per cent of global funds for 11 out of 13 years, and in the top 5 per cent for 5 of those years.
International celebrities have shown interest in Startmate's portfolio. Mark Cuban and Ashton Kutcher have invested in its companies over the past 15 years. Recently, another international celebrity has joined their ranks.
Startmate's portfolio companies now have a collective value of $4.5 billion. With a track record of impressive returns and high-profile investors, the firm continues to make waves in the venture capital scene.
