At a Glance
King River Capital (KRC) has announced the first close of its second fund, raising $95M from a range of existing and new investors. It would continue supporting founders in scaling their products and platform, and its aspirations of building innovative technology companies in the US and Australia
King River Capital (KRC), a Sydney and California-based VC firm that invests in high-growth software businesses, solving critical problems, has announced the first close of its second fund (KRC Fund 2), netting $95 million.
KRC said in a press release that it would continue providing founders with the capital experience and global networks to help expand and scale their platforms and products across international markets using KRC Fund 2. It stated that it would continue working closely with entrepreneurs and management teams to build innovative technology companies in the US and Australia.
The first investment using Fund 2 was in Paystand. The Fund 2 investors include technology entrepreneurs and leaders from Xero, AfterPay, Mirror and Palantir, with participation from Ariadne Australia, Belfer Management and Marinya Capital.
Megan Guy, co-founder and partner at KRC, commented on the funding and said that KRC loved backing diverse entrepreneurs across the US and Australia to reimagine the world by creating the next category-defining technology companies.
Having a concentrated and focused portfolio enables our partnership to fully support our founders at every step of their journeys as they build and scale exceptional products and teamsMegan Guy, co-founder and partner at KRC
KRC, founded in 2018, primarily makes early to growth-stage minority equity investments across various domains in the software and AI-driven technology sector. Since the launch of its first fund in 2019, it has helped eleven companies spanning sectors such as fintech, digital health, logistics, industrial automation, gaming and enterprise software.
Zebediah Rice, co-founder of KRC, expressed delight at the support received from existing and new investors and added,
King River Capital’s ability to provide our portfolio companies with a bridge to high-quality networks in Silicon Valley and key global markets has continued to be a key differentiator for us, not only for the founders we work with but also for our investors.ebediah Rice, co-founder of KRC
Chris Barter, co-founder and partner at KRC, stated that Sydney was turning into a Palo Alto of Asia, with the growth of leading tech innovation emanating from Australia.
We are currently witnessing a once-in-a-generation moment of world-leading tech innovation emanating from Australia. The flywheel moment has arrived with the plethora of capital, engineering talent, and successful exits embedded in a vibrant ecosystemChris Barter, co-founder and partner at KRC