Airtree, a Sydney-based venture capital firm focused on backing technology companies in Australia and New Zealand, has announced the close of its fifth fund: a US$250 million Seed fund and a US$400 million Growth fund.

The milestone reflects continued momentum in the region, which has emerged as a source of globally competitive technology businesses.

Companies such as Linktree, Employment Hero and Go1 have achieved unicorn status, while newer ventures including ProcurePro, Constantinople, Fetch, Human and Haast highlight the growing depth of innovation.

Fund V has attracted investment from international institutional partners, including several who have previously backed leading Silicon Valley firms.

“We are filled with gratitude and excitement for the chapter ahead. Our heartfelt thanks to the founders who have put Australia and New Zealand on the map, those who have chosen to partner with us, and to the LPs who have supported us from the beginning of our journey, a decade ago,”

Airtree said in a statement.

The firm has also announced the promotion of three team members, Dan Coughlan, Sid Kasbekar and Raaj Rayat, to the role of Principal. Each joined the firm early in their careers.

“Airtree doesn’t just back founders from the beginning; we also take pride in investing early in tenacious young investors,”

the statement added.

“Dan, Sid and Raaj live the values we champion, hunger, humility, and insatiable curiosity.”

Founded in 2014, Airtree invests across sectors and stages, with a portfolio that includes several of the region’s most prominent technology companies.

The article first appeared on Fintech News Singapore

Featured image credit: Airtree