Latest updates for ANZ sales professionals
Andrew and Nicola Forrest's Minderoo Foundation is backing Startmate with $2 million per year over four years to support women founders. The accelerator already invests in women-led startups at nearly double the industry rate: 43% versus 24%.
Australian capital gains tax changes are pushing tech founders and sales talent to the US, where equity is taxed at 15% versus Australia's 30% minimum. The policy shift hits hardest for startups using equity to compete with enterprise employers for top AEs and sales leaders. For ANZ sales professionals, the math is stark: US offers now include currency premium plus better equity treatment.
Ben Lerer, managing partner at New York early-stage fund Lerer Hippeau, explains why his firm deliberately passes on sensible businesses to chase power-law outcomes. His thesis: every dollar in a safe company is a dollar not chasing a fund-returner. The firm runs on conviction, not consensus, and Lerer aims to be the worst investor at his own fund.
Canberra waste-tech startup Goterra entered administration after burning through $20M+ in funding. The collapse highlights a structural problem: climate tech companies outgrow venture capital before they are bankable for infrastructure finance. For sales professionals, this funding gap means unstable comp, sudden layoffs, and territory shutdowns at late-stage climate startups.
Startmate landed $8 million from Minderoo Foundation to back more women founders through its accelerator. The program puts in $120k at seed for 10% equity, runs 12 weeks of programming, then supports until the next round. Track record: 52% of founders raise $1M to $4M post-program. Female founders get 2% of VC funding in ANZ despite better returns.
Silicon Quantum Computing landed $40m from the National Reconstruction Fund, bringing its government backing to $60m in three months. Dentroid, Earlytrade, and ReSmart closed the remaining $47.3m. The week sits within Australia's $5.1b funding year, third-largest on record.
Richard White-backed Vinyl Group (ASX:VNL) closed Time Out Australia for nominal consideration, 24 hours after picking up Pedestrian.TV from Nine. Raised $2.4m at $0.054 per share to fund integration. Time Out Australia is profitable, expected to be earnings accretive in FY27.
Australian construction fintech Earlytrade secured $14.2 million in new funding, bringing total raised to $35.5 million. The company is expanding US operations and hiring into sales roles as revenue grows sevenfold since 2024 launch. Worth noting for construction fintech sales professionals: the sector is still attracting capital.
Federal government is considering exempting startups from its proposed capital gains tax overhaul after weeks of industry backlash. The change would replace the 50% CGT discount with cost-based indexation from July 2027, materially increasing founders' tax bills on exit. Ministers are working through eligibility criteria, potentially using existing startup incentive frameworks.
The federal government has axed its Startup Year program after attracting just 8 participants from a target of 2,000 annual loans. The scheme offered HECS-style funding for university students in startup accelerators. $80,000 was drawn down before the May budget killed it.
Canberra ag-tech startup Goterra, backed by Mike Cannon-Brookes' Grok Ventures in an $8 million Series A, has appointed administrators. The insect-waste processing company says it has working tech and contracted customers but ran out of runway chasing growth capital. Teneo is pursuing a going-concern sale.
The Victorian government has axed its Startup Year program, which burned $15.4 million over four years to attract just eight participants. The scheme offered HECS-style loans for university students joining startup accelerators. It was meant to support 2,000 students annually.