Square Peg Capital
Square Peg Capital is an Australian venture capital firm founded in 2012 that invests in early-stage AI, Fintech, and SaaS startups across APAC and Israel. It manages over $1 billion in assets across 50+ portfolio companies, including Canva, Airwallex, and Rokt.
- Company typePrivate
- Founded2012
- HeadquartersSurry Hills, Australia
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Square Peg Capital does
Square Peg Capital is a private venture capital firm founded in 2012 and headquartered in Melbourne (with presence in Surry Hills), Australia, that invests in early-stage technology companies across the Asia-Pacific region. The firm concentrates on three stated themes — AI, Fintech, and SaaS — and operates across Australia and New Zealand, Southeast Asia, Israel, and selectively the United States, managing more than $1 billion in assets under management across 50+ portfolio companies that include three unicorns: Canva, Airwallex, and Rokt. Square Peg operates as an Authorized Representative of Victoria Capital Pty Ltd (AFSL 428989) for regulatory purposes, while investment decisions are made autonomously by an operator-led team of co-founders (Paul Bassat, Barry Brott, Justin Liberman, Tony Holt) supported by partners, principals, and a dedicated head of distribution.
The firm generates revenue through the standard VC model: management fees on committed assets under management (typically 1.5-2% annually) plus carried interest on profitable exits. Distribution of capital occurs via direct equity investments ranging from seed through Series D, with Square Peg both leading rounds (e.g., Octen $10M seed, co-leading Aidoc $150M and Limitless Labs $20M) and participating alongside global co-investors such as General Catalyst, TCV, DST, Addition, Dell Technologies Capital, Blackbird, and AirTree. Beyond capital, Square Peg differentiates through a concentrated-portfolio model that allows multi-stage commitment and ongoing board-level support, formalized under a portfolio platform referred to as Square Peg Plus, and through ecosystem partnerships with accelerators (Startmate) and strategic partners (OpenAI, Commonwealth Bank).
Recent strategic activity underscores a thematic tilt toward AI infrastructure and applied AI, with new investments in AI-native companies (Qodo for AI code review, Octen for AI agent web search, Lorikeet for AI customer service, Aidoc for clinical AI) alongside continued participation in infrastructure and fintech rounds (Neara, UpGuard, Xflow, Tomorrow.io, Amber Electric). The firm sources deals through founder networks, accelerator partnerships, and regional ecosystem presence rather than mass-market marketing, and supports portfolio companies through subsequent funding rounds and global expansion.
Square Peg Capital firmographics
Firmographics- Name
- Square Peg Capital
- Legal name
- Square Peg Capital Pty Ltd
- Website
- https://squarepegcap.com
- Company type
- Private
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Square Peg Capital is an Australian venture capital firm founded in 2012 that invests in early-stage AI, Fintech, and SaaS startups across APAC and Israel. It manages over $1 billion in assets across 50+ portfolio companies, including Canva, Airwallex, and Rokt.
- Ownership category
- akta.pro rank
Square Peg Capital industry classification
Industry- Product category
- Venture Capital
- NAICS
- Other Investment Pools and Funds (5259), Other Financial Investment Activities (5239)
- SIC
- Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- Sector-Focused Venture Capital (Vertical Specialists) (FSANAAAD)
- akta.pro secondary industry
- Financial Services / Fintech Growth Equity (FSANACAE)
Keywords
Where Square Peg Capital is headquartered
LocationHeadquarters
- HQ city
- Surry Hills
- HQ country
- Australia
- HQ region
- Oceania
Offices2 records
Markets served
Square Peg Capital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Venture Capital Returns: Square Peg generates returns through equity ownership in portfolio companies, realizing returns via IPOs, trade sales, and secondary transactions when portfolio companies exit.
- Management Fees: VC firms typically charge management fees on assets under management, typically 1.5-2% annually, with performance fees (carried interest) of 20% on profits above the hurdle rate.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels4 records
Square Peg Capital product offering
Product offeringCore offering
Square Peg Capital is a venture capital firm that provides equity funding and strategic support to early-stage technology startups in AI, Fintech, and SaaS sectors across Australia, New Zealand, Southeast Asia, and Israel. The firm invests from seed through growth stages and generates returns through IPOs, trade sales, and secondary transactions of portfolio companies.
Product overview
Square Peg Capital is a venture capital firm focused on investing in founders from Australia, New Zealand, Southeast Asia, and Israel. The firm specializes in AI, Fintech, and SaaS sectors, providing capital and support to early-stage companies. Their portfolio includes notable companies such as Canva, Airwallex, Rokt, Zeller, Supabase, and others. The firm offers investment services through multiple funds and maintains a portfolio companies platform (Square Peg Plus) for founder support.
Differentiator
Problem solved
Functional benefit
Products and services
- Early-Stage Equity Investment Funds Venture capital investment funds providing equity capital to early-stage technology startups from seed through Series B and beyond, across AI, Fintech, and SaaS sectors in APAC.
- Growth-Stage Equity Investment Later-stage equity investments (Series C and beyond) for proven technology companies, providing follow-on capital for scaling operations and global expansion.
- Square Peg Plus (Portfolio Support Platform)
Quantifiable outcome
- $1B+ USD assets under management
- +1 more outcomes
Companies that use Square Peg Capital
Customer profileNamed customers10 records
Segments1 record
Ideal customer profiles1 record
Square Peg Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Square Peg Capital partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered minor.
- Commonwealth Bank of AustraliaminorCommonwealth Bank partnered with Square Peg to provide mentoring from Square Peg as part of the CommBank Business Innovation Awards program, offering bootcamps and mentorship to winning SMEs
- OpenAIminorOpenAI partnered with Square Peg along with Blackbird and AirTree to provide API credits and technical mentorship to Australian startups through the OpenAI for Australia program
Scale indicators3 records
Recent moves6 records
Expansion highlights5 records
Square Peg Capital competitors and assessment
Company assessmentDirect peers
- Blackbird Ventures: Leading ANZ-focused VC investing in early-stage tech. Direct competitor for Australian and New Zealand deals across SaaS, fintech, and AI; frequently co-invests with Square Peg (e.g., OpenAI partnership, Lorikeet).
- AirTree Ventures: Australian VC firm investing from seed to growth. Directly competes for ANZ tech deals and co-invests with Square Peg in rounds including Lorikeet and the OpenAI for Australia program.
- General Catalyst: Global VC with strong fintech and healthcare AI focus. Frequent co-lead with Square Peg (Aidoc $150M, Xflow $16.6M lead) and direct competitor for APAC growth-stage opportunities.
- QED Investors: Fintech-specialist VC with strong APAC presence. Co-investor in Airwallex and Lorikeet and direct competitor for top APAC fintech opportunities across ANZ and SE Asia.
Broad incumbents
- Sequoia Capital: Global VC with deep APAC operations (Sequoia China/India/SEA). Competes for top APAC growth deals and co-invests with Square Peg in marquee rounds like Airwallex.
- Lightspeed Venture Partners: Global VC with APAC presence and strong fintech/SaaS franchise. Co-investor in multiple Square Peg rounds (Xflow, others) and competes for enterprise tech and fintech deals.
- Accel: Global VC with US, Europe, and Israel operations. Competes for Israeli and global tech deals and has been active in APAC enterprise software investments.
- Index Ventures: Global VC with strong presence in Europe, Israel, and the US. Competes for Israeli tech deals and increasingly active in fintech and enterprise SaaS investments relevant to Square Peg's portfolio.
- Bessemer Venture Partners: Global VC with US, India, and Israel operations. Competes for cloud and SaaS deals and is expanding APAC presence through its India franchise, increasingly relevant for ANZ cross-border opportunities.
Regional players
- Openspace Ventures: SE Asia-focused VC investing across early-stage tech. Competes for SE Asian fintech and SaaS deals in Indonesia, Vietnam, and Singapore — a region where Square Peg is also active.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
Square Peg Capital social profiles
Digital presenceSquare Peg Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
Square Peg Capital leadership team
Management profileNumber of profiles
Profiles11 records
Square Peg Capital funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Square Peg Capital M&A and investment
M&A and investmentM&A
Investments188 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Square Peg Capital
What does Square Peg Capital do?
Square Peg Capital is a venture capital firm that provides equity funding and strategic support to early-stage technology startups in AI, Fintech, and SaaS sectors across Australia, New Zealand, Southeast Asia, and Israel. The firm invests from seed through growth stages and generates returns through IPOs, trade sales, and secondary transactions of portfolio companies.
Is Square Peg Capital a public or private company?
Square Peg Capital is a private company. It is classified as unknown and is currently operating.
When was Square Peg Capital founded?
Square Peg Capital was founded in 2012. It employs 11 to 50 people.
Where is Square Peg Capital based?
Square Peg Capital is headquartered in Surry Hills, Australia, in the Oceania region.
How does Square Peg Capital make money?
Two revenue lines are on record. Venture Capital Returns are the primary driver. The others are management Fees.
Who are Square Peg Capital's main competitors?
Direct peers on record are Blackbird Ventures, AirTree Ventures, General Catalyst and QED Investors. Broad incumbents are Sequoia Capital, Lightspeed Venture Partners, Accel, Index Ventures and Bessemer Venture Partners. Openspace Ventures is listed as a regional player.
Does Square Peg Capital have an API?
No public API is recorded for Square Peg Capital.
What industry is Square Peg Capital in?
Square Peg Capital's product category is Venture Capital. Its primary akta.pro industry code is FSANAAAD, Sector-Focused Venture Capital (Vertical Specialists), with a secondary code of FSANACAE, Financial Services / Fintech Growth Equity. Its NAICS code is 5259 and its SIC code is 6211.