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AirTree raises $495m to back Australian startups

Hefty haul signals investors' risk appetite despite tech sell-off

Australian venture capital firm AirTree Ventures says investors are still eager to bet on tech startups. (Photo courtesy of AirTree Ventures)

TOKYO -- Australian venture capital firm AirTree Ventures on Tuesday said it raised 700 million Australian dollars ($495 million) to make new bets on startups, signaling strong investor appetite for the sector despite a pullback in technology stocks in public markets.

The haul, which AirTree said was the largest in the country, is split across three new funds. A AU$200 million seed fund will focus on backing companies in early stages, a AU$450 million growth fund will add firepower to more mature companies, and a AU$50 million "Web3" fund will invest in cryptocurrency-related projects such as decentralized finance, non-fungible tokens and decentralized autonomous organizations.

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