Stripe-backer Square Peg Capital closes $180m fund

Australian venture capital firm Square Peg Capital has closed its latest fund with $180m (AU$234m).

The Melbourne-based firm invested in payments disruptor Stripe’s $100m Series C round in July 2015.

It also counts Asian online property portal PropertyGuru among its portfolio as well as Uber.

Square Peg was established in 2012 by Paul Bassat, a co-founder of Australian job search platform Seek. It previously acted as collective rather than an investment fund.

The new fund exceeded its $152m (AU$200m) target with $38m coming from Hostplus, a superannuation fund for employees in hospitality.

High-net-worth individuals and entrepreneurs made up the rest of the funding.

Square Peg will be use the fund to invest between $22m and $35.5m in startups across Australian, New Zealand, South-East Asia and Israel.

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