MACDOCH VENTURES SUPPORTS AUSTRALIA & NEW ZEALAND’S
LATE SEED STAGE FOUNDERS. WE PARTNER AT THIS STAGE
AS WE BELIEVE THIS IS THE TIME WHERE FOUNDERS NEED
LONG TERM ALLIES THE MOST.

WHAT WE LOOK FOR:

Stage

Partnership at late seed stage

Geography

Australia & New Zealand
(for the most part)

Sectors

Our current thesis surrounds
networked businesses and
select SaaS but we do engage
more broadly

We have been active seed investors since 2011. We invested in Cliff, Mel and Cameron when Canva was just starting to offer paid subscription plans. We partnered with Dylan and Mark at Qwilr based on their first public beta. Peter and Tony at Mable had 350 carers on their Sydney-based marketplace when we first partnered with them.

We know that saying “late seed” can be ambiguous given how intangible stage is. When we think about late seed stage, we think about a stage for the business, rather than just the name of a funding round. Here are some of the indicators for us:

  • Product built (likely not overly polished yet!)
  • A range of paying customers onboarded from whom you can gather insights and understand how users are engaging with the product
  • Revenue in the realm of $25-50k/month+
  • Maybe you have raised funds from some angels
  • You can start to show evidence of product-market fit and this is visible in operating data
  • You are proving out sales dynamics that can support efficient growth
  • You are looking for capital to try to grow what you have already built

To us, late seed is the round that helps you line up the evidence and traction to justify a Series A. At Series A, you’re at the point of building out your growth engine to rapidly and predictably scale.

At the late seed stage the investor is taking the risk that the company can figure out how to scale.

HERE ARE SOME QUESTIONS WE ARE
COMMONLY ASKED BY FOUNDERS:

Do you only consider companies in ANZ?

We tend to look for opportunities across Australia & New Zealand or founders from the region, and we very rarely make exceptions to this.

What are your preferred sectors? What are your no-go sectors?

We are sector agnostic, though are thesis driven so love to find networked businesses (like marketplaces and others leveraging the power of network effects to scale) and select SaaS. It’s our job to look across sectors to find exciting opportunities. The only sectors we don’t consider are biotechnology/medical companies that require extensive regulatory approval, or where a technical investor would be a better fit (deep tech).

What is Macdoch Group’s typical cheque size?

For an initial investment, anywhere from $200k-$1m, and we look to continue to support you as you grow.

What do I need to demonstrate?

We are looking to understand your story, your traction (this is where product market fit comes to life) and importantly, your vision. Too often the final point is lost in the detail and a focus on the present – we want to dive into your thoughts about the future in great detail.

Do you lead rounds?

Macdoch Group can lead rounds though like to invest alongside other prominent venture investors in the ANZ ecosystem. Some of the co-investments we have made include Wonde, where we invested alongside Tempus Partners and Upswell VC, Canva where we invested with the team behind Investible and Blackbird VC, and Qwilr where we invested with Right Click Capital.

When should I reach out?

The earlier we get to know you, the better.  We’re comfortable with ambiguity and don’t expect you to have it all figured out the first time we meet. For many of our portfolio companies, we first partnered 2-4 years after the company was founded, but we had been on their journeys long before writing our first cheque. We think it’s best for you to develop a relationship with us over time – we can watch your vision become reality and you can lean on us as you grow. We think this is a powerful foundation for a relationship.

How should I get in touch?

THE BIG PICTURE

We’re looking for visionary founders, solving painful problems in large markets… but we know this isn’t differentiated. We think we differentiate based on stage (late seed) and the types of businesses we really love.

We seek businesses that contribute to a more efficient economy in a way that benefits a broad range of stakeholders. These companies grow trusted brands, products and services supporting important purposes and integrating into the hearts and minds of customer in a durable way.

MACDOCH GROUP’S INVESTING THESIS IN ANZ VENTURE

Version 1.0

Invest in large marketplaces where both supply and demand benefit from the existence of the marketplace. These marketplaces differentiate by user experience, and have the ability to retain and grow their value over time, creating defensibility and scale.

  • For example, we’ve invested in marketplaces like Mable (in-home disability and aged care) and MadPaws (pet care)”

Version 2.0

Invest in networks more broadly defined, operating within large global verticals. We saw success in networked businesses under V1, but marketplaces started to evolve to provide services, enabling automated matching, booking and transactions to occur all in the same place.

In parallel, we have invested in SaaS companies that empower individual creativity, design and communication. These companies tend to build on a platform of content, community and commerce that integrates into the hearts and minds of their customer to ensure the more people using it, the more powerful it is.

What makes Macdoch Ventures different?
What makes Macdoch Ventures different?