Global Investors Back Australian Startups in $425 Million Fund

Airtree Ventures, an investor in Canva Inc. and AirWallex, has closed a $425 million fund focused on Australia and New Zealand, saying international interest is growing in the region’s startups.

The firm’s fifth fund comprises AU$250 million ($163 million) for seed investments and A$400 million for startups that are scaling up, it said in a statement on Wednesday. In addition to design software provider Canva and payments firm Airwallex, Airtree’s portfolio includes seven other unicorns such as Go1 and Linktree.

The Sydney-based venture firm named MetLife Investment Management as an investor in the new fund, adding that ...