King River Capital (King River), a technology-focused venture capital firm with offices in Sydney and the US, has held the first close of its second fund (KRC Fund 2), securing commitments of USD95million.
KRC Fund 2 investors include numerous technology entrepreneurs and leaders from companies such as Xero, AfterPay, Mirror, and Palantir, reflecting King River’s strong network of relationships across the industry in both Australia and the US. Other investors include leading institutions and family offices such as Ariadne Australia, Belfer Management and Marinya Capital. The firm is expecting full participation in Fund 2 from existing Fund 1 investors.
KRC Fund 2 will continue the firm’s strategy of working closely with exceptional entrepreneurs and management teams to build innovative, iconic technology companies in the US and Australia. King River provides founders with the capital, experience, and global networks to support expansion and scaling of their platforms and products across international markets.
King River primarily makes early through growth stage minority equity investments in the software sector, across a wide variety of applications and domains. King River’s first fund was committed across eleven companies spanning sectors such as fintech, digital health, logistics, industrial automation, gaming and enterprise software.
King River recently had its first exit in its debut fund, with Sentropy Technologies, the leading technology platform to help digital communities protect themselves from abuse and harassment, announcing a merger with Discord, the voice, video, and text communication service used by over 150 million people. King River led Sentropy’s Series A capital raise in November 2019, with King River co-founder, Megan Guy, serving on the company’s board since then.
King River has also just completed its first investment from the new fund, with its participation in Paystand’s USD50 million Series C raise, announced last week. Paystand is a California-based, blockchain-enabled payment network for business that is leading the movement for an open commercial finance system. Paystand breaks the traditional payment model by automating the entire cash lifecycle so businesses can unlock cashless, feeless, real-time payments.
