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Archangel Ventures - 2022: Year in Review

2022 was another big year for the Archangel Ventures team!

With Australia returning towards normal, we built on the work done during the past few years to continue our mission to be #1 at round 1. We’re proud of what we achieved last year and look forward to working with our founders and investors to make 2023 even better than 2022!


  • Raised our first ESVCLP ($32M+) in under a month with some of Australia’s best founders, investors and family offices.
  • Hit $10M+ total invested in Australian startups with $5M+ in 2022 via 31 companies.
  • To date, backed 40+ companies and 90+ founders across 60+ funding rounds.
  • Invested across a wide range of industries, including SaaS, health, fintech, e-commerce, AI and deeptech.
  • Listed in Signature Block's 50 Emerging Managers highlighting VC's best new fund managers as a nominated by founders and LPs.

In 2022, we successfully raised our second fund ($32M+), after fully deploying our 2021 Fund. Our 2022 Fund will allow us to continue investing and supporting founders at the earliest stages.

Our investments span a range of sectors for both portfolio diversification and to fund opportunities that may otherwise be underserved by VC investment in Australia.

2022 chart: Pie chart of investments by sector

In 2022, we led or arranged 7 rounds, highlighting the team's ability to reach conviction quickly and identify other pockets of supportive capital for early stage founders. Many of our coinvestors this year were leading foreign and domestic VCs, including Blackbird, Square peg, Portage, OIF, evp, Main Sequence, Firemark Collective, Flying Fox Ventures, Antler, TEN13, Treble capital, Utiliti Ventures, AfterWork Ventures, Giant Leap, Jelix Ventures and others. We continue to build on our reputation as a positive signal of early stage founders for later VCs.

2022 chart (monthly basis) highlighting split between Pre-Seed and Seed investments

Our portfolio companies have also reached new horizons, with additional rounds raised and milestones unlocked.

  • Aerotruth raised $1.3M in an oversubscribed Seed round (led by Archangel) to support their global growth plans,
  • Bare raised $10M in a Series A for new investments in digital products,
  • Trendspek raised $6.3M to accelerate product development and expand global footprint,
  • Pearler raised $7.8M, led by a global fintech investor for the continued development of the core technology,
  • Vively raised $1.5M (led by Archangel) to capture the Asia Pacific market as it tackles metabolic health and wellness, and
  • Heaps Normal's beers continuing to be recognised as just great beers (top 50 in the Great Australian Beer Spectacular list) - only non-alcoholic beer in the top 100,
  • Azura's 'Reborn Pre-loved' being showcased as part The Iconic's Runway X fashion show.

We are incredibly proud of both the work and efforts that each of our founders and portfolio companies tirelessly commit, and it is a real privilege to be able to support them on their journeys to scale.

If you're a founder in need of capital or an investor interested in a diversified fund of Australia’s best early stage opportunities, please reach out to the team or via the form below. We’d love to hear from you!

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