Investor · 1 deal

Correlation

Disclosed deals

Every published round Correlation took part in, and every parcel of existing shares it bought off another holder. Deals we hold but haven't published yet are not counted.

Company	Stage	Announced	Amount	Role	Alongside	Sources
eGuarantee	Unnamed stage	13 Feb 2026	$5.5m	Participant	-	Startup Daily, SmartCompany

Portfolio

Companies Correlation has backed in a published round, and companies whose existing shares it bought off another holder.

Company	What it does	First invested	Rounds	Led
eGuarantee	Digital Lease Bond platform for commercial property leases	13 Feb 2026	1	0

Funds

Fund closes reported for Correlation, as distinct from the investments it has made.

Fund	Announced	Committed	Target	Close	Sources
No fund closes recorded for Correlation yet.

Portfolio companies acquired

Companies Correlation has backed that another company then bought. An exit for the holding, not a deal Correlation did.

Company	Bought by	Kind	Announced	Price
No portfolio company of Correlation is recorded as having been acquired.

Coverage

Stories naming Correlation. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.

15 deals

Cheque-in: 10 ANZ startups raised nearly $193 million this week

Weekly roundup of ten Australian and New Zealand startup raises totalling nearly $194 million, topped by Neara's $90 million round at a $1.1 billion valuation, with Splose, Operata, HAMR Energy and Adora also covered.

Startup Daily 13 Feb 2026 Adora Contented eGuarantee Fluency HAMR Energy Neara Operata splose Wellumio Artesian VC Atlassian Canva Chess.com Deel Employment Hero Facebook Gemini Granola Netflix New Zealand government Notion Replit Revolut Siteminder Snowball Effect Spotify Startmate Swinburne Innovation Studio Xero Accel Airbus Altered Capital Archangel Ventures Athletic Ventures Blackbird Ventures Black Nova Venture Capital Booster Carya Venture Partners Correlation Co Ventures Cure Kids Ventures Designer Fund DST Global Partners Enterprise Angels EQT EVP Exhort Ventures Flying Fox Ventures Flying Kiwi Garuda Ventures Ghost VC Glitch Capital Hort Innovation Icehouse Ventures Mixture of Experts NextGen Ventures Nuance Connected Capital NZ Growth Capital Partners Pacific Channel Partners Group Qantas Shearwater Capital Skip Capital Spectrum Equity Square Peg Capital TCV Tenacious Ventures Thyssenkrupp Uhde Tidal Ventures David Stribley Finnlay Morcombe Hannah Hardy-Jones Lucy Pink Nathan Scully Nicholas Sanderson Oliver Farnill Omar Salem Richard Beaumont Simon Carroll Stephen Ellis

Unnamed stage $5.5m

Proptech eGuarantee raises $5.5 million for its digital lease bond platform

Sydney-based eGuarantee has secured fresh capital to grow its lease bond offering, while backer Correlation has lifted its stake to a controlling majority after rapid growth in bond volumes.

SmartCompany 12 Feb 2026 eGuarantee Correlation Lance Warner Stephen Ellis

Also Startup Daily

Unnamed stage $20m

AirXpanders Raises A$20 Million in Private Placement

ASX-listed breast reconstruction device maker AirXpanders secured commitments for a 20 million dollar placement at 76 cents per CDI, and appointed Scott Murcray CFO/COO ahead of its planned US launch.

GBS Ventures 8 Jun 2016 AirXpanders Canaccord Genuity Australia Correlation GBS Ventures Heron Capital Venture Fund I WE Buchan Barry Cheskin Kyahn Williamson Scott Dodson Scott Murcray

Exit / M&A

AirXpanders' AeroForm® to Be Featured at ASPS Plastic Surgery Meeting 2015

AirXpanders' needle-free breast-reconstruction device is showcased at a major American plastic surgery conference, with trial results presented; the ASX-listed company awaits a US regulatory decision.

GBS Ventures 15 Oct 2015 AirXpanders American Society of Plastic Surgeons Columbia University Correlation GBS Ventures Heron Capital Venture Fund I MSLGROUP Vivo Ventures Western Technology Investments Dr Jeffrey Ascherman Scott Dodson

Also GBS Ventures·GBS Ventures

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