Investor · 1 deal

Deepwater

Disclosed deals

Every published round Deepwater 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
HEO	Series B	21 Sep 2026	$37m	Participant	Beaten Zone Venture Partners NRF Corporation Ten13 DCode Capital Paspalis Dr Vu Tran National Reconstruction Fund (NRF)AirTree Ventures Salus Ventures National Reconstruction Fund Corporation UNSW Dumm Capital Wunala Capital Angel Investors	Dynamic Business, This Week in Australian Startups, Space Connect, Forbes Australia (21 Sep 2026), Forbes Australia (21 Sep 2026), Beaten Zone Venture Partners portfolio

Portfolio

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

Company	What it does	First invested	Rounds	Led
HEO		21 Sep 2026, Series B	1	0

Funds

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

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

Portfolio companies acquired

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

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

Coverage

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

15 deals

🇦🇺 This Week in Australian Startups #179, 26th September 2026

Weekly roundup recording a dozen raises and acquisitions, Firmus's scheduled float, a new $50m venture fund, a founder share sale, grant winners, an accelerator intake, and an AI agent's government breach.

This Week in Australian Startups 26 Sep 2026 Amber Electric Auric CodeBreakers Fever Heidi Health HEO Hubblenetwork Kinoxis Therapeutics Medcast OpenDebt Remagine Labs RentBetter Significant Capital Ventures TasTest Zeligate Advanced Navigation Afterpay Airtasker AirTrunk Airwallex Anthropic AUSTRAC Australian Government Australian Signals Directorate Catch CDC Centre Droneshield Elixinol Wellness Ellerston Capital Employment Hero Firmus Technologies Genetic Signatures Innovaero Investment NSW Kongsberg Luxury Escapes Medicare Microba Morgan Stanley National Transport Solutions Nearmap News Corp NSW Government Ofload OpenAI ParaScript Ramp South Australian Government Spark Stakk Limited Telix Pharmaceuticals Telstra The U Group Thoma Bravo University of Canberra University of Newcastle Victoria Vitable 1GT AirTree Ventures Angel Investors Antler Australia Athletic Ventures Avicella Capital Baillie Gifford Beaten Zone Venture Partners Best Practice Blackbird Ventures Carthona Capital CSIRO DCode Capital Deepwater Dumm Capital E.ON EQT ETF Partners EVP General Catalyst Headline Innovation Victoria Main Sequence Ventures Medical Research Future Fund Monash University NRF Corporation Paspalis Phoenix Court Point72 Salus Ventures Scalare Partners Stoic Venture Capital Ten13 Uniseed UniSuper University of Sydney UNSW Greg Boorer Pat Cummins Sam Kerr Albanese Anoulack Chanthivong Gabby Leibovich Hezi Leibovich Jack Zhang Jonathan Lui

Also Dynamic Business·DealStreetAsia·This Week in Australian Startups·Dealroom·ABC News Technology

Series B $37m

NRF backs space startup HEO after US$100 million-plus contract

Satellite-monitoring camera maker HEO has landed a $37 million Series B, with the federal reconstruction fund contributing $10 million, and will grow its team while pushing more cameras into geostationary orbit.

Forbes Australia 21 Sep 2026 HEO Gilmour Space Go1 Hypersonix Launch Systems Southern Launch AirTree Ventures Beaten Zone Venture Partners DCode Capital Deepwater NRF Corporation Paspalis Salus Ventures Ten13 Dr Vu Tran David Gall Dr William Crowe

Also Forbes Australia·Space Connect·This Week in Australian Startups·Dynamic Business

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