Venture capital fund · 1 deal
Every published round Gaorong Capital 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.
Companies Gaorong Capital has backed in a published round, and companies whose existing shares it bought off another holder.
| Company | What it does | First invested | Rounds | Led |
|---|---|---|---|---|
| Leonardo.Ai | AI art production platform for consumers and enterprise users | 6 Dec 2023, undisclosed | 1 | 1 |
Fund closes reported for Gaorong Capital, as distinct from the investments it has made.
Companies Gaorong Capital has backed that another company then bought. An exit for the holding, not a deal Gaorong Capital did.
| Company | Bought by | Kind | Announced | Price |
|---|---|---|---|---|
| Leonardo.Ai | Canva | Acquisition | 30 Jul 2024 | $300m+ |
| Leonardo.Ai | Canva | Acquisition | Jul 2024 | $120m+ |
Stories naming Gaorong Capital. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
Startup Daily reports Leonardo Ai's text-to-image tool was misused to create nonconsensual celebrity images, and recalls the Sydney company's $47 million raise backed by Blackbird, Side Stage Ventures and other investors.
Roundup of eight local raises totalling roughly $81.5 million: generative AI, sustainable packaging, VR medical training, optical radar, drinks, preventive health and wholesale retail software.
Also Ten13·Startup Daily·Startup Daily·SmartCompany·SmartCompany·Startup Daily·Startup Daily·Startup Daily·Forbes Australia
Leonardo.Ai, a Sydney-based AI art platform, has raised $31 million US from Blackbird, Samsung Next and other backers, money it will put toward its enterprise push and hiring.
Also mediaweek.com.au·inaitoday.com·Forbes Australia·ARN (ARNnet)·Forbes Australia·SmartCompany·SmartCompany·SmartCompany·SmartCompany·SmartCompany·SmartCompany·SmartCompany·SmartCompany·SmartCompany·SmartCompany·Forbes Australia