Ledger. Australian venture funding, tracked

Company

Hoyts

Coverage

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

Unnamed stage $2.4m

Now Vinyl is taking Time Out

Josh Simons-led Vinyl Group raised $2.4 million and is adding Time Out Australia and Pedestrian Group to its media portfolio for little outlay, alongside earlier buys of Concrete Playground and Val Morgan Digital.

Also This Week in Australian Startups

4 deals

Nine walks away from its $49 million digital media investment, Pedestrian, handing it to Richard White’s Vinyl

Vinyl Group is buying Nine's youth publisher Pedestrian Group for nominal consideration, ending Nine's costly ownership. The piece also recalls Nine's stake purchases, Linkby's Series B, and Vinyl's acquisitions and shutdowns.

Also Startup Daily·This Week in Australian Startups·Capital Brief

Venture debt ≤$10m

Richard White-backed Vinyl buys rival BuzzFeed and PopSugar publisher Val Morgan Digital from Hoyts

Vinyl Group is buying Val Morgan Digital, publisher of BuzzFeed and PopSugar, from Hoyts for $10.5 million, with funding via a shareholder facility and Hoyts CEO Damian Keogh joining the Vinyl board.

Also Startup Daily·Startup Daily·Mumbrella

Fund close $450m

Cochlear chair Alison Deans joins CSIRO VC Main Sequence as venture partner

Main Sequence, CSIRO's deep tech venture fund, adds Cochlear chair Alison Deans as a venture partner, extending her investment committee service since 2017; its third fund brought in $450 million in July.

Exit / M&A

TEG, the entertainment giant behind Ticketek, takes a majority stake in sports star marketplace FAN+

Ticketing and live entertainment company TEG has bought a majority stake in FAN+, a Sydney marketplace for athlete and club experiences, which will integrate with Ticketek. The startup earlier passed through two accelerators and counts Artesian among its backers.

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