Venture capital fund · 3 deals
Every published round Smash 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.
| Company | Stage | Announced | Amount | Role | Alongside | Sources |
|---|---|---|---|---|---|---|
| Leonardo.Ai | undisclosed | 6 Dec 2023 | $47m | Lead | SmartCompany (21 Apr 2026), SmartCompany (7 Oct 2025), SmartCompany (11 Jun 2025), SmartCompany (18 Dec 2024), SmartCompany (30 Jul 2024), Forbes Australia (30 Jul 2024), SmartCompany (10 Apr 2024), SmartCompany (15 Dec 2023), SmartCompany (8 Dec 2023), SmartCompany (8 Dec 2023), Forbes Australia (7 Dec 2023), SmartCompany (7 Dec 2023), ARN (ARNnet), Forbes Australia (7 Dec 2023), inaitoday.com, mediaweek.com.au, TechCrunch Australia | |
| Leonardo.Ai | Accelerator | 2023 | $35.8m | Participant | Startup Daily, SmartCompany, Business News Australia | |
| Earnd | Series C | Apr 2022 | $81m | Lead | Startup Daily, Techboard |
Companies Smash 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 |
|---|---|---|---|---|
| Earnd | R&D tax credit consulting and processing services | Apr 2022, Series C | 1 | 1 |
| Leonardo.Ai | AI art production platform for consumers and enterprise users | 2023, Accelerator | 2 | 1 |
Fund closes reported for Smash Capital, as distinct from the investments it has made.
Companies Smash Capital has backed that another company then bought. An exit for the holding, not a deal Smash Capital did.
| Company | Bought by | Kind | Announced | Price |
|---|---|---|---|---|
| Earnd | Wagestream | Acquisition | 2021 | - |
| Leonardo.Ai | Canva | Acquisition | 30 Jul 2024 | $300m+ |
| Leonardo.Ai | Canva | Acquisition | Jul 2024 | $120m+ |
| Name | Role | Sources |
|---|---|---|
| Evan Richter | Co-founder and Managing Partner | Business News Australia, inaitoday.com, mediaweek.com.au |
Stories naming Smash 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
Sydney AI platform Leonardo.Ai has completed a Series A on top of its seed round, taking total backing past $47 million from Blackbird, Side Stage Ventures, Samsung Next, Smash Capital and TIRTA Ventures.
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
Humanforce has bought Wagestream's Australian arm, formerly Earnd, for an undisclosed sum. The article recalls Earnd's 2019 raise, its sale to Greensill, rescue by Wagestream, an A$81m Series C, and Humanforce's earlier acquisitions.
UK pay-access fintech Wagestream, formed from Sydney's Earnd, secured a A$236 million Series C — equity led by Smash Capital with Silicon Valley Bank debt — to expand beyond Britain, including across Australia.
Also Startup Daily