These 3 Australian Single Family Offices Invest in Venture Capital

list of largest single family offices australia venture capital

A wealthy country, Australia has a market economy, a high GDP per capita, and a relatively low rate of poverty. In terms of average wealth, Australia ranked second in the world after Switzerland from 2013 until 2018. In 2018, Australia overtook Switzerland and became the country with the highest average wealth. Its economy is so strong that it was the only advanced market economy that didn’t experience a recession due to the global financial downturn in 2008. Furthermore, Australia has among the highest house prices and some of the highest household debt levels in the world. All these facts contribute to the increasing formation of single family offices, the private investment companies of the world’s richest individuals, in Australia. In our recently released database of the largest single family offices in Australia we identified the major key family offices of the country. In this article we want to present you three of them, that set their particular focus on venture capital investments.

The mentioned family offices are all part of our list of the largest single family offices in Australia

  • 49 entries, thereof 35 with E-Mail address, 48 with executive names
  • Investment focus: Real Estate, Venture Capital, Private Equity, Financial Products, Renewables
  • 23 columns included: Name, Family Name, Estimated Family Wealth, Detailed Investment Focus and exemplary investments, address, phone, e-mail, website…
  • Free updates within one year included, secure payment through PayPal or Credit Card, 24/7 support through live chat and mail
  • Last update: 23rd November 2020

#1: Grok Ventures, Sydney

Grok Ventures acts as the single family office of Mike Cannon-Brookes, an Australian billionaire. He became successful with his company Atlassian that he co-founded together with Scott Farquhar in 2002. The pair met while studying at the University of New South Wales in Sydney. They bootstrapped the company for several years, financing the startup with a $10,000 credit card debt. They both carry the badge of “accidental billionaire” because they founded the company with the simple goal to replicate the then-typical graduate starting salary of A$48,000 at the big corporations without having to work for someone else. Somehow it worked out in the end with the company evolving to a successful software firm that develops products for software developers and project managers. Today, the firm has over 3,000 employees serving more than 130,000 customers and millions of users with nine offices in six countries. Mike Cannon-Brookes net worth is currently estimated at $14,3 billion. His single family office, Grok Ventures, focuses on venture capital investments in fast growing technology companies active in the fields of technology, software, healthcare, industrial and energy. Notable holdings include, for example, Brighte, a credit technology platform offering “Australia’s easiest way” to pay for home energy and home improvements.

#2: Tattarang Pty Ltd, Nedlands

Tattarang serves as the private investment vehicle of Andrew Forrest. The Australian business man is best known as the former CEO of Fortescue Metals Group, but is also active in the mining industry outside the company. Additionally, he operates and owns different cattle stations all over Australia. His career began at the brokerage houses Kirke Securities and Jacksons where he worked as a stockbroker after graduating. In his early 30s, he became the founding CEO of Anaconda Nickel (now Minara Resources), which has since grown to be one of Australia’s single largest mineral exporters. In 2003, he took control of Allied Mining and Processing and renamed it Fortescue Metals Group. As mentioned before, Andrew Forrest’s business activities are not limited to the mining industry. Until today he has acquired more than 10,000 square kilometers and a meat processing company (Harvey Beef). Thanks to the overall success of his activities, his net worth today is estimated to be somewhere around $7.5 billion. The Andrew Forrest single family office, Tattarang, actively seeks for private equity and venture capital investments in the fintech, technology, communication and healthcare sectors. The venture capital portfolio includes, for example, Azupay. The fintech provides a digital payment method app that instantly transfers the money from customers to the recipients without any delays or debt processes.

#3: Salta Capital, Melbourne

Salta Capital operates all the wealth related activities of Salvatore Tarascio, an Italian-born Australian billionaire businessman. Tarascio owns a portfolio of commercial and industrial real estate across Melbourne, including a business park, two distribution sites, a large shopping mall and a market. In 1972 Tarascio founded Salta Properties, a privately owned company, after buying swampland and constructing a warehouse for Hoechst. Prior to entering the property market, Tarascio worked in pharmaceutical sales. Moreover, Salvatore has interests in growing olives and extra virgin olive oil production, with a property located on the Mornington Peninsula, stepping in the footsteps of his grandfather who commenced the family tradition of olive pressing. Salta Capital, as part of the Salta Properties company, is responsible for Salvatore’s venture capital investments. Preferred sectors include property development, technology, construction, hotels and real estate. An excerpt of the portfolio is, for example, Investorist. The company provides a business to business sales platform for off-the-plan property purchases. They streamline relationships through technology.

Picture source: Brisbane Local Marketing

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