Tank Stream Ventures startup fund hits AU$20m mark

Tank Stream Ventures has announced the raising of AU$20 million, which it plans to invest in more startups looking to expand globally.

Tech-focused venture capital fund Tank Stream Ventures (TSV) is actively seeking for new Australian startups to invest in, after reaching the first close mark of AU$20 million.

The company has revealed that one cornerstone investor is from China, who is looking to enable Australian startups to expand globally, particularly into China.

TSV managing partner Rui Rodrigues said he is on the lookout for fintech and blockchain companies, as well as other tech startups, particularly those in the early stage of their business that have a strong ambition to go global.

TSV has also announced that it recently invested in crowdfunding platform Equitise. Rui said the decision to invest was due to the opportunity the company is going to offer to private companies.

"Equitise's biggest opportunity is the fact that they're democratising access to capital by opening to retail and wholesale investors the possibility of investing in private companies," he said.

"If you think about how the ASX allows retails investors to invest in publicly listed companies, Equitise is doing the same thing for private companies, and this is what got us excited in the first place. This is a company that lets everyone become an angel investor."

TSV has already invested in other startups, including goCatch, Spring.me, Pocketbook, and BugHerd.

TSV was founded by BRW rich-listed Markus Kahlbetzer, Airtasker's Tim Fung and Jonathan Lui, and former Renault F1 engineer Rui Rodrigues.