Goanna Seeks $1.3 Billion for Bets on Highly Coveted Startups

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Goanna Seeks $1.3 Billion for Bets on Highly Coveted Startups

deals & business :: 2025-01-14 :: source - bloomberg

By Gillian Tan

(Yahoo finance)

(Bloomberg) -- Goanna Capital has begun discussing raising a combined $1.3 billion for a new fund and a co-investment platform through which investors can back sought-after companies including SpaceX, Figma, Anthropic and CoreWeave, according to a person with knowledge of the matter.

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West Palm Beach, Florida-based Goanna, led by founder Robert Hilmer, aims to deploy the capital over three years, said the person, who asked not to be identified discussing confidential talks. Before founding Goanna in 2020, Hilmer held roles at Coatue Management; Equidate, now known as Forge Global; and Goldman Sachs Group Inc., his LinkedIn profile shows.

In addition to discussions with institutional investors including family offices, Goanna has held talks with certain Wall Street banks about raising capital through their private-wealth platforms, though no final decisions have been made, the person said. The firm is targeting $300 million for the fund and $1 billion for the co-investment platform, on which Goanna is likely to waive management fees for large investors, and to offer discounted performance fees, or carry, the person said.

A Goanna representative declined to comment.

The firm plans to structure each deal on the Goanna Global Tech Leaders Investment Platform as a standalone special purpose vehicle, and participants will have discretion over each transaction. The firm plans to get exposure to in-demand startups through primary funding rounds or secondaries, which may involve tender offers or so-called strip sales, the person said.

Goanna Capital manages around $500 million in assets through existing funds and co-investment vehicles, the person familiar with the matter said. It has backed companies including CoreWeave, SpaceX, Anthropic, Figma, Airtable and Rippling, and has exited positions in Toast, Robinhood, Marqeta and Instacart, its website shows.

In addition to existing portfolio companies, the firm aims to invest in other high-profile startups including xAI and Neuralink, the person said.

“The ability to gain access to the highest-quality private-market opportunities on a deal-by-deal basis” is a compelling and unique proposition, said a representative for WA Capital, outlining plans to back the new co-investment platform. The family office, established by Will Adderley, Dunelm Group Plc’s deputy chairman, has already been provided exposure to some leading closely held technology companies by Goanna. “We are pleased to support an innovative and forward-thinking approach to private markets.”