Sydney tech VC Lakeba launches in the US to take Australian startups global

Sydney technology and venture capital firm Lakeba is setting up shop in the US as part of its ongoing global expansion plans.

The eight-year-old tech investor is opening an office in Austin, Texas. The push into the States is being led by two tech startups Lakeba has already backed: document verification platform Ezidox and in-app security offering Quixxi.

Ezidox CEO Adrian Vallino, senior VP Thomas Bender and chief revenue officer Ed Golod will spearhead the US outpost. Lakeba already has offices in Manly, on Sydney’s northern beaches, as well as India, Italy, and the UK.

For Vallino, it’s a chance to return the favour after Lakeba helped his startup succeed back home

“Having made significant inroads to the Australian market since our launch and following through on our strategic roadmap to diversify across multiple industry verticals, building solutions to solve problems head on, we always had the vision and scale to drive growth through expansion, with the US being our next natural market,” he said.

“This launch is a vindication of our business model, and I look forward to unlocking ezidox’s value-led proposition in more countries as we progress.”

Lakeba has invested in 15 businesses and had three exits since launching in 2013. The portfolio includes fractional property investment platform Bricklet, which raised $3 million in a series A earlier this year and coffee break shout app Appreci.

The business has a team of 160 specialists in capital funding, coding, financial management, marketing, operations, public relations, risk management and technology.

Lakeba founder and CEO Giuseppe Porcelli said the company is looking to the US after its biggest year ever.

“The last few years have seen us witness unique changes in financial services, retail, real estate, mobility amongst others. This has created exciting opportunities for Lakeba‘s market disrupting product base on a global scale, particularly in a North American market primed for an innovation-led recover,” he said.

“This launch represents a unique opportunity to be an integral part of the further growth opportunity, as together we create Australia’s next global tech success story,”

Lakeba has also appointed industry veteran Greg West to its board. West led Australian biotech venture Benitec Biopharma during its US expansion and dual ASX and NASDAQ listing in 2018. He’s been tasked with helping Porcelli and his executive team build its US ambitions.

“Alongside my experience with Benitec Biopharma I have worked with a number of ambitious and market-defining tech companies, raising over $70 million to assist international expansion and the potential and governance I see from Giuseppe and the team is second to none,” he said.

Giuseppe Porcelli said Lakeba’s growth in the US will also by fueled by the company’s Microsoft Gold Partnership, with the enterprise tech giant providing sales and product support across a range of blue-chip clients in the region.