TLDR:
- Telstra is looking to sell out of its venture capital investments in Titanium Ventures.
- Titanium Ventures has a strong track record of investing in startups and achieving successful exits.
Telstra’s venture capital arm, Telstra Ventures, is seeking to divest from its investments in Titanium Ventures, a fund it helped establish that is now valued at $1.35 billion. Titanium Ventures, previously known as Telstra Ventures, was founded in 2011 and spun out of Telstra in 2018. The telecommunications giant, Telstra, is exploring options to sell its current stake in the fund as part of its focus on capital discipline and active portfolio management.
Titanium Ventures has a strong investment portfolio, having invested in 99 startups over 13 years, with notable successes including Auth0, BigCommerce, and CrowdStrike. The fund has had 42 liquidity events, with 12 IPOs and 17 companies reaching unicorn valuations. More than $1 billion has been returned to investors, and there is currently $1.35 billion in funds under management.
Telstra’s CFO, Michael Ackland, expressed pride in the role Telstra played in setting up Titanium Ventures and highlighted the fund’s independent strength and capabilities. The VC firm’s managing partner, Matthew Koertge, reiterated that Titanium Ventures remains committed to its investment thesis, focusing on AI, digital, and software startups. Telstra and Titanium Ventures plan to continue collaborating commercially to generate revenue for portfolio companies.
Overall, Telstra’s decision to potentially exit its venture capital investments signifies a strategic shift in its investment strategy, emphasizing the importance of capital discipline and active portfolio management.
