Blacknova

🎯 What They Do

Blacknova is a venture capital firm based in Sydney, Australia, dedicated to investing in and supporting the next generation of B2B technology startups.

• ●Founded in 2020 by seasoned entrepreneurs Matt Browne and Darcy Naunton, who successfully exited their WHS software company Donesafe in 2020, Blacknova operates with a distinctive 'founder-first' philosophy.
• ●They aim to empathise with the startup journey, providing hands-on support, extensive networks, and operational expertise to their portfolio companies.

📖 Their Story

The firm primarily targets Australian and New Zealand B2B technology companies at the pre-Seed, Seed, and Series A stages, with a strong focus on B2B SaaS solutions.

• ●Their investment thesis, often summarised as 'boring is better', prioritises founders solving persistent, overlooked business problems through essential, deeply embedded software solutions designed for long-term value, rather than fleeting trends.
• ●Blacknova is also committed to ethical impact investing, allocating 25% of its fund towards companies aligned with the United Nations Sustainable Development Goals (UNSDG).

⚡ What Sets Them Apart

Blacknova differentiates itself through its comprehensive Venture Partner Program, which matches portfolio companies with experienced operators for 1:1 coaching across critical areas such as fundraising, go-to-market strategy, hiring, and leadership.

• ●This hands-on, supportive approach, combined with the partners' own experience as founders, positions Blacknova as more than just a capital provider; they strive to become an extension of their portfolio companies' teams.
• ●The firm commenced with an initial fund that closed at $22 million and has since launched a second fund targeting $35 million, bringing their total commitment to early-stage startups to $57 million.
• ●Notable achievements include investments in over 30 startups, with a demonstrated ability to nurture companies through various growth stages and even to exit.

🏆 Track Record

The leadership team includes Managing Partner Matt Browne and General Partner Darcy Naunton, alongside a diverse group of Venture Partners and operating partners with deep domain expertise in areas such as product, sales, and technology. They are headquartered in Sydney, Australia, and maintain a rigorous yet efficient investment process, aiming for a decision within 6-8 weeks from the initial meeting, while strongly prioritising cultural fit.