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Square Peg In $200m Round Hole

Paul Bassat’s venture capital outfit Square Peg Capital is said to be looking to raise more than $200 million as it seeks to add more investments to its portfolio interests in graphic design group Canva and online lender Prospa. Melbourne-based Square Peg, which was backed in its early days by billionaire James Packer, invests across Australia, Israel and South-East Asia.

It describes itself as “a group of individuals united by a passion for technology and its potential to change our world.” And, perhaps, a chance to make money …

Recent investments have included pumping $22 million into Airwallex, an outfit that describes itself as “a financial technology company that offers integrated solutions to businesses for cross-border transactions”.

Its lead investors include the likes of Tencent Holdings, Sequoia Capital and Mastercard.

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