Carta continues with global expansion in Australia to support the country’s local startup and investor ecosystem
- Written by The Bulletin
The US-based private capital software platform sets up base in Sydney as part of Investment NSW’s efforts to grow New South Wales into a thriving global hub for business.
SYDNEY, AUSTRALIA / SINGAPORE - Media OutReach Newswire - 14 November 2024 - Carta today announced its expansion into the Australian market, marking a significant milestone in the company's roadmap to connect more startups and investors with its comprehensive private market ecosystem.As startup companies scale and mature, their equity structures often become increasingly complex. In Australia, this complexity is amplified by factors such as ASX (Australian Securities Exchange) listing requirements, the intricacies of employee share schemes, and the corporate actions involved in growth, like mergers and acquisitions.
Australia, which is ranked 11th on the Global Startup Ecosystem Index, boasts a robust economy and a growing demand for sophisticated solutions for the private market. To meet this need, Carta has chosen to expand its presence in the country. The expansion is supported by Investment NSW, a government agency dedicated to promoting economic growth and attracting investment to New South Wales.
Building on past successful projects with Australia-based firms such as Employment Hero and Titanium Ventures (formerly known as Telstra Ventures), Carta aims to collaborate with the government to deliver exceptional investment value to the local ecosystem. This aligns with the company's commitment to Investment NSW's goal of fostering local economic development. Carta's prior investments in Australia included strategic partnerships for events and the establishment of a remote team.
Bhavik Vashi, Managing Director of Carta, will lead the company's new initiatives in Sydney, bringing a wealth of industry experience from his background in B2B SaaS platforms serving the office of the CFO. His extensive experience and strong industry relationships will be instrumental in supporting Australian startups and funds as they navigate the complexities of the private market. His proven track record of scaling Carta's operations in other markets, such as Singapore and the Middle East, positions him well to drive significant growth in Australia.
"With its vibrant ecosystem, Australia is ripe for the next phase of growth in the private markets," said Vashi. "Our official expansion here aligns perfectly with Carta's vision to streamline how private markets operate. By introducing our solutions, we aim to empower local startups and investors to manage ownership more efficiently and scale operations effectively."
Sam Wheatley, Executive Director for Fostering Innovation at Investment NSW, also expressed excitement about Carta's Australian expansion. "Australia is a strategic market for global growth, and we are delighted to have Carta onboard to help us drive growth and innovation in the local startup ecosystem," said Wheatley.
Carta is set to launch its new office in Sydney on Monday, 18 November 2024. This will serve as a hub for sales, marketing, and future activities such as the expansion of the company's partnerships with local universities, UNSW Founders & INCUBATE from The University of Sydney, as well as Techstars Tech Central Sydney Accelerator powered by the NSW Government, to extend its free equity management program, Launch.Hashtag: #carta
The issuer is solely responsible for the content of this announcement.
About Carta
Carta is a platform that helps people manage equity, build businesses, and invest in the companies of tomorrow. Our mission is to create more owners. We do this by unlocking the power of equity ownership for more people in more places.
Carta is trusted by more than 40,000 companies in more than 160 countries to manage cap tables, compensation, and valuations. Carta also supports more than 7,000 funds and SPVs, which together represent over $130B in assets under administration. Carta's liquidity solutions have returned $15B to shareholders in secondary transactions. Today, Carta's platform manages nearly three trillion dollars in equity for more than two million total stakeholders.
Companies and funds like Flexport, Tribe, and Harlem Capital build their businesses on Carta. The company has been included on the Forbes World's Best Cloud Companies, Fast Company's Most Innovative list, and Inc.'s Fastest-Growing Private Companies. For more information, visit carta.com.
