happenco ventures

Happenco is a Sydney-based modern merchant bank and venture investment firm founded by Ben Cheyne (formerly of Deloitte Ventures), Gideon Gut-Silverman (formerly of Google), and Omar Varts (formerly of Deus Ex Machina). The firm closed its first fund, the Happenco Ventures Fund, at $12 million AUD, focused on empowering the earliest-stage Australian startups. Happenco invests at the minimum viable product stage, supporting portfolio companies to build past initial product-market fit and on to a Series A round, and leads rounds. The fund targets B2B SaaS applications operating in healthcare, construction, critical infrastructure, education, and financial services. The fund has deployed 60% of its capital across 16 companies out of a total portfolio of 27 companies. Notable portfolio companies include Neara (electric utility software), The Spec Sheet (online ad spec management), EdTripper (school excursion platform), Tanna.ai, Musichealth, Prooftec, Earnr, Equip, Neeon, and Ferovinum (wine as an alternative asset class). LPs include former McKinsey Australia and New Zealand managing partner Michael Rennie, Helix Collective founding partner Jeeva Suresh, and the O'Reilly, To, and David family offices. Happenco takes active positions in its portfolio companies and provides strategic counsel through its advisory arm, working closely with founders in various operational capacities beyond providing capital. The firm's founding team brings complementary backgrounds in professional services, technology, and consumer businesses, and the merchant bank structure allows it to support founders across a broader set of financial and strategic challenges than a traditional early-stage fund typically addresses.