In today’s episode, we’re joined by John and Jax, partners at AirTree, to talk about their massive new $650 million fund — a milestone backed by some of the world’s top institutional investors. They break down why global capital is finally paying attention to Australia, how this changes the game for local founders, and what traits they now look for in world-class startups. From the rise of AI-native companies to the evolving VC landscape, this is a must-listen for anyone building in tech.

Check out their socials:

Jonh Henderson:

https://www.airtree.vc/team/john-henderson

https://www.linkedin.com/in/johnhenderson/

Jackie Vullinghs:

https://www.airtree.vc/team/jackie-vullinghs

https://www.linkedin.com/in/jvullinghs/

We dive into:

• Why AirTree raised a $650M fund — and what it unlocks for founders
• How global LPs are finally backing Australian venture capital
• The rise of AI-native startups and why they matter now
• What AirTree looks for in early-stage founders today
• The shift toward faster, conviction-led investing
• Why “speed and intensity” beat “balance” in the startup game
• How growth-stage VC is evolving in Australia
• Why AirTree is investing in companies they once missed
• The internal culture driving AirTree’s success
• Predictions for the future of VC and AI-driven business models

00:00 Exciting Announcement: New $650 Million Fund

00:17 The Importance of International Investors

00:52 Meet the Partners: John and Jax

01:13 The Emotional Rollercoaster of Venture Capital

01:23 The Fast-Paced World of VC: Diligence and Conviction

01:49 A Special Message to Our Viewers

02:31 Deep Dive: The New Fund and Its Impact

05:21 Why Australia? Convincing Global Investors

06:28 The Growth of the Australian Tech Ecosystem

09:28 Vanta Ad

12:40 Fund Structure: Seed, Growth, and Co-Investment

18:48 The Role of Growth Funds in the VC Landscape

20:44 Global Trends in Venture Capital

29:47 The Emotional Journey of Building a VC Firm

31:21 Core Ingredients for Venture Scale Business

32:11 Navigating the Nebulous World of AI

33:10 Backing AI Native Entrepreneurs

34:30 Valuation Challenges in the AI Era

35:53 Importance of Founders in AI Startups

43:22 Australian Founders on the Global Stage

46:19 Air Tree's Growth Fund Strategy

49:00 Building a World-Class Team at Air Tree

50:49 Future Vision for Air Tree

55:21 Adapting Investment Strategies

58:36 Continuous Learning and Healthy Debate

01:01:07 Conclusion and Future Outlook