Australian venture capital firm AirTree Ventures Pty. Ltd. closed its third fund at A$275 million.
The fund will be split into a core fund and an opportunity fund to support technology companies at their seed stage or at their bigger funding rounds, AirTree co-founder Craig Blair said in a blog post.
The vehicle was backed by six institutional investors including superannuation schemes AustralianSuper Pty. Ltd., Sunsuper Pty. Ltd. and Statewide.
The venture capital firm's second fund raised A$250 million in 2016, and its first closed on A$60 million in 2014.
Blair also announced a round of promotions and a new hire at the firm. Elicia McDonald was promoted to principal and will lead investments, while Emily Close was promoted to associate in the investment team. Melissa Ran joined the firm to head up community and advocacy efforts.