Side Stage Ventures Research
Investment Thesis
Side Stage Ventures is a founder-led, early-stage venture fund based in Melbourne, Australia, built around backing what the firm calls "outlier founders" — entrepreneurs with proven hustle, global ambition, and the drive to build billion-dollar companies. Co-founded by Ben Grabiner and Markus Kahlbetzer in 2022, the firm's stated mission is to be "the seed fund we wish we had when we were starting out," prioritizing founder support and network access over sheer capital size. The firm describes its edge as a high "Helpfulness to Cheque Size ratio," meaning the depth of hands-on support relative to check size is the differentiator, not fund size alone.
Ben Grabiner's own background as co-founder of Platoon (a creative-talent platform that helped launch artists like Billie Eilish and Jorja Smith, acquired by Apple in 2018) and prior investing experience at UK fund LocalGlobe informs the firm's founder-first orientation. Markus Kahlbetzer previously founded proptech company BrickX and investment firm BridgeLane, and was an early backer of Airtasker and Amaysim.
Stage Focus
Pre-seed and seed. The firm is explicit that "it's never too early" and is comfortable backing pre-revenue companies with only a strong founder and vision in place.
Check Size
Fund I wrote initial checks around $500,000. The website states checks up to $1.5M, reflecting increased flexibility under Fund II ($50M, first close $40M, announced April 2026) versus Fund I's $15M (announced August 2023).
Lead Tendency
Unknown/mixed — public reporting does not clearly establish whether Side Stage typically leads or follows seed rounds; the firm positions itself as a high-conviction, hands-on early check rather than emphasizing lead status.
Recent Activity
- August 2023: Announced $15M Fund I with initial checks of $500K, backed by LPs including Go1 co-founder Andrew Barnes, Airtasker co-founder Tim Fung, and UK fund LocalGlobe.
- 2024: Leonardo AI (an early Fund I investment) was acquired by Canva — Side Stage's first exit.
- 2025: MagicBrief was acquired by Canva — Side Stage's second exit, reportedly placing the fund in the top decile globally for early performance.
- April 30, 2026: Announced Fund II at $50M (first close $40M), backed by founders from Leonardo AI, Airtasker, Canva, and Linktree — with roughly 90% of Fund I LPs returning. Elli Hanson was promoted from Principal to Partner and began making Fund II investments.
- April 17, 2026: Investment in Atomic Tessellator (per third-party tracking).
Fund status: actively deploying from Fund II as of mid-2026.
Portfolio Highlights
Side Stage's portfolio spans 20+ active companies and 2 notable exits:
Exits:
- Leonardo AI (leonardo.ai) — generative AI, acquired by Canva (2024)
- MagicBrief (magicbrief.com) — creative/marketing tooling, acquired by Canva (2025)
Active (selection):
- Arca (arcaclimate.com) — climate
- TrueState (truestate.io) — property/proptech data
- Basis (wearebasis.com)
- Anna (hianna.ai) — AI
- One Click Switch (oneclickswitch.com.au) — consumer utility switching
- MoreGoodDays (moregooddays.com) — health/wellbeing
- Thanks (thanks.co)
- Puralink (puralink.com.au)
- Elita Genetics (elita.pet) — pet health/biotech
- Fabra (fabra.com)
- Atomic Tessellator (atomictessellator.com) — AI/scientific computing (materials/chemistry)
- Klaro (klaroapp.com)
- Dreamsake (dreamsake.co)
- Superdesign (app.superdesign.dev) — AI design tooling
- Kantoko (kantoko.com.au)
- Userflux (userflux.co) — analytics/dev tools
- Fastlane (usefastlane.ai) — AI
- Lightning Forge Games (lightningforge.games) — gaming
- Harth (harth.app)
- Dragonfly (dragonfly.com.au)
The portfolio skews toward Australian founders across AI/software, consumer, climate, health, and gaming — consistent with a sector-agnostic, founder-quality-first mandate.
Team
- Ben Grabiner — Co-founder & General Partner. Previously co-founded Platoon (creative talent platform, acquired by Apple in 2018); prior investor at LocalGlobe (UK).
- Markus Kahlbetzer — Co-founder & General Partner. 18+ years investing experience; founded BrickX (proptech) and BridgeLane; early backer of Go1, Airtasker, and Amaysim.
- Elli Hanson — Partner (promoted from Principal in 2026). Former founder in New York; former Global Director of Design Strategy at Ogilvy; co-founder of Flaus.
- Harrison Wright — Principal Investor.
- Alice Williams — Head of Operations; previously Portfolio Manager at Crowdcube.
- Anthony Zaccaria — Operating Partner; Linktree co-founder.
- Alex Zaccaria — Venture Partner; Linktree co-founder.
- Jaddan Comerford — Venture Partner; founder of Unified Music.
Additional venture partner network includes Tractor Ventures co-CEO Matt Allen (per third-party reporting).
Decision Process
Partnership-style — led by co-founders Grabiner and Kahlbetzer with Partner Elli Hanson now also sourcing and closing deals independently since her 2026 promotion. The firm emphasizes a collaborative, founder-community-driven approach (e.g., an internal "SSV Founder Wiki" for portfolio companies) rather than a large investment committee.
Founder Preferences
The firm explicitly favors "outlier founders": individuals with demonstrated hustle, a track record of execution, and global (not just local) ambition, building differentiated products in large markets. Stated criteria are (1) outlier founders, (2) differentiated product with passionate early customers, and (3) big markets with billions in addressable revenue potential.
Geographic Focus
Primarily Australia — the firm is explicitly framed as backing "Australia's greatest and most ambitious minds" — with a global outlook informed by the founders' international networks (LocalGlobe/UK ties, Apple/US ties via Platoon).
Values / Ethos
The firm publishes an explicit ethos: Founders First, The Right Thing, Safe Spaces, Force for Good, Long-term games, Bias to Action, and "Crazy ideas change the world."