Next Capital is an Australian private equity firm that specializes in later-stage expansion and small to mid-market buy-outs in Australia and New Zealand, typically targeting businesses with an enterprise value between A$50 million and A$200 million. Their strategy involves a people-centric approach, partnering with management teams to drive growth, operational improvements, and strategic transformations for long-term value creation.
45% of their portfolio is in Healthcare. Average disclosed round size is $46.0M (across 10 rounds with reported amounts).
Portfolio
11
Fund Size
$1.1B
Top Stage
Series A
Last 12 Mo
0
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
11 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Eternal | Seed | $13M | Jan 2025 |
 Pair Team | Series A | $9M | Oct 2023 |
 Juno Medical | Series A | $12M | Dec 2022 |
 Clarifai | Series C | $60M | Oct 2021 |
 Terra | Seed | $2.8M | Jun 2021 |
 CircleCI | Series F | $100M | May 2021 |
 Oura | Series C | $100M | May 2021 |
| PPocket Outdoor Media | Series B | $150M | Feb 2021 |
| PPowerDot | Unknown | — | Jan 2019 |
 Cofertility | Series A | $7.3M | — |
 SteadyMD | Series A | $6M | — |
Top Co-Investors
Gaingels3 shared
Jazz Venture Partners2 shared
Courtside Ventures1 shared
Lightspeed Venture Partners1 shared
Founders Fund1 shared
Bling Capital1 shared
Offline Ventures1 shared
Initialized Capital1 shared
General Catalyst1 shared
Samsung Next1 shared
NEA (New Enterprise Associates)1 shared
Menlo Ventures1 shared
Union Square Ventures1 shared
Lux Capital1 shared
CPP Investments1 shared
LDV Capital1 shared
Corazon Capital1 shared
NYU Innovation Venture Fund1 shared
SineWave Ventures1 shared
Trousdale Ventures1 shared
Last updated: 8 March 2026