Scaleup has announced the launch of its fourth media-for-equity fund, backed by a $25 million capacity to support high-growth Australian businesses.
Partners participating in the fund include News Corp Australia, Foxtel, NOVA Entertainment, oOh!media and REA Group.
The launch follows the successful deployment of the third fund, valued at $15 million and now fully invested. Scaleup operates as a media-for-equity fund, with Australia’s leading publishers and broadcasters providing premium advertising inventory in exchange for equity stakes.
Operating since 2017, Scaleup seeks to support early- to growth-stage companies that need brand exposure but are not yet established users of mass media channels. The fund has built a portfolio of more than 20 consumer-facing companies, five of which have reached acquisition or IPO.
The portfolio spans diverse sectors including consumer goods, health, fintech, proptech and services, with brands such as Hawke’s Brewing, Finder, Naked Life, Bare Funerals and NobleOak, among others.
The impact of this investment model is demonstrated by the growth of Hawke’s Brewing. Hawke’s, a contemporary Australian beer company with a wholesale brewing operation and a brewery venue in Sydney’s inner west, partnered with Scaleup in 2023. Scaleup acquired an equity stake in Hawke’s in exchange for advertising inventory, enabling the business to launch its first sustained brand campaigns across television, outdoor, radio, and digital platforms – delivering tens of millions of impressions and transforming its visibility in the competitive Australian beer market.
The results have been striking. Hawke’s volumes have nearly doubled year-on-year, significantly outperforming the broader beer market, and the company’s brewery venue delivered record trading over the 2025 festive period.
“The launch of our $25 million fourth fund is a strong vote of confidence in the media-for-equity model,” Scaleup investment principal, Michael Lamont, said. “Since inception, we have demonstrated that giving early-stage companies access to premium advertising inventory is a powerful catalyst for sustainable growth.
“Many emerging consumer brands hit a wall. They need mass market awareness to grow, but cannot afford the upfront cash required for major media campaigns. Scaleup bridges that gap.
“We back founders with premium advertising space, enabling them to reach millions of Australians and scale without draining cash reserves.”
Lamont continues, “With Scaleup Fund 4 now active, we are looking for the next generation of ambitious Australian startups. We want to hear from founders with a strong consumer offering, demonstrated product-market fit, and readiness to scale.
“With the combined reach of News Corp Australia, Foxtel, NOVA Entertainment, oOh!media, and REA Group, we have the media firepower to help make brands household names.”
