For current and aspiring angel investors, VCs, founder, corporates and ecosystem leaders navigating early-stage capital in Australia.

In today’s evolving startup landscape, early-stage investors are thinking beyond the first cheque - and looking ahead to what liquidity might realistically look like.

This fireside chat brings together three seasoned voices in Australian venture: Moderator Lauren Capelin (AWS), Ben Grabiner (General Partner, Side Stage Ventures) and Victoria Denholm (Managing Director, Wollemi Capital Group) for a candid conversation on how investors can balance conviction at the seed stage with a long-term view on portfolio liquidity and returns.

Together, they’ll explore questions including:
– What are smart ways to underwrite liquidity potential at pre-seed and seed?
– How are investor expectations shifting around exit pathways (M&A, secondary, IPO)?
– How can investors support founders to build optionality without adding pressure?
– When and how can secondaries play a role in providing early returns to angels or funds?

Panelists:

Victoria Denholm
Victoria Denholm is the CEO and Director of Wollemi Capital Group, where she leads investments in ventures that create long-term positive impact across technology, environment, property, and community sectors. With a career spanning both public and private sectors—including roles at KPMG High Growth Ventures, NSW Treasury, and Austrade in San Francisco—Victoria is a passionate advocate for innovation and leadership in Australia’s startup ecosystem. She is also known for empowering ambitious changemakers and is a graduate of Boston University and the University of New South Wales.

Ben Grabiner
Ben is a Founding Partner at Side Stage Ventures, a leading early stage venture fund in Australia. Ben was also the Co-Founder of Platoon, a platform for emerging creative talent that was founded in London and subsequently acquired by Apple. Prior to that, Ben was an investor at UK-based venture fund, LocalGlobe. When not helping founders create and scale transformative companies, Ben can usually be found chasing his three young kids around the park.

Moderator:

Lauren Capelin
Lauren Capelin is a community strategist and innovation specialist with expertise in generative AI, web3, fintech, and early-stage startups. As VC Business Development Manager for ANZ at AWS Startups, she connects with emerging founders to help scale impactful ventures. She is also one of the lead facilitators for the VC Catalyst program, supporting the next generation of venture investors. Previously, she held leadership roles at Startmate and Reinventure Fund, shaping Australia’s fintech ecosystem and championing gender equity in tech. A pioneer in the sharing economy, Lauren co-founded Collaborative Lab and contributed to the global rise of collaborative consumption. She’s also a certified coach and yoga teacher, blending strategic insight with a holistic approach to leadership.

Hosted by:

Wade Institute of Entrepreneurship
Wade Institute of Entrepreneurship is a leading centre for entrepreneurial training based at Ormond College, the University of Melbourne. Wade Institute delivers immersive education programs to accelerate learning, creation and connection.

VC Catalyst
VC Catalyst is an immersive executive education program for active investors to gain the best practice tools and skills to make successful early-stage high growth venture capital investments. Powered by LaunchVic, the program is delivered at Wade Institute of Entrepreneurship by world-leading venture capitalists and experts.

With thanks to:

LaunchVic
Since its creation in 2017, LaunchVic has been leading the development of a globally-connected startup ecosystem in Victoria, Australia

Contact the host of From Early Cheques to Exit Pathways