Australia-based Pepper Group Leads Round Ahead of Planned Expansion
Washington, D.C. – Global Innovation Network 1776 today announced raising $7.2 million in strategic investment led by Pepper Group, a global financial services company, and a lineup of globally focused investors, including Revolution founder Steve Case.
“The digital age is here and the world’s largest, most critical industries are squarely in the sights of entrepreneurs,” said Donna Harris, 1776 Cofounder and Co-CEO. “We’re pleased to be scaling our global networks, enabling more innovators to succeed, and accelerating the pace of global change.”
Pepper Group is a diversified and experienced global financial services business quoted on the Australian Stock Exchange with additional offices in the United Kingdom, Ireland, Spain and South Korea.
Among the other investors in this round are:
Steve & Jean Case are dedicated to accelerating high-growth entrepreneurship throughout the United States and around the world, and leveraging new technologies and innovative approaches to address significant global challenges through Revolution and the Case Foundation, as Steve details in his new book, The Third Wave.
Kiddar Capital is a private equity firm founded by construction and real estate industry veteran Todd Hitt that originates, structures and manages strategic equity investments across a variety of business disciplines. Core investments include all real estate sectors as well as technology and innovation.
K Street Capital is an angel network of public affairs professionals seeking to accelerate early-stage companies in regulated marketplaces as startups increasingly seek to disrupt sectors that face heavy governance by policymakers.
“In the oncoming Third Wave of the Internet, we’ll see significant disruption of major real-world sectors, and as a result, successful entrepreneurs will need to understand how to build valuable partnerships, connect with great investors and navigate the public policy environment,” said Case. “The team at 1776 has the proven ability to offer entrepreneurs the critical resources they’ll need in the Third Wave, and we are delighted to help them propel this mission.”
“Pepper Group was founded on the idea of satisfying an unmet need through innovation,” said Michael Culhane, Pepper’s Co-Group Chief Executive Officer and Director. “Through our investment in 1776, we are looking to support other startup businesses, and in turn, gain access to new and innovative ideas from a range of industries. For Pepper Group, the idea that the next ‘big thing’ in financial services will come only from another financial services player deserves to be challenged.”
“1776 is the vanguard of entrepreneurship in the indispensable sectors that affect every aspect of our lives like health, energy, food, money, transportation and security,” said Evan Burfield, 1776 Cofounder and Co-CEO. “Together with our investors we’re ready to reach every corner of the globe where innovators can benefit from our network and expertise.”
Now joining the 1776 board of directors are Culhane and Ronald Klain, former chief of staff to Vice President Biden and Revolution’s Executive Vice President and General Counsel.
1776 is the global innovation network that uncovers promising highly scalable startups focused on solving the world’s most fundamental challenges and helps engineer their success. From its headquarters in Washington, D.C., it is sparking a global movement of high-growth startups driving meaningful innovation through its Challenge Cup and Startup Federation, the premiere network of incubators throughout the world. For information, please visit www.1776.vc or follow us on Twitter @1776.