# Regal Funds Management

> Regal Funds Management is a VC fund in Sydney backing Software and FinTech. See 82 investments, check sizes, portfolio and contact details. Updated Aug 2026.

- Type: VC Fund
- Location: Sydney, Australia
- Total investments: 82
- Last investment: Aug 2026
- Lead investor: 32%
- Fund size: $54M
- Last fund: Jun 2022
- Last updated: Aug 2026
- LinkedIn: https://in.linkedin.com/company/regal-funds-management
- Website: http://www.regalfm.com

Regal Funds Management is a VC fund in Sydney focused on Software and FinTech. Regal Funds Management aims to provide investors with absolute returns over the medium to long term, through a suite of investment products in both listed and unlisted equities. The Regal Emerging Companies Fund focuses on Pre-IPO, later stage VC, expansion capital and listed micro-cap opportunities.

## Contacts

5 contacts available for Regal Funds Management. Shizune tracks 4 team members at Regal Funds Management. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/regal-funds-management?utm_source=investor_profile

## Round sizes

| Stage | Round size |
| --- | --- |
| Series B | $7M–$30M |
| Convertible Note | $1.9M–$17M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Software | 15 | 18% |
| FinTech | 14 | 17% |
| Financial Services | 14 | 17% |
| Health Care | 9 | 11% |
| Artificial Intelligence | 9 | 11% |

137 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Convertible Note | 15 | 18% |
| Series B | 14 | 17% |
| Funding Round | 12 | 15% |
| Series C | 8 | 10% |
| Venture - Series Unknown | 7 | 9% |

13 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| Australia | 44 | 54% |
| United States | 18 | 22% |
| United Kingdom | 3 | 4% |
| India | 2 | 2% |
| Israel | 1 | 1% |

6 countries tracked in total.

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Ben McCallum | Portfolio Manager | 13 | https://shizune.co/investors/profile/ben-mccallum |
| Brendan O'Connor | CEO | 0 | https://shizune.co/investors/profile/brendan-o-connor |
| Julian Babarczy | Portfolio Manager | 0 | https://shizune.co/investors/profile/julian-babarczy |
| Philip King | Chief Investment Officer | 2 | https://shizune.co/investors/profile/philip-king-2 |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Firmus Technologies | Firmus Technologies creates the most efficient AI infrastructure: AI Factories designed to operate at the max-q of AI token generation and profitability. With advanced liquid-everywhere data center technology at its core, Firmus innovates across all layers of the AI Factory, from energy grid management and thermal innovations to GPU and networkingtelemetry and control. This holistic approach creates AI Factories that operate at peak efficiency, delivering high uptime, throughput, and profitability with future-proofed designs.At the heart of this infrastructure is AI FactoryOS, Firmus’ pioneering operating system that integrates data intelligence and control across the physical AI Factory.SMC, Firmus' AI-native cloud platform, leverages SHARP-enabled networking and NCP reference architecture, benefiting from the efficiency of our AI Factory infrastructure. SMC empowers customers to train faster, deploy smarter, and scale globally, while maximizing the value of every token generated. | $2B | Private Equity | Aug 07, 2026 |  |
| Iondrive | Iondrive is an exploration company that provides metals. They offer products that include gold, silver, copper, and other metals. They provide services for industrial use. | $2.6M | Post-IPO Equity | Nov 24, 2025 |  |
| Firmus Technologies | Firmus Technologies creates the most efficient AI infrastructure: AI Factories designed to operate at the max-q of AI token generation and profitability. With advanced liquid-everywhere data center technology at its core, Firmus innovates across all layers of the AI Factory, from energy grid management and thermal innovations to GPU and networkingtelemetry and control. This holistic approach creates AI Factories that operate at peak efficiency, delivering high uptime, throughput, and profitability with future-proofed designs.At the heart of this infrastructure is AI FactoryOS, Firmus’ pioneering operating system that integrates data intelligence and control across the physical AI Factory.SMC, Firmus' AI-native cloud platform, leverages SHARP-enabled networking and NCP reference architecture, benefiting from the efficiency of our AI Factory infrastructure. SMC empowers customers to train faster, deploy smarter, and scale globally, while maximizing the value of every token generated. | $220.7M | Private Equity | Sep 16, 2025 |  |
| Send Payments | SendFX provides cross-border payment and remittance services to individuals and SMEs. | $5M |  | Aug 25, 2025 |  |
| Carma | Carma is a fully digital used car dealership, offering a large range of quality pre-owned vehicles at fixed prices, delivered to the home. | $18.9M | Convertible Note | Mar 26, 2025 |  |
| Amaero International | Amaero International is a manufacturer of high-temperature powder metals and specialty powders. The company produces refractory, titanium, and specialty alloyed powders using gas atomization and hot isostatic pressing (HIP) technologies. Amaero International serves sectors including defense, aerospace, energy, and medical. | $13.9M | Post-IPO Equity | Feb 11, 2025 |  |
| Thinxtra, The IoT Telco | Thinxtra is an Internet of Things (IoT) company founded by IoT experts who share the same passion and expertise: connecting things to improve business processes. | $3.3M | Debt Financing | Jun 01, 2023 |  |
| Send Payments | Send is a fast-growing fintech delivering embedded finance solutions to well-known brands. |  | Series B | Feb 20, 2023 |  |
| Send Payments | SendFX provides cross-border payment and remittance services to individuals and SMEs. | $7.9M | Series B | Feb 17, 2023 |  |
| Nykaa | Nykaa is an e-Commerce platform for different beauty and wellness products for men and women. They also offer comprehensive content including product reviews, beauty how-to videos, articles by experts, and an e-beauty magazine. Their helpline helps to choose products and services best suited for customer's needs. Nykaa's products areauthentic sourced directly from brands and provide a delivery experience.Nykaa was founded in 2012 by Falguni Nayar and is headquartered in Mumbai, Maharashtra, India. | $41.1M | Post-IPO Secondary | Nov 22, 2022 |  |

10 of 82 investments shown.

## Co-investors
- [Thorney Investment](https://shizune.co/investors/profile/thorney-investment) — VC Fund, 10 deals together
- [Perennial Partners](https://shizune.co/investors/profile/perennial-value-management) — VC Fund, 7 deals together
- [Ellerston Capital](https://shizune.co/investors/profile/ellerston-capital) — VC Fund, 4 deals together
- [Five V Capital](https://shizune.co/investors/profile/five-v-capital) — VC Fund, 4 deals together
- [Ophir Asset Management](https://shizune.co/investors/profile/ophir-asset-management) — VC Fund, 4 deals together
- [Washington H. Soul Pattinson](https://shizune.co/investors/profile/washington-h-soul-pattinson) — VC Fund, 4 deals together

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## FAQ

### What does Regal Funds Management invest in?

Regal Funds Management invests primarily in Software, FinTech and Financial Services startups, most often at Convertible Note and Series B stage. Most of the 82 investments tracked by Shizune back companies in Australia. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Regal Funds Management's check size?

Regal Funds Management typically joins rounds of $7M–$30M at Series B and $1.9M–$17M at Convertible Note. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Regal Funds Management participates in.

### How do I contact Regal Funds Management?

Public channels for Regal Funds Management include LinkedIn and the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.

### Who are the partners at Regal Funds Management?

The team at Regal Funds Management includes Ben McCallum (Portfolio Manager), Brendan O'Connor (CEO) and Julian Babarczy (Portfolio Manager). The Team section lists each member with their title, investment count and links.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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