Scaleup Mediafund has launched a fourth media-for-equity fund, backed by AUD $25 million in advertising inventory from five media groups.
The new vehicle is supported by News Corp Australia, Foxtel, NOVA Entertainment, oOh!media and REA Group. It follows the full deployment of Scaleup's previous AUD $15 million fund.
Scaleup takes equity stakes in companies in exchange for advertising space across media channels. The model targets Australian consumer businesses seeking broader brand exposure without paying upfront cash for large campaigns.
Since starting operations in 2017, the firm has built a portfolio of more than 20 companies, five of which have gone on to acquisition or initial public offering.
The portfolio spans consumer goods, health, fintech, proptech and services. Brands named by the firm include Hawke's Brewing, Finder, Naked Life, Bare Funerals and NobleOak.
Michael Lamont, investment principal at Scaleup Mediafund, said the latest fund reflected continued backing for the approach.
"The launch of our $25 million fourth fund is a strong vote of confidence in the media-for-equity model. Since inception, we have demonstrated that giving early-stage companies access to premium advertising inventory is a powerful catalyst for sustainable growth," Lamont said.
Media-for-equity deals have become an alternative financing route for companies that need marketing reach but want to preserve cash. In these arrangements, media owners provide ad space in return for a shareholding rather than direct payment.
Lamont said the structure addresses a common obstacle for younger consumer brands.
"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," he said.
He said the fund also supports founders by giving them access to large audiences across multiple outlets.
"We back founders with premium advertising space, enabling them to reach millions of Australians and scale without draining cash reserves," Lamont said.
One example cited by the firm is Hawke's Brewing, which partnered with Scaleup in 2023. Under the arrangement, Scaleup took an equity stake in the brewer in exchange for advertising inventory.
Hawke's then ran sustained campaigns across television, outdoor, radio and digital media. According to Scaleup, those campaigns delivered tens of millions of impressions and lifted the brand's visibility in Australia's beer market.
Scaleup said Hawke's volumes have nearly doubled year on year. The firm also said the brewer's venue in Sydney's inner west recorded its strongest festive trading period in 2025.
The latest fund retains the same media partners as the previous vehicle. Their participation gives Scaleup access to inventory across print, broadcast, audio, outdoor and property media channels, broadening the range of businesses that could use the structure.
Lamont said the group is now seeking more companies that fit its investment approach.
"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," he said.
He added that the reach of the participating media companies remained central to the offer.
"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," Lamont said.