Scaleup launches $25 million fund giving Australian startups access to News Corp, Foxtel and NOVA advertising
Scaleup Mediafund has opened applications for its fourth fund, with $25 million in capacity to support high-growth Australian businesses through a media-for-equity model. The fund exchanges premium advertising inventory across News Corp Australia, Foxtel, NOVA Entertainment, oOh!media and REA Group for equity stakes in early to growth-stage consumer-facing companies.
The model addresses a specific and common problem for scaling consumer brands. “Many emerging consumer brands hit a wall,” said Michael Lamont, Investment Principal at Scaleup. “They need mass market awareness to grow, but cannot afford the upfront cash required for major media campaigns. Scaleup bridges that gap.”
Operating since 2017, Scaleup has built a portfolio of more than 20 consumer-facing companies, five of which have reached acquisition or IPO. The portfolio includes Finder, NobleOak, Naked Life, Bare Funerals and Hawke’s Brewing, among others.
The Hawke’s Brewing partnership illustrates what the model can deliver in practice. Scaleup acquired an equity stake in the Sydney brewery in 2023 in exchange for advertising inventory, enabling the business to run its first sustained brand campaigns across television, outdoor, radio and digital platforms. The results were significant: Hawke’s volumes nearly doubled year on year, significantly outperforming the broader beer market, and the brewery venue delivered record trading over the 2025 festive period.
The fourth fund follows the full deployment of Scaleup’s third fund, valued at $15 million. All existing media partners are participating in the new round.
Lamont said the fund is actively 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. “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.”
The fund targets consumer-facing businesses at early to growth stage rather than pre-revenue or B2B startups. Founders who believe their business fits the criteria can apply and find program details at scaleupmediafund.com.
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