Stuart Richardson, co-founder of YBF Ventures, is winding down his executive role at the startup hub to build new funds to back Australian technology startups.
Richardson, who founded the Melbourne-based company in 2011 with Darcy Naunton inside an 1850s heritage-listed space formerly known as the York Butter Factory, will still be a non-executive director and shareholder.
“Now is the right time for me to refocus on Adventure Capital (where he is managing director), further scaling its exciting portfolio and originating new businesses while establishing new funds,” says Richardson.
“I have always been a creator, establishing the foundations for successful startups and surrounding ecosystems, forging founding teams and scaling their impact to sustainably evolve into the growth stage as new economy businesses. The amazing YBF team are well-positioned to take YBF Ventures to the next level.”
Richardson’s current fund at Adventure Capital, the Digital Accelerator LP, is a super-angel style venture fund focused on finding and guiding early-stage tech companies that are highly capital efficient and have global ambition and scope.
YBF Ventures hired its first CEO, Farley Blackman, in late 2017. Farley was brought in to expand YBF’s vision, to grow the business and to continue to steer YBF on its journey of shaping Australia’s technology landscape.
“I want to sincerely thank Stuart for co-founding YBF, for his thought leadership and for recruiting me into the role of CEO,” says Blackman.
“I have known Stuart for the better part of a decade and his commitment to the startup space is legendary. The team and I are excited to grow YBF, building on what Stuart and Darcy created seven years ago. I look forward to continuing to work with Stuart on the YBF Board.”
YBF was initially started as a coworking space in Melbourne and has developed into an innovation ecosystem –– a curated and diverse community of entrepreneurs and subject matter experts who have created hundreds of new, disruptive technology businesses.
The company focuses on innovation in a number of industries, producing successful businesses including Equiem and Clover.com.au. It has housed high-growth residents such as Doshii, Latipay, Gleam.io and Modbot.
YBF announced its fintech hub partnership with the Victorian Government at the end of 2017. The hub has been operational since the start of 2018.
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