3 Chiefs

Aaron Birkby, Charlie Gearside, and Mathew Xerri share equal responsibility for investment decisions. The three co-founders operate without a managing partner hierarchy, with each partner taking board seats on portfolio companies within their domain expertise. No single partner holds veto power over the other two; decisions are made by consensus.

The firm sources through a combination of the partners' personal networks built across Australian accelerator programs, corporate venture, and operator communities. Birkby's tenure running Startup Catalyst gives the firm a pipeline into technical founder circles, while Gearside's corporate venturing background surfaces enterprise-focused companies. The Adelaide base also provides preferential access to spinouts from South Australia's defence and space technology clusters.

3 Chiefs operates primarily as a deal-by-deal syndicate rather than a blind-pool venture fund. The firm raises capital for each investment individually from a curated network of angel investors, family offices, and operators. This structure allows flexible cheque sizes and co-investment terms but means the firm does not manage a committed fund with a fixed AUM.

The firm writes first cheques in the range of approximately AUD 250,000 to AUD 750,000 into pre-seed and seed rounds. Because 3 Chiefs syndicates each deal, the effective round size co-ordinated by the firm can be larger when including co-investors from its network. Specific round sizes vary deal by deal.

3 Chiefs does not invest in consumer-facing mobile apps, pure-play e-commerce, or hardware-intensive businesses requiring significant capital expenditure before revenue. The firm focuses on capital-efficient business-to-business software, industrial and climate technology, and applied AI, where founders can reach early revenue milestones without large-scale manufacturing or consumer marketing spend.

The three co-founders were all based in Adelaide when they formed the partnership in 2021. Operating from South Australia gives the firm differentiated access to defence and space technology spinouts, regional agtech companies, and university research commercialisation that is less heavily competed for by Sydney and Melbourne venture firms. The lower cost base also allows the firm to operate with a lean structure.

3 Chiefs typically leads or co-leads the rounds it participates in and takes board seats as part of its engagement model. The firm structures the syndicate, sets terms, and works actively with founders post-investment on go-to-market and product strategy. It does not operate as a passive co-investor alongside external lead investors.