TEN13

Stew Glynn and Steve Baxter are the primary decision-makers. Glynn handles day-to-day deal evaluation and portfolio support, while Baxter contributes strategic guidance and access to his network from the Shark Tank Australia and River City Labs ecosystems. Co-founder Tim Kershaw manages the syndicate operations and investor relationships.

TEN13 sources through its founders' extensive Australian startup networks. Steve Baxter's profile from Shark Tank Australia and the River City Labs alumni network generates significant inbound deal flow, while Stew Glynn's Startup Status mapping work gives the firm a data-driven view of emerging companies across the country. The firm also operates a scout network in Queensland and Victoria.

TEN13 operates as a venture syndicate, not a traditional blind-pool fund. Investors commit capital on a deal-by-deal basis through special purpose vehicles. This structure lets limited partners opt into individual rounds rather than committing to a full fund, while giving TEN13 the flexibility to lead rounds and set terms without a fixed fund lifecycle.

TEN13 focuses on Seed and Series A rounds, occasionally participating in pre-Seed rounds for founders already in its network. The firm leads rounds and also co-invests alongside other Australian venture funds like Blackbird Ventures and Square Peg. It rarely participates in growth-stage rounds above Series B.

TEN13 has not publicly stated explicit sector exclusions. Its portfolio skews toward enterprise software, fintech, and marketplace businesses with digital-first distribution. The firm has shown no appetite for deep-tech hardware, life sciences, or capital-intensive industrial businesses, consistent with its early-stage software focus.

TEN13 is a distinct investment entity from Baxter's earlier ventures River City Labs and Transition Level Investments. River City Labs was a co-working space and accelerator in Brisbane that Baxter sold to ACS in 2018. Baxter's Shark Tank Australia investments were made personally, separate from TEN13's syndicated deal flow.

TEN13 actively co-invests with other Australian venture firms. The syndicate model makes co-investment natural — it can participate in rounds led by Blackbird, Square Peg, or Airtree Ventures. The firm does not require lead-check exclusivity, which positions it as a syndicate partner rather than a competitive institutional lead in many deals.