Updated:
YBF Ventures
YBF Ventures originally operated as the York Butter Factory, a co-working and community hub founded in 2011 in Melbourne that became a central meeting...
YBF Ventures
YBF Ventures originally operated as the York Butter Factory, a co-working and community hub founded in 2011 in Melbourne that became a central meeting point for Australian founders, enterprise customers and investors. The pandemic forced its closure. Matt Browne — founder of Donesafe and Whispli, and managing partner at Black Nova VC — and Steve Grace, who built The Nudge Group, acquired the dormant brand and relaunched it in 2024 as an operator-led community aimed at AI-first founders. The firm's deployment strategy is structured around three verticals rather than a traditional fund vehicle. A closed-door dinner series matches three to five vetted founders with eight to ten senior buyers from ASX 300 companies, organized by corporate function. Founder circles of six to eight operators run on a YPO-style peer model with proprietary content and frameworks. A podcast, "I Can't Believe It's Not Butter," distributes tactical operating commentary from all four partners on a weekly basis. Browne and Grace have confirmed that an accelerator program will follow once these foundational layers are established. The geographic focus is Australia, operating from hubs in Melbourne and Sydney. Browne's Black Nova Venture Capital, which shares a partner with YBF, has backed early-stage enterprise software and cyber companies including 1Password. The four partners together bring operational experience from Whispli, Finder, Stride Equity and three decades of corporate deal-making. The firm's Sydney PropTech Hub on Clarence Street and its Web 3.0 hub, YBF Mesh, extend its physical presence beyond Melbourne. YBF also maintains a philanthropic arm, the YBF Mesh Foundation Program, and participates in the Invest Victoria Advisory Network. YBF's structure as a community and advisory collective rather than a licensed fund manager differentiates it from the Australian accelerator complex. It does not raise external capital or take management fees — the model monetizes corporate-access dinners, peer-circle memberships and future accelerator programming, aligning partner incentives with founder outcomes rather than asset-gathering.
General information
Firm type
Generalist
Year founded
2011
AUM
Undisclosed
Location
Region
Asia
Country
Australia
City
Melbourne
Corporate office
520 Bourke Street, Melbourne, VIC, Australia
Additional offices
155 Clarence Street, Sydney, NSW, Australia
Principals
Matt Browne
Operator
Steve Grace
Operator
David Kenney
Operator
Jeremy Cabral
Operator
Sector focus
Frequently asked questions
Who runs YBF Ventures and makes investment decisions?
YBF Ventures is run by four operators: Matt Browne, Steve Grace, David Kenney and Jeremy Cabral. There is no centralized investment committee because YBF does not operate a discretionary fund. Capital allocation decisions — when founders are introduced to corporate buyers or individual angel investors — happen through the dinner series and founder circles, where Browne's venture fund, Black Nova VC, and Grace's Stride Equity network can participate on a deal-by-deal basis.
Does YBF Ventures run a venture capital fund?
No. YBF does not raise or manage a commingled fund. The firm generates revenue from corporate-access dinners, peer-group memberships and advisory programs. Matt Browne's firm, Black Nova Venture Capital, is a separate early-stage VC that may invest alongside introductions made through the YBF network, but YBF itself does not take carried interest or management fees.
How does YBF source startups for its programs?
Sourcing is entirely operator-driven. The four partners use their personal networks — Browne from Donesafe and Black Nova, Cabral from Finder, Grace from The Nudge Group — to identify founders building enterprise software and AI tools for large corporate buyers. The firm does not run open applications. Deal flow is curated through direct relationships and referrals within the Australian startup ecosystem.
What is the relationship between YBF Ventures and Black Nova Venture Capital?
Matt Browne is a founder of both YBF Ventures and Black Nova Venture Capital. Black Nova is an independent early-stage VC fund with its own limited partners and investment strategy. YBF functions as a community and corporate-access platform where Black Nova may see deal flow, but the two entities have no formal capital-sharing or management-fee arrangement.
Does YBF Ventures have a philanthropic arm?
Yes, YBF maintains the YBF Mesh Foundation Program. The firm has not publicly disclosed funding sources or grant-making criteria for the foundation, but it operates separately from the commercial dinner series, podcast and membership programs.
What is YBF's posture on co-investment alongside external venture firms?
YBF does not co-invest as a firm because it does not manage a balance sheet or fund. External VCs, including Black Nova and Stride Equity, may independently fund startups introduced through the dinner series, but YBF itself acts as a facilitator rather than a co-investor.
Why did YBF cease operating as a co-working hub?
The original York Butter Factory co-working hub in Melbourne closed during the COVID-19 pandemic. Matt Browne and Steve Grace acquired the brand and relaunched it in early 2024 as an operator-led community with no physical co-working component, focusing instead on curated dinners, peer groups and media.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
Need institutional-grade insight on family offices?
Altss delivers:
Prefer a guided tour?
We’ll walk you through: