Sydney based venture fund
Backing founders who do more with less
Groove is a Sydney based venture fund. We invest in founder led businesses and bring capital, operating experience and a network built over four exits.
What we back
Capital efficient businesses with founders who operate.
We look for companies that grow on their own revenue for as long as possible, use technology and AI to stay lean, and are run by people who know their customers by name.
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Stage
Seed to Series A
First institutional cheque or a top up alongside a lead. We are comfortable being early and staying patient.
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Sector
Software, AI and services
B2B software, AI enabled services and technology led businesses in property, health, media and professional services, where we have built and sold before.
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Profile
Revenue first
Paying customers, clear unit economics and a path to profit that does not depend on the next round.
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Geography
Australia and New Zealand
Founders based here, or selling here, with ambitions well beyond the local market.
Our belief
Great businesses don’t need more capital. They need the right support.
We back businesses that grow faster with fewer people, less capital and more leverage, using the tools now available to every founder.
How we invest
Money,
then hands on.
Groove invests from a single balance sheet, so decisions are quick and there is no committee to convince. After the cheque, founders get an operator on the other end of the phone, not a quarterly report request.
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Decide fast
One conversation to understand the business, a second to agree terms. A clear yes or no within weeks, with reasons either way.
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Work the plan
Go to market, pricing, hiring, board and capital strategy, drawn from businesses we have grown and sold ourselves rather than from a playbook.
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Open the network
Customers, senior operators, co investors and acquirers built up across proptech, media, healthcare software and managed services.
Portfolio
Companies we have backed.
A selection of current investments.
Founder
Rafael Niesten
Raf is a serial entrepreneur and author with four company exits across proptech, media, healthcare software and managed services. Groove is where that experience and capital get put to work for other founders.
Connect on LinkedIn (opens in a new tab)-
Four exits
Proptech, media, health software, managed services
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Telstra Best of Business
National winner for outstanding growth
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AFR Fast 100 and Deloitte Fast 50
Repeat listings for revenue growth
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Young Australian of the Year finalist
Citizen of the Year, WA Youth
Writing
Ideas from Rafael.
Longer thinking on capital efficiency, building to exit and what makes a founder worth backing.
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Read article (opens in a new tab)
Doing more with less
Why capital efficiency matters now more than at any time in Rafael's career.
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Read article (opens in a new tab)
Lessons from four exits
What Rafael learned about building and selling businesses across four different industries.
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Read article (opens in a new tab)
Backing the next generation
What Rafael looks for in founder-led businesses and what makes him say no.
About
What people say.
"Rafael is a diamond in the rough – he embodies hustle and grit. From collecting cans in Perth to a US private equity exit, his story proves what relentless drive can build."
"Raf is a force of nature. From hustling cans to building multiple successful businesses to exit, Raf has shown a relentless desire to build, and has avoided many of the pitfalls that founders fall victim to as they play real-life snakes and ladders."
"Raf has the rare and enviable talent of being able to step outside accepted truths and perceptions to analyse opportunities in both life and business, and chart his own, often contrarian path to success: the kind of success that seems all too obvious after the fact, but is otherwise missed by so many."
New book February 2027
Making
More With Less
The investment thesis behind Groove, written down. How to build businesses that grow faster with fewer people, less capital and more leverage, using the tools now available to every founder. Published by Major Street Publishing.
Contact
Let’s talk.
Raising, looking for a co-investor, or want to talk about speaking and media? Send a note — we reply to everything.
Email Groove
hello@groove.com.au