Two months after announcing that Matt Vitale was stepping down as CEO of Birchal, the crowdfunding platform has appointed Kirstin Hunter - who was initially given the role on an interim basis - as the new CEO.
Her appointment follows a comprehensive search for a new top boss, with Hunter previously serving as co-founder and CEO at Future Super and managing director at Techstars, one of the world's largest pre-seed technology investors.
Hunter’s background also includes roles at law firm giant Herbert Smith Freehills and VC players Blackbird and Startmate.
The news comes three months after Birchal raised $2 million via its own platform, which followed Birchal's First Syndicate program funding $2.5 million to hardware technology companies including Dovetail Electric Aviation, Cormagna and Volt Solar Tile.
“Crowdsourced equity has a crucial role to play in building a thriving innovation ecosystem in Australia,” Hunter said.
“As Australia’s market-leading crowdsourced equity platform Birchal is already well known for providing wealth creation opportunities for retail investors.
“What really excites me is crowdsourced equity increases the economic power of retail investors by taking business funding decisions away from a small number of professional investors and placing it in the hands of the community.”
As the managing director at Techstars, Hunter was responsible for selecting and mentoring promising startups, providing them with pre-seed investment, and accelerating their growth through a 13-week mentor-driven accelerator program based in Sydney.
Under her leadership, the 2024 Techstars Tech Central Sydney accelerator achieved a milestone with 83 per cent of its startups having at least one woman founder.
“I’m so proud of the impact I’ve had as managing director of the Techstars Tech Central Sydney Accelerator, and I will be continuing to support Techstars and the new managing director to ensure that the 2025 accelerator is an even bigger success,” Hunter added.
“As the new CEO of Birchal, I’m thrilled to leverage my experience as co-founder of Future Super combining people and financial power to change the superannuation sector, and more recently shaping the next generation of innovative business leaders as an investor at Techstars Tech Central Sydney Accelerator.”
Since its inception in 2017, Melbourne-based Birchal has facilitated equity crowdfunding that has raised $225 million for more than 350 campaigns and 130,000-plus investments.
Vitale, who along with Alan Crabbe founded Birchal, made the decision to step aside “after some deep reflection” over a holiday break with the CEO noting that he was “a bit broken” after a challenging year for the sector.
Vitale said he is proud of the impact that Birchal has made over its first eight years.
“Starting a new industry from ground zero is never easy, and I have loved every minute,” he said.
“With the announcement of Kirstin Hunter as Birchal’s CEO, I have deep confidence that Birchal’s best days are ahead.
“I remain one of Birchal’s biggest champions and look forward to supporting Kirstin with anything she needs to set her and Birchal up for success.”
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