According to THE BUSINESS TIMES, venture capital firm Square Peg announced the close of its fifth fund, raising $550 million. Investors in the fifth fund include Australian superannuation funds Hostplus and AustralianSuper, as well as family offices, institutions and endowments, of which some are returning investors. Tushar Roy, a partner at Square Peg, said that the new fund will keeping a keen eye on the high levels of activity in Web3 across Australia, Israel and South-east Asia.