Fundraising FoxEllerston Capital
Institutional investorSydney · Growth–Late Stage · 19 people tracked
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Investment thesis
The fund pursues a fundamental, bottom-up Australian equities strategy aimed at delivering sustainable dividend income across market cycles. It holds a high-conviction portfolio of 30-40 Australian listed securities that pay, or are expected to pay, dividends within 12 months, targeting both stable and growing dividend streams. The approach reflects a belief that traditional income sectors such as banks and telecoms may face dividend erosion from technological disruption, competition, regulation and structural return declines, while improving industry structures in cyclical sectors like diversified financials, consumer discretionary and materials could produce more reliable future income. The result is a portfolio with higher dividend growth than the broader market.
Source: firm website, verified Oct 25, 2026.
Team · 19 people
from the firm's website & public directories
Mark Paton is a Director at Juel Litigation Finance and Chairman of Mantis Funds, with additional experience as a director at Ellerston Industrial Growth. His background spans the financial services industry in areas including business planning, operations management, and securities, and he studied at MGSM, Columbia, and IMD Business School.
Co-leads Ellerston's Portfolio Solutions capability, bringing extensive global experience across macro investing, volatility, derivatives, absolute return and portfolio management.
Co-leads the Portfolio Solutions capability, with experience in alternative risk premia, equity volatility, dispersion, relative value and capital-efficient portfolio strategies.
Justin Diddams joined Ellerston Capital in December 2017, working on the Private Assets team across deal sourcing, due diligence, investment analysis and corporate strategy. He previously served as Chief Financial Officer of insurance tech platform Cover Genius, and before that was a Director and head of equity research covering telecommunications, media and technology at Citigroup, and an equity research analyst covering media and entertainment at RBS/ABN Amro in London. He began his career as an accountant at EY and holds a Bachelor of Commerce in Finance and Accounting from the University of Sydney.
Data scientist within Ellerston's Portfolio Solutions team.
Anton Iassenev is Chief Commercial Officer at Ellerston Capital. He has more than 16 years of experience in the investment management industry, working as an investment specialist and team leader at global multi-expertise firms. His background spans several areas of funds management, with a focus on product management and client servicing.
Portfolio Manager of the Ellerston Australian Micro Cap Fund, featured discussing innovative companies in the portfolio.
Nick Markiewicz is a Portfolio Manager of the Ellerston Global Mid Small Cap Fund, which focuses on global small and mid-cap equities. He appeared on Livewire Markets' Buy Hold Sell to discuss the outlook for global SMID equities.
David Leslie joined Ellerston Capital in 2005 and has more than 30 years of experience in technology and investment markets as a researcher, analyst, and investor. He has served as Investment Director for the Ellerston Ventures Fund and the Ellerston JAADE Private Asset Fund, where he leads the investment process, due diligence, negotiations, and investor reporting. He holds a Bachelor of Business (Economics and Finance) from the Royal Melbourne Institute of Technology.
What they invest in
from 5 of 6 portfolio companiesFintech ×3Enterprise Software ×2GovTech ×2SaaS ×2AgTech ×1AI & Machine Learning ×1B2B Marketplaces ×1Biotech ×1
HQs:Australia×3United States×2
Investments · 6 tracked
founders shown can be your intro pathBy year:2026 · 12025 · 12021 · 12018 · 14 dated
All G produces high-value proteins using precision fermentation technology for infant formula, dietary supplements, and personal care applications.
AgTechBiotechDeep TechFoodTechSydney, AU
Jan Pacas(CEO)inJared Raynes(Chief Scientific Officer)in
Co-investorsAgronomicsVirescent VenturesXeraya CapitalDoehler Ventures
Ansarada offers a SaaS platform and AI-powered virtual data rooms for investment banking and advisory teams to manage the end-to-end M&A deal lifecycle, including asset sales, capital raising, and restructuring.
AI & Machine LearningFintechGovTechSaaSSydney, AU
Steven Engel(Founder)in
Co-investorsFive V CapitalFolklore VenturesUOB Venture Management
Genero is a platform that connects marketers with independent creative talent and production partners on demand.
B2B MarketplacesCreator EconomyMarketing TechMelbourne, AU
Andrew Lane(Founder)in
Co-investorsBrick Capital VenturesACORN BIOVENTURES
Phocas is a SaaS platform providing business intelligence and financial planning & analysis tools designed for wholesale distribution, manufacturing, and retail businesses.
Data & InfrastructureEnterprise SoftwareFintechSaaS
Myles Glashier(CEO and co-founder)inDamien O'Dea(Chief Product and Technology Officer)in
Co-investorsAccel-KKROneVentures
Trovio builds enterprise-grade technology platforms for digital assets, environmental and commodity markets, and financial services sectors.
Climate TechEnergyEnterprise SoftwareFintechGovTechCovington, US
Andrew Lukas(Executive Officer, Director)Derrick Showers(Executive Officer, Director)in
BoardJames Yick(Director)
Co-investorsBlockchain Valley Ventures, LlcTrovio Group
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
Wagners
Portfolio news
latest coverage across their companiesAnsarada · ansarada.com · May 7, 2026
All G · leadsontrees.com · Nov 28, 2025
Frequently asked questions
- How many investments has Ellerston Capital made?
- Ellerston Capital has 6 tracked investments, including 2 dated in the last 24 months.
- What stage does Ellerston Capital invest at?
- Ellerston Capital invests at the Growth, Late Stage stages.
- What sectors does Ellerston Capital focus on?
- Ellerston Capital focuses on EdTech, Enterprise Software, Fintech, Healthtech, Retail Tech, SaaS, Sector Agnostic.
- Where is Ellerston Capital located?
- Ellerston Capital is headquartered in Sydney, AU.
Images
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