Mark Sherman has been in charge of Telstra Ventures, the corporate venturing arm of Australia-based telecoms company Telstra, since 2012.
The unit invests in technology startups all over the world, and over the course of the last decade has backed a number of unicorns including blockchain infrastructure firm Blockdaemon, cybersecurity specialist Crowdstrike, data management business DocuSign, crypto exchange FTX, cloud infrastructure company GitLab and Xtransfer, a cross-border payment company.
Looking ahead after 10 years at the helm of Telstra Ventures, Sherman said: “The future of venture investing really comes down to differentiation. If, in the past, there was a period where venture capitalists sought out opportunities others overlooked or feared, that time is over.
“The availability of capital just means that in the future, where there is a healthier balance of power between VCs and entrepreneurs, we’re going to see more specialisation of venture investors. The reality is that entrepreneurs need different things, at different stages – and not just different types of capital. So a new taxonomy of VCs will emerge – not just of those who focus mostly on sectors like cyber, fintech or carbon and climate.”
Among Telstra Ventures’ recent investments are lead roles on the $45m series C raise for LambdaTest, a provider of software testing services, as well as on the $46m series D round for mobile communications specialist Cohere Technologies. The unit also took part in the $60m series C round for API security firm Cequence.
Before joining Telstra, Sherman was a general partner at investment firm Hidden Lion Partners and had the same role at venture capital company Battery Ventures. He had previously worked at the investment banks of Robertson Stephens, McFarland Dewey and Lazard Freres.
Sherman has a bachelor’s degree in economics from University of Pennsylvania’s Wharton School as well as an MBA from Harvard Business School.
