Tundra Capital

Financing the future

Specialist capital for strategic, sovereign and critical industries

Tundra Capital is an experienced Australian capital manager bringing deep domain expertise, disciplined investment processes and hands-on portfolio governance to the world's most undercapitalised sectors. We back commercially grounded ventures with proven technology and capability to scale across the water, energy, ag and food technology verticals.

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Responsible capital.

Funds

Purpose-built funds financing the future of critical industries.

Venture CapitalAgrifood

Mandalay Fund I

Seed to Series A agrifood technology ESCVLP fund investing in class-leading ventures across the farm-to-fork value chain.

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Venture Capital

Tundra Fund II

Series A to Series B venture capital fund investing in innovations across global food security, water and energy technology in critical industries.

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Private Credit

Corporate Credit

Private credit and lending options for businesses operating across essential supply chains and critical industry infrastructure.

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Approach

Partnering with private investors, founders and the public sector.

Investors

Capital invested with Tundra is deployed with discipline, actively managed and reported with full transparency. We maintain direct oversight across every portfolio company and remain engaged through the full investment lifecycle, from initial commitment through to exit.

What this means for you

  • Specialist mandate with deep domain expertise across food, energy and water

  • Institutional grade governance and disciplined capital deployment

  • Active portfolio management and hands on asset stewardship

  • Exit thesis driven investment with structured liquidity planning

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Founders

We choose carefully and commit fully. We back founders who are reshaping critical industries. That means board representation, support on key decisions, access to deep industry and government networks and the domain expertise to help you scale within complex global value chains.

What this means for you

  • A lead investor with genuine conviction and the capability to follow through

  • Board level support and active involvement at every growth stage

  • Access to deep industry, institutional and government networks across APAC

  • A long term partner who understands the complexity of building in critical sectors

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Public Sector

Tundra Capital has designed and delivered early stage investment programs in partnership with state and federal government, corporates and research institutions. We understand how policy intent translates into investable outcomes and how to structure capital that performs within complex regulatory and compliance environments.

What this means for you

  • A capital partner with a verified program design and delivery track record

  • Expertise translating policy intent into commercially viable outcomes

  • Established relationships across government, industry and the research and commercialisation ecosystem

  • Capital structured to operate effectively within regulatory and procurement constraints

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People

Experienced investors with deep domain expertise.

Mark Gustowski

Managing Partner

Timothy Hui

Managing Partner

Dr Saskia Urlass

Investment Analyst

Dr Chris Booth

Accociate Syndication

Contact

Ask a question or request more information about our funds.

Pitch your venture

We're always looking for the next generation of agrifood technology ventures. Submit a pitch request and we'll be in touch.

Submit pitch request

Financing
the future.

© Mandalay Funds Management Pty Ltd, 2026

The Mandalay group of companies (The Mandalay Group) includes various entities who are corporate authorised representatives of Zentaurus Investment Management Pty Ltd (ABN 65 136 418 696, AFSL 401224). Mandalay Funds Management Pty Ltd (ABN 15 646 412 633, AR 1285388) t/as Mandalay Venture Partners is the investment manager of Mandalay Fund I, LP. Tundra VC 1 Pty Ltd (ACN 688 677 518, AR 001318788) acts in the capacity of the general partner of Mandalay Management I, LP (IP12213, AR 1294878) in its capacity as General Partner of Mandalay Fund I, LP IP12214. This website does not constitute an offer for interests in any financial product or for that matter financial product advice. Investment into Mandalay funds is only available for persons who qualify as wholesale clients as identified in section 761G of the Corporations Act.