Australia’s Airtree elevates long-time Partner Elicia McDonald to CEO
Synopsis
Airtree CEO Elicia McDonald will lead the venture capital firm from May 2026 after spending a decade at the company. The appointment follows Airtree’s A$650 million fundraising and comes as venture capital investment activity gradually improves following a broader slowdown in global startup funding markets.
Airtree appointed Elicia McDonald chief executive following its recent A$650 million fund raise and leadership transition involving co-founder Craig Blair becoming chair.
Key Highlights
- Airtree CEO Elicia McDonald will officially assume the role from May 2026.
- McDonald joined Airtree in 2016 and spent a decade rising through investment leadership positions.
- Airtree recently raised A$650 million across startup and growth-stage investment funds.
- Venture capital funding activity remains below 2021 levels despite recent improvement in dealmaking activity.
Airtree CEO Elicia McDonald will formally take over leadership of the venture capital firm in May 2026, following an internal transition announced by the company.
McDonald joined Airtree in 2016 as an associate and later became investment principal and partner. She will continue managing investments while serving as chief executive.
Co-founder Craig Blair will move into the role of chair as part of the leadership change.
Leadership Change Comes After Major Fund Raise
The Airtree CEO Elicia McDonald's appointment follows the firm’s recent A$650 million fundraising across seed and growth investment funds.
According to Capital Brief, the raise included A$250 million focused on early-stage startups and A$400 million for growth-stage technology companies. The latest fundraising brought Airtree’s assets under management close to A$2 billion.
The leadership change comes during a slower venture capital cycle globally. Data from Cut Through Venture’s State of Australian Startup Funding 2025 report showed startup investment activity improved in late 2025 but remained below the funding highs recorded in 2021.
McDonald Reflects on Ten Years at Airtree
In a LinkedIn post announcing the transition, Airtree CEO Elicia McDonald reflected on her time at the firm, writing: “A decade ago, I started at Airtree as an associate.”
She also said the company had grown from “a small team with big ambition” into an investment firm managing billions in capital across startup and growth-stage investments.
McDonald added that she would continue “working closely with founders and the Airtree team every day,” while taking on the chief executive role.
Craig Blair described the transition as part of the firm’s long-term leadership planning.
Global Investors Continue Watching Startup Sector
Airtree’s recent fund attracted backing from institutional investors, including Harvard Management Company and Adams Street Partners, according to investment reports.
Technology firms backed by Airtree, including Canva and Airwallex, have expanded operations across North America, Europe and Southeast Asia in recent years as investors continue tracking software, fintech and artificial intelligence sectors outside traditional US venture capital hubs.
FAQs
Q1. Who is Airtree’s new CEO?
Elicia McDonald has been appointed CEO of Airtree after spending nearly a decade at the venture capital firm.
Q2. How much capital does Airtree currently manage?
Airtree manages close to A$2 billion after recently raising A$650 million across new investment funds.
Q3. Why is Airtree’s leadership change important?
The transition comes as venture capital firms adjust to slower startup funding conditions and increased investor focus on profitability.
Q4. Which companies has Airtree invested in?
Airtree has backed technology companies including Canva, Airwallex, Linktree and Employment Hero.
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Pooja Malik is a business journalist with over six years of experience covering startups, entrepreneurship, and emerging trends. She has previously worked with leading media platforms such as YourStory Media and BW BusinessWorld, where she reported on business, policy, and market developments. Currently, she serves as Editor at The Inspirepreneur Magazine, where she writes and edits stories across business, lifestyle, and travel, with a focus on clarity, accuracy, and reader relevance.
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