Scalare Partners Rescues Startup Hub Fishburners Out of Administration

Scalare Partners has acquired Fishburners, one of Australia's oldest startup communities, out of voluntary administration in a cash only deal completed on June 2, boosting the firm's footprint in the local startup scene.

Fishburners was founded in 2011 and had supported more than 35,000 entrepreneurs over 15 years, helping them raise upward of 600 million dollars in investment. The not for profit fell into voluntary administration in May 2026, weighed down by unresolved legacy rental debt tied to the NSW Government's Sydney Startup Hub program and the operating losses that followed.

Brand and community assets change hands

The acquisition covers the Fishburners brand, its programs, intellectual property and community assets, though Scalare did not take on any of the organisation's employees or liabilities. Financial terms were not disclosed, with the company describing the size of the deal as not material to its overall position.

Scalare chief executive Carolyn Breeze said the acquisition "further strengthens Scalare's mission to build one of the most connected founder ecosystems in Australia." Fishburners members will gain access to Tank Stream Labs locations nationally, and the company plans a dedicated Fishburners hub at Tank Stream Labs' Kent Street campus in Sydney.

Rebuilding the programs

Scalare intends to relaunch Fishburners' Pitch Nights and founder showcase programs on a national basis and set up a new Fishburners investment vehicle for selected startups. Tank Stream Labs chief executive Bradley Delamare said founder communities "remain critically important despite technological advances." Combined, the two organisations now represent more than 40,000 founders and over 10,530 startups supported, with 5.4 billion dollars raised collectively across the ecosystem.