Seek winds down venture stake, still paying around $17m yearly in fees
Seek is selling down its 83.8% stake in the Seek Growth Fund after the portfolio fell 13% in value last financial year.
Seek is changing how it runs the Seek Growth Fund. Seek is winding down its venture investment portfolio.
The fund's total value fell 13% in the 2026 financial year. Seek will not add any more capital.
Seek will keep paying around $17 million each year in management fees for the next five years. That totals $85 million, even if the fund makes no profit.
The fund is trying to sell investments worth over $1 billion. These include Employment Hero, Queensland edtech Go1, and HR software platform HiBob.
Seek hopes its remaining stake will still grow 20%. Seek CEO Ian Narev said the revised arrangements give a pathway to near-term liquidity and bring cash into the company.
Seek has received $196 million in payouts since the fund started in 2021.
- 83.8%
- Seek's stake
- 13% in FY2026
- Fund valuation drop
- $17 million
- Annual management fee
- $85 million
- Five-year fee total
Why it mattersSeek is leaving the venture fund, signaling doubt about returns and prioritizing cash now over long-term investments.
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