Mike Cannon-Brookes: How the Atlassian Founder Backs Climate and Tech

A founder emails you. Then another. Your investor updates are stuck in drafts. A term sheet you chased for six weeks goes quiet. Raising capital feels like running a second company, except you don't have a CRM, a pipeline, or a rhythm. Mike Cannon-Brookes never raised venture capital as a founder (Atlassian was bootstrapped to IPO) but his post-Atlassian playbook for deploying capital into climate and tech is a masterclass in how to run a disciplined investment operation. In this guide, I'll break down exactly how he does it, step by step, and what founders and investors can steal from his methods.

Prerequisites: What You Need to Know Before You Start

Before you attempt to follow his playbook, you need a grip on your own capital stack. Use Capitaly's free fundraising calculators to model your dilution and runways. You will also need to internalize three things: the scale and source of his capital, his unique blend of tech and climate focus, and the Australian energy landscape that shaped his bets.

Cannon-Brookes co-founded Atlassian in 2002 with a $10,000 credit card debt. The enterprise software company stayed bootstrapped until filing to go public on the NASDAQ in 2015. That disciplined, long-horizon approach built a personal fortune now concentrated in a family office, Grok Ventures, that operates with the rigor of a venture capital firm but the patience of an endowment. Understanding this context matters. Most founders will raise external capital, not bootstrap to billions, but the underlying principle is the same: treat your capital strategy like a product, not a side project.

If you are raising a pre-seed or seed round, you can apply that same discipline with Capitaly's fundraising templates. They give you cold investor emails, data room checklists, and pitch deck outlines, so you spend time selling, not formatting.

Step 1: Build a Liquid Tech Fortune First

Atlassian's own press releases document a bootstrapped journey from two Sydney university students to a global enterprise staple. The company's products, Jira, Confluence, and Trello, became the operating system for software teams. Revenue grew with zero external venture investment, a path almost unheard of in enterprise SaaS. That gave Cannon-Brookes a massive, liquid net worth and, crucially, a co-CEO structure that freed his time to pursue climate and tech investing aggressively.

The co-CEO model, with Scott Farquhar, meant neither founder was operationally trapped. While Farquhar led more of the day-to-day, Cannon-Brookes leaned into the external: ecosystem relationships, brand, and eventually big bets. For a founder raising capital today, the takeaway is not to bootstrap for 13 years, but to build a company that can operate without you in every meeting. That liquidity of time is what lets you run a parallel raise while the business scales. Capitaly's investor CRM and pipeline help you keep your conversations and follow-ups organized without losing a beat on product.

The Atlassian Origin Story

Atlassian was founded without any venture backing. The founders sold licenses to enterprise customers before they built the brand. That discipline produced a profitable, high-margin software company. When they did list, the market rewarded their capital efficiency. This is the right context for understanding why Cannon-Brookes can now write a $30 million check into a pre-revenue climate moonshot without breaking a sweat. He built the firepower first. Founders can learn from that sequence: raise only what you need, prove capital efficiency, and accrue agency for the future. Capitaly's 10 Fundraising Myths Founders Still Believe busts the idea that raising more earlier is always better.

How the Co-CEO Model Freed His Time

The dual-CEO structure at Atlassian is well documented. By splitting the role, each founder could focus on strengths. For Cannon-Brookes, that meant external engagement. He could afford to spend weeks on climate advocacy, board meetings at energy companies, and marathon negotiations with Australian politicians because the business did not rest solely on his shoulders. If you are the sole CEO and also the primary fundraiser, you need a system that runs in the background. Capitaly's deal room and document intelligence automate the diligence drudgery so you can show up sharp to meetings.

Key Takeaway for Founders: Patience Compounds

Cannon-Brookes played a long game. He did not rush to exit. He let Atlassian compound. The result is enough dry powder to place bets that can transform an entire energy grid. Patience in the context of a venture raise means not taking the first term sheet out of fear, and running a process where multiple investors compete. A tool like Capitaly's pipeline gives you that visibility.

Step 2: Formalize a Mission-Driven Family Office

Once Atlassian went public, Cannon-Brookes channeled a significant portion of his wealth into Grok Ventures. The family office has a clear mandate: invest in technology-driven solutions to climate change. Unlike many billionaire family offices that outsource allocation to funds, Grok runs a lean team that makes direct, often contrarian investments. Long-form reporting by Climate and Capital Media details how Grok blends venture, growth equity, and activist stakes.

Grok's deal team operates like a top-quartile venture firm: they source, diligence, structure, and manage portfolio companies. They don't just write checks. They run campaigns. When Grok took a position in AGL Energy, it wasn't a passive portfolio allocation. It was a coordinated move with partners to influence board decisions. This is a lesson for founders raising a round: treat your fundraise like an organized campaign. Map your targets, track every interaction, and move investors through a funnel. Capitaly for founders gives you exactly that workspace.

The Portfolio of Climate Bets

Grok's portfolio spans solar farms, battery storage, electric aviation, and software to optimize the grid. It includes massive infrastructure projects like Sun Cable and smaller startup investments. The common thread is a technology-first lens. Cannon-Brookes does not invest in sustainability branding; he invests in assets that can change the physical world. For an accelerator running a cohort of climate tech founders, Capitaly for accelerators helps you support multiple fundraisers without drowning in spreadsheets.

Pro Tip: Don't Just Write Checks, Run Campaigns

Pro tip: Treat each investment as a campaign with a clear goal. Grok's AGL stake was not a passive bet. It was an attempt to force a coal exit. Apply that campaign mindset to your raise. Identify your lead investor early, then build a parallel track of follow-on investor conversations so you close with momentum.

To run that kind of campaign, you need a central inbox that brings all investor emails into one place. Capitaly's central inbox and CRM does that.

Step 3: Use Activist Investing to Force Climate Action

Cannon-Brookes' most public climate move was the AGL Energy campaign. In 2022, he and a group of investors bought an 11.28% stake in AGL, Australia's largest power generator, to block a demerger that would have slowed its coal exit. The Guardian reported that the move was a shock to the utility's board. The Australian Financial Review examined his climate opportunity thesis earlier, showing he had been building the case for months.

Activist investing requires a rare mix of capital, public platform, and legal expertise. Cannon-Brookes had all three. He used social media, op-eds, and shareholder meetings to pressure the board. Eventually, the demerger was voted down, and AGL accelerated its decarbonization timeline. The lesson for founders is that pressure applied at the right point can change outcomes. In a fundraise, the pressure point is often an email update that demonstrates traction, followed by a polite follow-up that reminds an investor the round is filling. Capitaly's templates include sample investor update emails proven to convert.

The Coalition Playbook

Cannon-Brookes didn't act alone. He assembled a group of like-minded investors to reach the 11.28% stake. Similarly, a founder should build a coalition of angels, advisors, and early champions who can create social proof for a round. Track every warm introduction and the relationship's history. Capitaly's use cases for seed and Series A raises show how to map your network into a target list.

Warning: Activist investing invites intense media scrutiny and can alienate partners. It works only if you have genuine influence and a long-term capital base. In fundraising, an overly aggressive follow-up cadence can backfire. Use data to time your nudges. Capitaly's pipeline gives you last-touch visibility so you know when to reach out.

Step 4: Back Moonshot Infrastructure Projects

After the AGL victory, Cannon-Brookes doubled down on physical infrastructure. Sun Cable was the highest-profile example. The plan was to build a 4,200 kilometer undersea transmission cable to send solar power from Australia's Northern Territory to Singapore. The vision drew comparisons to the Snowy Hydro scheme. Reuters covered the developments as Sun Cable entered voluntary administration in 2023 following a funding dispute, before a consortium led by Cannon-Brookes rescued the project. 1.5°C Climate Media continues to track the project's revival and the broader corporate climate push.

Why bet on something so audacious? Because incrementalism will not solve the climate crisis. Cannon-Brookes understands that the energy transition requires new transmission, new generation, and new markets. A founder raising venture capital for a deep tech startup faces a similar challenge: you need investors who can see beyond the current product. When you manage your raise on Capitaly's deal room, you can attach technical documents, patents, and engineering reports so that serious investors can diligence the complexity.

Why Massive Engineering Bets Matter

Infrastructure assets, once built, produce predictable returns. Cannon-Brookes is not just a venture investor; he is an infrastructure owner. That hybrid approach gives Grok downside protection. If you are raising for a hard tech company, structure your data room to show the asset-heavy moat. Capitaly's document intelligence can extract and summarize key terms from your legal docs so you never miss a detail.

Lesson: Accept Failure as Part of the Portfolio

Sun Cable entered administration, a very public stumble. Cannon-Brookes did not walk away. He restructured the deal and remains its biggest backer. Founders often treat a soft pass or a no as terminal. The best fundraisers treat rejection as data, not defeat. Keep your pipeline alive. Capitaly's investor CRM lets you move investors through stages and revisit cold leads when your metrics improve.

Step 5: Keep Technology at the Core of Every Climate Bet

Cannon-Brookes' tech background means he never invests in a pure energy play without a data layer. Grok's portfolio includes energy software, EV charging management platforms, and grid optimization tools. These tech bets complement the physical assets. Bloomberg's reporting has highlighted how his Grok team hunts for the digital wedge inside the energy transition. For founders building in climate tech, this is the blueprint: pair hardware with software to create a defensible competitive advantage.

If you are an AI startup, Capitaly's own analysis of 10 enterprise AI startups most likely to IPO in 2027 shows how software can scale faster than physical projects. The lesson from Grok: don't choose between atoms and bits. Invest in both. When you pitch investors, articulate how your technology unlocks a physical asset. Use Capitaly's fundraising templates to structure a deck that pairs the technical moat with a clear go-to-market.

How His Tech Background Gives an Edge

Cannon-Brookes can speak engineering with founders. He understands software scalability, product-led growth, and enterprise sales cycles. That allows him to diligence tech bets faster than a generalist family office. Founders raising a round should look for investors who bring domain expertise, not just capital. Track the investor's background with Capitaly's CRM tags so you know who will truly add value.

Pro tip: Pair a deep tech climate bet with a software layer that makes the asset smarter. Cannon-Brookes often looks for the data play inside the physical project. When you pitch, lead with the software wedge that turns a commodity into a recurring revenue stream.

Step 6: Build a Personal Platform and Use It

Cannon-Brookes is not a quiet investor. He tweets, he gives TED talks, he writes open letters to prime ministers. That public persona is not a side effect; it is a deliberate part of the strategy. A large platform creates pressure that capital alone cannot. He used his Twitter following to rally shareholders against the AGL demerger and to shift public opinion on the energy transition. ABC News has run numerous segments on his advocacy and its impact on Australian energy policy. 1.5°C Climate Media examines how this brand of billionaire activism is reshaping the corporate climate narrative.

For a founder, building a personal platform means investors find you warm before you send the first email. A strong Twitter presence, a newsletter, or regular LinkedIn posts can bring inbound interest. When that interest lands, you need a place to capture it. Capitaly's central inbox funnels all investor correspondence, regardless of channel, into one workspace.

The Role of the 'Tech Bro' Persona

Some critics dismiss him as a "tech bro playing energy savior." But that persona, brash and direct, gives him a megaphone. Founders often worry about sounding too promotional. The truth is, quiet startups get ignored. Build a narrative. Then back it up with metrics. Capitaly's blog post on 10 Fundraising Myths Founders Still Believe addresses the myth that traction alone will sell itself.

If you are part of an accelerator, helping founders craft their public presence can be a force multiplier. Capitaly for accelerators provides a platform where each founder can manage their raise while your team tracks progress across the cohort.

Conclusion: How Founders Can Apply This Playbook to Their Own Raises

Mike Cannon-Brookes' approach is not replicable line for line; few founders will ever have his liquidity. But the underlying mechanics are universal: build capital deliberately, deploy it with discipline, use pressure points to change outcomes, marry technology with physical assets, and build a platform that amplifies your bets. Here are the key takeaways:

• Build a capital base first. Whether through bootstrapping, an early exit, or a well-structured round, get dry powder.
• Treat capital deployment like a disciplined operation. Run a campaign, not a casual outreach.
• Use targeted pressure points. Timely investor updates and well-timed follow-ups can unlock a term sheet.
• Blend technology with any physical asset to create defensibility.
• Build your personal platform. Investors back people they recognize.

Ready to run your raise with the same rigor? Start your raise on Capitaly and see how an AI-native workspace helps you find the right investors, manage your data room, and close the round. And subscribe to our blog for daily insights on fundraising and venture.