We recently sat down with Mahesh Muralidhar to hear how he went from scaling Canva to backing NZ’s next billion dollar startups. Mahesh shared lessons from his journey at Canva and why he believes Kiwi founders can create globally significant businesses too.
The Canva Growth Story
Mahesh joined Canva when it was worth just $20 million, working as employee number 25. Today, it’s a company with 4,000 staff and a valuation of $40 billion. Reflecting on his time there, Mahesh described scaling Canva as one of the coolest experiences of his life. He spoke about the constant chaos of hypergrowth – from running out of meeting rooms and laptops to seeing a young founder like Melanie Perkins build her vision into reality.
That vision started with Fusion Books, Canva’s predecessor for high school yearbooks, laying the groundwork for what Canva would become. Mahesh emphasised that scaling Canva wasn’t accidental – it was fuelled by relentless customer obsession, crazy ambition, and founders who operated at an Olympic level in commerce.
Backing NZ’s Next Billion Dollar Startups
After his Canva journey, Mahesh returned to New Zealand with a mission: to make the country happier and more prosperous. He believes this requires high-productivity jobs and bold founders willing to think globally. Through Phase One Ventures, Mahesh has been backing NZ’s next billion dollar startups by providing strategic support to early-stage founders. His goal is to see six unicorns emerge from this community, transforming the local economy.
He noted that Kiwi founders often don’t realise their own power or potential for scale. By focusing on customer obsession and global ambition, he believes New Zealand can build its own “Canvas” and create the jobs and growth needed for a better future.
Lessons on Ambition, Culture, and Giving Back
Mahesh also shared insights on why New Zealand sometimes struggles with scale. He highlighted the impact of tall poppy syndrome, our lack of role models compared to countries like Australia or the US, and the importance of creating policies that encourage founders to build and stay here.
However, Mahesh remains optimistic. He sees Kiwi founders as streets ahead when they reach the US market because they’ve had to operate leaner and smarter from day one. His story of scaling Canva and his dedication to backing NZ’s next billion dollar startups are reminders that with the right mindset and support, bold ambitions can become reality.
Mahesh’s Vision for New Zealand’s Future
For Mahesh Muralidhar, building Phase One Ventures is just one part of a much bigger mission. He wants to make New Zealand a happier and more prosperous place, driven by a two-step approach: achieving 5% GDP growth each year to create high-productivity jobs, and using that growth to strengthen social cohesion.
His vision goes beyond venture capital. Having already run for Parliament once, Mahesh plans to put his hand up again. For him, politics is another tool to drive impact at scale, grounded in his belief that everyone deserves the chance to thrive. As he put it, New Zealand gave him the space to fail, learn, and grow – now, he wants to repay that by building a future where more Kiwis can do the same.
Key Takeaways
- “You don’t understand how powerful you are.”
Believe in your potential – it’s greater than you think.
- Customer obsession beats everything.
Spend 12-18 months deeply understanding your customer before building.
- Crazy ambition is the starting point.
Don’t think small – bold visions create billion dollar outcomes.
- Go where you’ll grow.
In your 20s and early 30s, choose the paths that challenge and stretch you.
- Ask for feedback – often.
Stay humble and keep learning from those around you.
Next Steps:
Learn more about Phase One Ventures here
Ever wanted your own financial adviser? James is picking one listener to coach for a whole year – apply now and you might just star on the podcast too. Apply here!
If you’d like to learn more, check out these other episodes below.
For a no obligation discussion to see how we can help you on the path to wealth, please contact us.
Disclaimer:
The information in this article is general information only, is provided free of charge and does not constitute professional advice. We try to keep the information up to date. However, to the fullest extent permitted by law, we disclaim all warranties, express or implied, in relation to this article – including (without limitation) warranties as to accuracy, completeness and fitness for any particular purpose. Please seek independent advice before acting on any information in this article.
