James Spenceley Explained

James Spenceley
Birth Place:Sydney, Australia
Occupation:Venture capitalist, entrepreneur
Office1:Councillor of North Sydney Council
for St Leonards Ward
Term Start1:4 December 2021
Term Start2:5 October 2024
Party:Independent

James Roland Travers Spenceley is an Australian investor, entrepreneur, company director, and politician. He is the founder of Vocus Communications and an active venture capital investor. He was a seed investor in Airtasker in 2012, and was chairman of the board from 2015 until 2023, when he resigned his position in order to concentrate on his humanitarian aid organisation Aus Ukraine Aid. In December 2021, Spenceley was elected in first position as a councillor for St Leonards Ward of North Sydney Council, and was re-elected in October 2024.

Early life and education

James Roland Travers Spenceley[1] was born in Sydney, Australia.

Career

Vocus

Spenceley is most widely known for his role as the founder and former CEO of Australia's 4th largest fixed line telecommunications company Vocus Communications.[2] On 25 June 2021 Vocus was acquired by Macquarie Infrastructure and Real Assets (MIRA) and Aware Super for $3.5 billion.[3]

Spenceley started Vocus in September 2007, when he sold his house to initially fund the business. The company listed on the Australian Stock Exchange (ASX) in 2010.[4] When he stepped down as CEO of Vocus in March 2016 the company had revenues of greater than $1.8 billion.[5]

Illawarra Hawks

Spenceley purchased the Wollongong Hawks (now Illawarra Hawks) NBL basketball team in July 2014 right before the start of the 2014/2015 season.[6] In October 2014, he laid out his plan to win a Grand Final within 3 years.[7] The team finished last in the 2014/2015 season, 4th in the 2015/2016 season and was runner up in the 2016/2017 season losing in the Grand Final to the Perth Wildcats.[8] In February 2018, Spenceley announced he had sold his interest in the Illawarra Hawks.[9]

Other ventures

Spenceley was a seed investor in Airtasker in 2012, and was chairman of the board from July 2015 until June 2023.[10]

Spenceley is an active venture capital investor.[11] he had investments in Beforepay; the meal kit delivery service Marley Spoon; the online and indoor vertical farming startup Sustenir; and several other businesses.[12] he was on the boards of Kogan.com and Swoop Telecom.[10]

In early 2021 the Australian Financial Review reported that Spenceley was preparing to list the wireless Telco Swoop Telecom[13] on the ASX with the backing of Tattarang, the family office of Andrew Forrest. The business listed on the ASX under the code SWP, raising $20m[14] and was up 150% on its first day of trading.[15]

Politics

Spenceley announced in June 2021 that he was running as an independent for a position on North Sydney Council at the upcoming local government election.[16] At the subsequent election held on 4 December 2021, Spenceley was elected in first position as a councillor for St Leonards Ward of North Sydney Council.[17]

He was re-elected on 5 October 2024, as one of five selected from 20 candidates.[18] [19]

Other activities

In 2017 and 2018 he was a national judge for the Australian Ernst & Young Entrepreneur of the Year Award.[20]

He stepped down from his position as chair of the Airtasker board in mid-2023 in order to focus on the humanitarian organisation which he had founded, Aus Ukraine Aid. The organisation focuses on aid to Ukrainians affected by the Russian invasion of Ukraine.[10]

Recognition and rankings

Personal life

Spenceley's wife is Ukrainian.[10]

Notes and References

  1. Web site: JAMES SPENCELEY . New South Wales Electoral Commission . 14 September 2024 . https://web.archive.org/web/20240914053924/https://elections.nsw.gov.au/candidatewebpage/getcandidatefile?NominationId=YjNmMDg5YTYtZjA4OC00MDQwLTkwZTQtOGI3ZWY3MWJjZTdl&pdfName=JAMES_SPENCELEY_C_NORTHSYDNEY_STLEONARDSWARD_CIS_CWP#toolbar=0 . 14 September 2024 . 16 August 2024.
  2. News: Ramli. David. 2015-09-28. Vocus to merge with M2 to create $3 billion telecommunications titan. en-US. The Sydney Morning Herald. 2017-11-28. 29 August 2017. https://web.archive.org/web/20170829084657/http://www.smh.com.au/business/markets/vocus-to-merge-with-m2-to-create-3-billion-telecommunications-titan-20150927-gjw4jg.html. dead.
  3. Web site: Vocus set to be acquired by MIRA, Aware Super after court nod. 2021-08-06. CRN Australia.
  4. News: Meet the boss: Vocus founder James Spenceley. White. Sue. 2016-02-20. The Sydney Morning Herald. 2017-11-29. en-US.
  5. Web site: CMO50 2016 #9: Jon Amery, Vocus. CMO Australia. en-au. 22 June 2018.
  6. News: It's official: James Spenceley takes on Wollongong Hawks. KEEBLE. TIM. 2014-07-14. Illawarra Mercury. 2017-11-28. en.
  7. News: Spenceley lays platform for a new Hawks era. 2014-10-09. Illawarra Mercury. 2017-11-28. en.
  8. Web site: Resilient Illawarra Hawks prove pundits wrong to make NBL grand final . ABC News . 22 June 2018 . en-AU . 24 February 2017.
  9. News: Illawarra Hawks owner James Spenceley sells club. Mee. Cameron. 2018-02-06. Illawarra Mercury. 2018-05-28. en.
  10. Web site: Thomsen . Simon . Veteran tech director Cass O'Connor to chair Airtasker as investor James Spenceley steps down to focus on humanitarian work . Startup Daily . 2 June 2023 . 17 November 2024.
  11. Web site: Telco boss turned fund manager James Spenceley on small caps investing . Financial Review . 22 June 2018 . 11 December 2017.
  12. Web site: Dailytelegraph.com.au. Daily Telegraph. subscription. 2018-08-01.
  13. Web site: 2021-02-17. Twiggy, Spenceley cut deal to float telco play Swoop. 2021-05-04. Australian Financial Review. en.
  14. Web site: 2021-05-26. Swoop chairman James Spenceley on today's IPO, Airtasker's Zaarly play and his life as an ASX telco director. 2021-08-06. Stockhead. en-US.
  15. Web site: Dailytelegraph.com.au Subscribe to The Daily Telegraph for exclusive stories. 2021-08-06. en-AU.
  16. Web site: Usher. Anna. 2021-06-21. Rich Lister James Spenceley throws hat in the ring for upcoming local elections.. 2021-08-06. Mosman Collective. en-AU.
  17. Web site: North Sydney - St Leonards Ward. NSW Local Council Elections 2021. NSW Electoral Commission. 22 December 2021.
  18. Web site: North Sydney St Leonards Ward . Councillor Election results . 17 November 2024.
  19. Web site: Councillors . North Sydney Council . 17 November 2024.
  20. Web site: EOY Judging. Ey.com. en-au. 2017-11-29.
  21. Web site: Dailytelegraph.com.au . The Daily Telegraph. 2018-07-23. subscription.
  22. Web site: Vocus founder James Spenceley inducted into CommsDay's Hall of Fame Telecom Industry Awards . 22 June 2018 . en.
  23. News: 2016-10-28 . BRW Young Rich 2016 . 2017-11-28 . Financial Review . en-US.
  24. Web site: EY.
  25. News: Why you should hire crazy, smart people. 2015-05-08. Financial Review. 2018-05-29. en-US.
  26. Web site: Young Rich 2013: 81. James Spenceley . Financial Review . 22 June 2018 . 29 November 2013.
  27. Web site: Douglas . Jeanne-Vida . Tech kings dominate BRW Young Rich . The Sydney Morning Herald . 22 June 2018 . en . 21 September 2011.

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