Super funds back biggest-ever Australian tech venture fund worth $200 million | afr.com
This is certainly great news for the Australian tech start-up industry. It also shows great faith in what is to come out of the Australian tech sector in the coming years.
Leading entrepreneurs and two major superannuation funds will combine forces to launch Australia’s biggest-ever technology start-up venture capital fund, with more than $200 million set aside to back growing companies.
The new fund will be managed by Blackbird Ventures and has been backed by 96 technology entrepreneurs including Atlassian co-founder Mike Cannon-Brookes, as well as two major superannuation funds, First State Super and Hostplus Super. It will target tech companies that would previously have headed overseas in search of bigger investments, and will exclusively back Australian companies.