VC fund pulls $2.5m from firm of former PwC boss Luke Sayers
US-based venture capital fund McLaren Strategic Ventures has cut its investment in the consultancy set up by former PwC Australia chief Luke Sayers by $2.5 million as part of a “capital reduction” approved by shareholders, according to documents lodged with the corporate regulator.
Sayers Group launched its new technology and platforms arm in partnership with McLaren to much fanfare in 2021. A spokesman said the firm was streamlining its operations because the market had “responded very well on the strategy [advisory] front but not around the bespoke [software] platform front”.
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