NewsBite

Rear Window

Joe Aston

For Blue Sky, plausibility remains illusive

Joe AstonColumnist
Updated

Subscribe to gift this article

Gift 5 articles to anyone you choose each month when you subscribe.

Subscribe now

Already a subscriber?

So Blue Sky Alternative Investments is back in the market raising another US$17 million of venture capital on a promise of a 40 per cent internal rate of return. Hey, why not 60 per cent? It's just a magic number. Frankly, anyone left on Blue Sky's mailing list deserves whatever their savings get.

This latest money – I mean, seriously, David Brent couldn't announce this with a straight face – will purchase an Indonesian payment platform for 7 million users "without access to debt". Yes, when the market is laughing aloud at you, why not launch an audacious bid for a market-trailing fintech in a developing nation with flimsy property rights? Outstanding! If this raising is subscribed without lien on Mark Sowerby's surfboard collection, we'll be honour-bound to quit our jobs and spend the rest of our lives installing saliva IQ tests outside Queensland voting booths.

Loading...
Joe Aston helmed The Australian Financial Review's Rear Window column from 2012 to 2023. Connect with Joe on Facebook and Twitter.

Subscribe to gift this article

Gift 5 articles to anyone you choose each month when you subscribe.

Subscribe now

Already a subscriber?

Read More

Latest In Companies

Fetching latest articles

Most Viewed In Rear window

    Original URL: https://www.afr.com/rear-window/for-blue-sky-plausibility-remains-illusive-20180528-h10ni2