Billionaire Atlassian co-founder Mike Cannon-Brookes has warned individual investors about the risks of putting money into early-stage technology companies, and criticised the growing breed of middlemen siphoning money away from start-ups.

Mr Cannon-Brookes – who has invested tens of millions of his personal wealth in venture capital funds and direct equity stakes in start-ups – criticised the use of "backdoor listings" by emerging tech firms, expressed caution about the merits of equity crowdfunding and railed against consultants preying on inexperienced entrepreneurs.