Morgan Stanley urged jobs site Seek to make major changes to its disclosure around the $2.3 billion venture capital fund on its balance sheet, given some investors are treating its VC interests as effectively worthless.
Seek’s co-founder, Andrew Bassat, runs the Seek Growth Fund as its chairman and chief executive. It was spun out of the larger company three years ago and Seek still retains an 84 per cent equity interest.
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Nick Bonyhady is a technology writer for the Australian Financial Review, based in Sydney. He is a former technology editor, industrial relations and politics reporter at the Sydney Morning Herald and Age. Connect with Nick on Twitter. Email Nick at nick.bonyhady@afr.com
Tom Richardson writes and comments on markets including equities, debt, crypto, software, banking, payments, and regulation. He worked in asset management at Bank of New York Mellon and is a member of the CFA Society of the UK as a holder of the Investment Management Certificate. Connect with Tom on Twitter. Email Tom at tom.richardson@afr.com
