The nation’s top venture capital firms and entrepreneurs say tighter access to financing has slowed deal making and allowed for proper due diligence, creating more opportunities for “real businesses” that can prove they are on a path to profitability.
“The tier-one businesses are still getting funded, and there is actually available capital out there, but the next level down businesses might struggle a bit,” said Michelle Deaker, founding partner of OneVentures, which has more than $600 million invested in start-ups.
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Mark Di Stefano is Rear Window columnist, based in the Sydney newsroom. He previously worked at BuzzFeed, the Financial Times and The Information before joining the Financial Review as a media and tech correspondent. Connect with Mark on Twitter. Email Mark at mark.distefano@afr.com
Paul Smith edits the technology coverage and has been a leading writer on the sector for 20 years. He covers big tech, business use of tech, the fast-growing Australian tech industry and start-ups, telecommunications and national innovation policy. Connect with Paul on Twitter. Email Paul at psmith@afr.com
