A new venture capital fund aimed at funding cash-starved Australian medical, biotech and health technology start-ups has banked $40 million of a planned $200 million, as public valuations hit record lows.
Hashan De Silva, a biotech investor who cut his teeth as the first hire at private and public equity outfit Karst Peak, is hoping to take on cashed-up pharmaceutical giants as the first consolidation shoots begin to show.
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Jessica Sier is the North Asia Correspondent for The Australian Financial Review. She is based in Tokyo, Japan. Jessica has previously written on technology, global capital markets and economics. Connect with Jessica on Twitter. Email Jessica at jessica.sier@afr.com
