Technology

US tech giant Salesforce creates a $50m Australian VC fund to back start-ups

Yolanda RedrupRich List editor

Mar 4, 2019 – 11.00pm

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US customer relationship management software giant Salesforce has become the latest multinational to pledge investment in Australia's rapidly growing tech ecosystem, with a $US50 million Australia Trailblazer Fund run by its division that previously backed companies including Dropbox, Twilio and Box.

The fresh investment comes a week after three other large global tech firms, Cisco, Equinix and Zoho, announced they were pouring multimillion-dollar sums into their local operations, with the Salesforce plan taking the total committed in Australia during the last week to just under $380 million.

Yolanda Redrup is the editor of the AFR Rich List. She previously reported on technology, healthcare and Street Talk.