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Venture capital

Today

Nick Murphy founder and CEO of GenEmbryomics

Australian IVF screening start-up pulls Nasdaq IPO, blames US tariffs

The company has developed a test to screen embryos for thousands of genetic diseases in the In Vitro Fertilisation process.

Yesterday

Grattan Institute CEO Aruna Sathanapally: “Pokies are more common in our suburbs than post boxes, ATMs or public toilets, and they are concentrated in our poorest neighbourhoods.”

‘Seatbelt’ needed for pokies and online gambling

Grattan Institute CEO Aruna Sathanapally says no one should lose their house or life gambling – and the harm is preventable.

Pharmacy software entrepreneur Joe Zhou looks likely to be a future owner of the StrongRoom brand. The credit cards of the start-ups’ founders Max Mito and Christopher Durre have been subpoenaed.

StrongRoom buyer speaks out as founders’ credit card records subpoenaed

Subpoenas have been issued to two financial institutions to produce all documents affiliated with accounts held by StrongRoom’s co-founders since January 2022. 

PropHero co-founders Pablo Gil Brusola (left) and Mickael Roger.

Bailador-backed PropHero guts local operations despite $100m valuation

Emails between executives show serious unhappiness as the real estate investment start-up’s founders take the axe to local teams and move operations to Spain.

This Month

Zero Co founder Mike Smith has announced the ambitious start-up will close next Wednesday.

Green start-up backed by billionaire Scott Farquhar, Square Peg shuts down

Sustainable packaging company Zero Co, backed by prominent investors, will close next week after failing to overcome production problems.

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Future Group founder Simon Sheikh.

Insignia, Zurich offload sub-scale super funds to Future Group

The retirement savings fund is run by former GetUp director Simon Sheikh and told its investors the deals would generate more than $6 million in new revenue.

Expat Sydneysider Max Marchione is attracting big name backers since relocating to San Francisco to build Superpower.

Meet the 24-year-old Australian behind a $300m US start-up

Max Marchione moved to San Francisco to start Superpower and capitalise on the US’ under-resourced healthcare sector.

StrongRoom AI’s co-founders Max Mito and Christopher Durre pictured with EVP’s Misha Saul (left).

StrongRoom AI nears sale with debts transferred to entrepreneur

The pharmacy software start-up called in administrators after its biggest investor, venture capital firm EVP, alleged it had misrepresented its finances.

OneVentures co-founder Michelle Deaker.

OneVentures preps new healthcare fund as government, LPs face losses

The horror show that Michelle Deaker and her chargers must lose sleep over is the $170 million Fund III raised in 2016. The $139 million it invested is now worth just $71 million.

StrongRoom’s Max Mito (middle) and Christopher Durre with EVP’s Misha Saul (left) last month.

StrongRoom AI boss denies investor claim he admitted to fraud

But lawyers for the start-up’s venture capital backers questioned how founder Max Mito could pay for his expensive legal bills if he had such few assets.

Harrison.ai co-founders and brothers Dimitry (left) and Aengus Tran raised $179 million in December, the biggest  deal of the quarter.

Start-up valuations increase but tech investors brace for Trump disruption

New data shows VC firms have invested about $1 billion in 100 start-up deals so far this year, but recession fears and market uncertainty is spooking investors.

Pacific Partners founder Clayton Larcombe.

Clayton Larcombe respawns as a Middle East AI investor

The former Sydney funds manager landed on the cover of CEO Middle East magazine to launch his new career.

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ASX sinks; Obesity is costing a fortune; Trump has no cunning plan

Read everything that’s happened in the news so far today.

Katherine Tobias and Matthew Bailey, co-founders, InsightWise.

Ex-KPMG consultant lands global VC funding for AI start-up

California-based venture capital firm Aliavia Ventures and No Brand Holdings led InsightWise’s $1 million oversubscribed pre-seed round.

Chris Hadley founded Quadrant in 1996 and has since raised more than $10 billion across 15 funds.

Chris Hadley’s Blackbird Ventures windfall

Sources told this column the private equity bigwig tipped in a fair chunk to Blackbird’s first-ever raise via his family trust.

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StrongRoom AI attracts 10 prospective buyers despite dire finances

The near insolvent pharmaceutical start-up has made 23 of its 45 staff redundant after requests from interested parties to reduce its costs, administrators say.

Matildas star Sam Kerr is among the sportspeople investing in tech start-ups through Athletic Ventures.

Sports stars Sam Kerr, Pat Cummins, Dylan Alcott back tech VC fund

A venture capital firm backed by 100 of Australia’s biggest sports stars has closed its first fund after raising $25 million in three months.

StrongRoom’s Max Mito (middle) and Christopher Durre with EVP’s Misha Saul (left) last month.

StrongRoom AI’s latest financials herald big losses for its investors

Sources said StrongRoom AI’s updated balance sheet lists $14 million in assets, about half of which is StrongRoom AI’s investment in loyalty programs business Members Benefit Australia at $7.5 million.

Strongroom founders Max Mito (right) and Christopher Durre (middle) with EVP’s Misha Saul on March 13.

Venture capital firm EVP was right to call the cops on StrongRoom

EVP committed venture capital heresy by reporting StrongRoom AI to the police. It angered fellow investors but has shown moral courage rather than selfishness.

Max Mito’s business trip to luxury villas in Morocco was a red flag to finance staff. EVP’s Misha Saul called in the cops after investing.

From a Moroccan villa to the courtroom: how StrongRoom AI’s good times went bad

Court filings that allege fraud at the tech start-up paint a picture of company funds being used to fund a lavish lifestyle of foreign trips and fine dining.

Original URL: https://www.afr.com/topic/venture-capital-1n1u