Today
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
‘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.
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.
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
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.
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.
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 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 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 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.
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.
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.
ASX sinks; Obesity is costing a fortune; Trump has no cunning plan
Read everything that’s happened in the news so far today.
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’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.
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.
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 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.
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.
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.