You have to wonder at how far the world has turned on its axis when Israeli venture firms are arriving in Australia to raise money. This seems counterintuitive. The most interesting of these companies is the crowd-platform VC called iAngels.
Fifteen years ago there was basically no venture capital in this country. It had been all but killed off by the dotcom bust. It’s not like there was no money in Australia 15 years ago. It’s just that that money had little interest in tech investment.
And although there’s been some big dollars raised by Australian funds in the past 18 months – closing on a billion dollars – the sector had been on life support for the preceding decade.
Read the article by James Riley on InnovationAus.com