Leading entrepreneurs and two major superannuation funds will combine forces to launch Australia's biggest-ever technology start-up venture capital fund, with more than $200 million set aside to back growing companies. The new fund will be managed by Blackbird Ventures and has been backed by 96 technology entrepreneurs including Atlassian co-founder Mike Cannon-Brookes, as well as two major superannuation funds, First State Super and Hostplus Super. It will target tech companies that would previously have headed overseas in search of bigger investments, and will exclusively back Australian companies. AFR subscribers can read the full article here (VIEW LINK)
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Great to see big super funds putting a meaningful amount into new businesses. This is a tiny drop of their assets but very significant for the start ups they back. So refreshing to see this level of conviction from some big super funds