Industry super funds are leading a march back into Australia’s venture capital sector, striking a third big funding deal in a week and stoking hopes that the investment firms that fund the next generation of Australian tech start-ups are recovering from a protracted downturn.
Hospitality workers’ super fund Hostplus – for a long time the biggest backer of the Australian private tech sector – has signed off on a $125 million investment in a Sydney fund that backs university-founded start-ups, just days after other major local tech funds Airtree Ventures and Virescent Ventures closed $650 million and $125 million raisings respectively.
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