'A real loss': Australian VCs mourn Ed Husic’s cabinet exit
As minister for industry and science, Ed Husic helped design the $15 billion National Reconstruction Fund and advocated for the government's investment in PsiQuantum.
Investors at Australia’s largest venture capital firms are mourning the loss of Ed Husic, who on Thursday lost his post as minister for industry due to internal Labor Party horse trading.
While some of his policies attracted criticism over the years, investors at Airtree, Blackbird and Main Sequence highlighted Husic as a rare minister who genuinely championed the innovation sector.
"His departure is a real loss," said Airtree partner Craig Blair. "His deep engagement has shown that he understands our issues, and what Australia needs to stay competitive."
After his appointment in 2022, Husic’s key role was to shape and integrate the National Reconstruction Fund (NRF), a $15 billion investment vehicle designed to boost Australia’s advanced manufacturing and deep tech industries.
