'Deeply concerned': EVP calls in police on medtech play StrongRoom AI
Sydney venture capital firm EVP has taken the extraordinary step of contacting authorities to investigate one of its own portfolio companies over "alleged activity".
Sydney venture capital firm EVP has taken the extraordinary step of contacting the police to investigate one of its own portfolio companies, medtech startup StrongRoomAI, less than a fortnight after it announced a $17 million funding round.
In a statement provided to Capital Brief, EVP said it contacted authorities in an attempt to recoup the millions it invested into StrongRoom AI as a result of unspecified developments at the company.
"EVP is deeply concerned about recent developments regarding one of its investment companies and we have taken immediate action including notifying law enforcement and pursuing all available avenues to recover the investment," a spokesperson told Capital Brief.
EVP declined to state what those developments were, only referring to it as "alleged activity".
