EVP's Misha Saul goes to ground as medtech StrongRoom AI collapses
One of Australia’s most outspoken investors has gone quiet after the first startup he invested in collapsed in a mire of controversy.
Eight months after announcing he was joining EVP to head its new opportunities fund — and just weeks after his first deal was announced — Misha Saul finds himself in a situation other venture capitalists have described as “your worst nightmare".
StrongRoom AI, a medication management software company and one of the fund’s early investments, has fallen into administration after the board concluded there were doubts about its solvency. The company’s collapse, just two weeks after a raise led by EVP valued it at $70 million, has been swift.
The collapse followed EVP’s withdrawal from the medtech company’s $17 million funding round and the fund's subsequent report to authorities regarding alleged financial discrepancies.
"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 at the time.
