How Australian deep tech is catching the interest of offshore venture capital
Silicon Valley’s DCVC sees growing opportunity in Australia's deep tech startups, citing strong universities and a vibrant startup ecosystem. It isn't alone.
Australian startups have a strong reputation overseas for being incredibly capital efficient — a fact that is increasingly appreciated by international investors as the hangover from the era of easy money lingers.
“Growth at all costs” is no longer the catchcry of Silicon Valley, which is adapting to market conditions that Australian startups have had to survive for years, where capital has not flowed as freely.
Jayme Kwek, principal at Singapore-based Prosus Ventures, told Capital Brief last week that the fund is actively monitoring the Australian market for startup investment opportunities. He highlighted consumer and deep tech as two areas of interest.
But Kwek is not alone in his conviction, particularly in the areas that have caught his attention. Australian deep tech — a sector that has traditionally found it harder to secure local funding due to the high costs often needed to get started — is emerging as a crowd favourite among offshore VCs.
