It’s no understatement to say the unfolding saga surrounding collapsed medtech StrongRoom AI has sent shockwaves through the Australian startup and venture capital ecosystems.
Last week’s extraordinary decision by Sydney venture firm EVP to call in the police on its newest portfolio company — a decision no investor would take lightly — kicked off a series of events that culminated in StrongRoom AI falling into administration on Friday.
This morning, Capital Brief’s Bronwen Clune explored the origins of EVP’s Opportunities Fund, which led a $17 million investment into the startup. The fund is overseen by Misha Saul, one of the most outspoken figures in the Australian investment community, whose profile as an investor is eclipsed by his highly provocative social media presence (Saul has now deleted his X account).
Saul, who was at Potentia Capital before EVP, now finds himself in a situation observers have described as a VC's "worst nightmare."
