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I agree wholeheartedly with the sentiment of this article, as someone who runs an up-and-coming software/game development company in Adelaide. However, how can
by pm 16y ago
I agree wholeheartedly with the sentiment of this article, as someone who runs an up-and-coming software/game development company in Adelaide. However, how can they reasonably ask why Atlassian sought outside investment from a US VC firm?
Over the past five years, I've encountered a small number of VC firms and partners in my area, and to be honest, I'm not impressed. You can wear a suit, you can talk big, but if I'm smart enough to call bullshit on you whatever you know, do you really think I want you to invest in my company?
Australian VC firms are full of shit. The only way we're ever going to support a proper angel investment culture is to grow companies ourselves, and reinvest our experience back into the community. It's a decade long project, but someone's going to do it.
- nl 16y agoYou're in Adelaide? I went to an Angles in SA meeting a couple of months back and found them generally clueful. I do think Renai has some reasonable points, but I think the argument is nuanced that he is stating. I think Atlassian is a world-class software company, and is looking at the world as a market, not the Australian market. I think than ambition means they needed world class VC. An Australian IPO remains possible, too. If it could get the $500M+ returns they need then there are advantages to an ASX float.