As collaborative investors how can we grow and protect our founders?
Over the last 15 years, we’ve missed two cycles of investment returns and it’s only when great ventures succeed, that investors see the return on their capital, from which they reinvest again.
We’ve also missed the knowledge growth that comes with that. The founders who know how to build great ventures, the teams that have been on that journey with them. The US called them ‘Facebook millionaires’. When that value was unlocked, they went out and started out hundreds, perhaps thousands of other new ventures.
In the last decade, we have seen a few successes in Australia, such as Hitwise and Atlassian, and you could probably rattle off a half a dozen others that are really good. We often hang our hat on those. But there are no great “Seeks”, or “Carsales” or “REA group”. The successes are small relative to our GDP, so is that really good enough?
Have we missed the window of opportunity?
Jamie Pride, Kathryn Sforcina