Matt Berriman says the recent correction in valuations of private companies makes it a great time to launch a new VC fund, where he can help early-stage growth.
Matt Berriman says he and his fellow partners have a wealth of experience and contacts to share with start-ups, in addition to dollars.He was the public face of a recently rejected bid to buy out Australia’s Super Netball competition, but his main focus has been on compiling funds and partners for his new venture, which will be known asAlongside Mr Berriman, who will be managing partner of RealVC, will be investment partners Martin Dalgleish and Paul Saunders.
“While other Australian funds say they are happy to invest in seed companies, a lot of founders I have spoken to say it is very frustrating to deal with them, as none of them will lead a round, and will just offer up $250,000 to $500,000 to give themselves an option of buying more later if the company survives.”
He said he and the partners were all keen to take extremely active roles in the companies they backed, and had learned from personal experience how unfavourable VC terms and investor behaviour could harm a start-up’s performance.
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