Superannuation funds are facing growing calls to stump up more of their fast-growing $3.9 trillion wealth funds into early-stage tech, as local venture capital continues to lag behind that of the United States.
But the longest serving director of AustralianSuper, the country’s largest superannuation fund and one of the sector’s biggest startup investors, says the super funds are not well structured for this kind of activity, nor is the sector any good at it.
At the first Semiconductor Australia conference in Sydney on Thursday, deep tech companies, tech industry associations and leading brokerage firms all made the case for superannuation firms to play a bigger role in deep tech financing.
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