Private equity firms will play a key role in Australia’s next generation of technology start-ups, providing funding, business strategy and connections, according to Dropbox Australia country manager, Charlie Wood.
Wood was a keynote speaker at the AMMA Private Equity Spring Conference and said there was a gap between an entrepreneur having a good idea and turning that into a successful company.
AMMA Private Equity sources and manages investment opportunities in the technology and mobile sectors. Its key investments include music streaming service Guvera, app development company AMMA Apps Investments, and sports portal Sportkix.
“In my experience as someone who has run two different start-ups in the enterprise social media space, I have found that there has been a lack of support available in Australia for entrepreneurs to drive their ideas forward,” he said.
“This support would come in the form of introductions to major domestic and international contacts, suggestions for business strategy, funding questions and the ability to help these ideas turn into sustainable companies.”
Rather than entrepreneurs reaching out to Silicon Valley, which Wood said was already inundated with people looking for help, they can build a successful start-up with the support of a private equity firm who not only raises capital but also takes a role in driving the company forward.
AMMA Private Equity CEO Paul Jansz said Australian technology start-ups, with the right support from private equity firms, had enormous potential to achieve growth, success and returns.
“One of the key issues that entrepreneurs struggle with is understanding where and how to fund
their million-dollar idea, and that’s where we come into the picture,” he said.
“In return, we are able to access some of the world’s most exciting pre-IPO investment opportunities and offer them to clients of our global accounting firm network.
“Australia has already proven its ability to contribute to the mobile and technology sectors, and
with the right support from private equity firms there’s no doubt our next generation of tech start-
ups can bolster our position as a global player.”
Representatives from more than 100 accountancy firms across Australia and Asia attended the annual conference, where AMMA also provided updates on its key technology and mobile investments.