Monday, 7 August, 2023 - 09:28
Where is all the venture capital in WA?
While there is a lot of conversation about our economic uncertainty, it is also good to reflect on the massive companies that have been founded during recessions.
Derek Gerrard is the co-founder and managing director of venture capital firm Purpose Ventures, which helps organisations find & achieve their greater societal purpose. He is also chair of Meridian Global Foundation, a charitable investment and giving circle, and chair of digital health technology company Curve Tomorrow.
Mr Gerrard had previously co-founded consulting and corporate advisory firm Go Capital Australia, and Greensense which is a sustainability consultancy & technology provider and the preferred supplier of climate change consulting services to the local government sector.
He has been involved in advisory and board roles including as an entrepreneur-in-residence at Spacecubed's Plus Eight project. He was previously an entrepreneur-in-residence at RAC WA's Better Labs venture fund and was head of Innovation Bay in Perth, a not-for-profit networking group connecting people passionate about innovation, entrepreneurship and technology. Mr Gerrard also held senior management roles including as associate director of Change Corporation, project manager of Barclays Bank in London, and a management consultant at PwC.
He holds a Bachelor of Business in Information Systems from Edith Cowan University.
Mr Gerrard was the recipient of several awards including Business News' 40under40 Awards in 2011, WAITTA's Best Product award in 2012, iinet Innovator of the Year in 2013, and WAITTA's Achiever of the Year in 2019.
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While there is a lot of conversation about our economic uncertainty, it is also good to reflect on the massive companies that have been founded during recessions.
Sustainability monitoring and reporting software.
Sydney-based networking group Innovation Bay is expanding to Perth, aiming to give technology entrepreneurs a new pathway to attract seed capital from angel investors.
Tired of unproductive business meetings? GroupMap collects responses from individuals, combines them into a group view for discussion, prioritisation and decision making. It can be used for board and strategy meetings, staff consultation and anything in between.
Rapidly growing online booking company HealthEngine has gained backing from newly established private equity group Go Capital and carsales.com.au founder Greg Roebuck in its latest $5 million capital raising.
There are plenty of people who want success for the local startup scene, but fewer seem willing to commit to fund it.
Fundraising ‘giving groups’ Meridian Global Foundation, Impact100 WA and 100 Women are defying the economic slowdown, having raised a total of $1.1 million between them during the past three years.
Startup businesses in Perth have access to a new source of funding after the Royal Automobile Club of WA launched a $3 million investment fund last night, while also disclosing it is a substantial shareholder in fast growing blockchain business Power Ledger.
Two recent initiatives have created new funding options for startups and proprietary companies in WA.
The Royal Flying Doctor Service has been selected as Western Australia’s tech company of the year for 2019 with Robert Nathan, Derek Gerrard and Alerte Digital Health among other winners in the annual INCITE awards.
BetterLabs Ventures, RAC’s early stage seed fund, has become WA’s largest venture capital fund with the announcement last night it had expanded to $23 million.
Leaders from Perth’s investment community are urging startups to remain resilient during the COVID-19 pandemic, noting that ventures considered to be responding to the crisis will continue to receive funding.
Accelerator programs are a practical way to encourage the early-stage tech scene, putting fledgling startups through a three-to-six-month program of mentoring, and providing equity funding.
Perth giving circle Meridian Global Foundation has partnered with not-for-profit Medical Oxygen for All to help $1.1 million in fundraising reach India.
Perth gaming billionaire Laurence Escalante and US venture capital fund Dream Ventures have contributed to a $7 million capital raising by fast-growing local startup WeMoney.
Some of Perth’s most experienced venture capitalists are seeking to raise more than $100 million for startup investment.
Local venture capital is what fledgling entrepreneurs need.
Purpose Ventures, a new fund to invest in Western Australian startups, has raised at least $37 million, including a $10 million foundation investment from a major local entrepreneur.
Three new local funds proposing to focus on early-stage investment are raising expectations.
Newly launched investment fund Purpose Ventures has boosted its war chest to $45 million and made its third commitment, to a local education startup.
Perth-based startup fund Purpose Ventures has maintained its local focus, with its first $3 million fully invested in WA companies, the latest being pharmacogenomics company Gene S.
A new hub in the north-west is another step in building an innovation ecosystem in the region.
Perth-based Purpose Ventures has deployed almost 10 per cent of its $46 million fund in its first year of operations, including a recent top-up of its stake in startup PlanCare.
Venture Capital investment in Western Australia has significantly slowed, falling from $140 million in 2023 to $80 million in 2024, according to a new report.
Malcolm Steinberg’s philanthropic Malka Foundation extends the boundaries of enterprising education.
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Derek Gerrard is linked to 14 organisations which are included in 4 lists - Startup and SME Organisations and Programs, Philanthropic Foundations, Startups and Fund Managers.
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