Fintech founder: Aussie startup scene hurt by local VCs’ actions.

This article focuses on the opinion of Ben Zyl, the CEO and co-founder of fintech company Waave, who argues that local venture capitalists (VCs) in Australia are undermining the success of local startups. Zyl suggests that VCs are making it difficult for startups to raise capital by deploying very little funding into local startups and instead propping up larger companies. He also criticizes VCs for having a narrow view of what they consider investable and for cycling their investments in 3-5 years, which he believes may lead to artificial growth. Zyl argues that startups should be cautious when working with VCs and to understand their investment cycles and portfolio of investments. He believes that startups should not be reliant on VC funding and instead should focus on responsible planning and measured growth. Zyl calls for greater support and collaboration between governments, VCs, and startups to drive the success of the tech sector in Australia.

Key Points:

• Ben Zyl, CEO and co-founder of fintech company Waave, believes that local VCs in Australia are undermining the success of local startups.
• He argues that VCs are deploying very little funding into local startups and instead focusing on larger companies.
• Zyl criticizes VCs for having a narrow view of what they consider investable and for cycling their investments in 3-5 years.
• He calls for greater support and collaboration between governments, VCs, and startups to drive the success of the tech sector in Australia.