Seek co-founder and prominent venture capitalist Paul Bassat has outlined the path Australia’s venture capital scene must take in order catch up to the likes of the US, describing some of Australia’s processes as “clunky”. and slow”.
Mr Bassat, who founded online job search website Seek in 1997 with brother Andrew, told the ADC Future Summit in Melbourne that advanced start-up markets like the US and Israel have clear rules and processes around investing, something that has yet to happen here.
