Venture Capitalists Are Shunning The Sun Of The Gold Coast To Get Closer To The Money In Melbourne

Sunbathing in Melbourne. Craig Sillitoe/Getty Image

The money men who back some of the big and small projects in Australia have given up their annual pilgrimage to the sun to be closer to the sources of their funds.

Australia’s private equity and venture capitalists open their two-day annual conference in Melbourne today, a long way from their traditional Gold Coast bash.

The 22-year-old AVCAL (Australian Private Equity and Venture Capital Association) conference is at capacity with 450 delegates.

And the new CEO Yasser El-Ansary is all about building stronger links to business.

He acknowledges that moving to Melbourne from the Gold Coast was something of a risk but the event at Melbourne’s Docklands has sold out.

The theme of the conference is Building Better Businesses. Being in Melbourne means attendees are closer to a prime source of funds, the big superannuation funds, many of who will be speaking at the two-day conference.

“You will be hearing from a number of business leaders and business founders, who will all speak to their journey, and the role that our industry has played in guiding them over the years next year there will be more capacity,” El-Ansary says.

“The number of Australian businesses supported by private equity and venture capital is significant; the list of businesses supported by investment from our industry is extremely impressive.”

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