In the early stages of lockdown members were concerned about the impact of
travel restrictions on their capacity to continue to raise new capital from
investors around the world, however, as the boundaries of the pandemic
became clearer, firms adapted to new, efficient ways of doing business and
to continue to engage with their investors.
As a consequence of COVID-19 fundraising in the first quarter of 2020
slowed down, but it never stopped. In adapting to the new environment, the
industry has found ways to use digital technology to meet with their teams,
with investors and portfolio companies around the world, and has engaged
advisers to help with due diligence processes where necessary.
To effectively capitalise on Australia's comparative advantage, the Council
believes the nation’s recovery must be underpinned by technology as an
enabler of economy-wide productivity growth and job creation, by developing
industries where Australia is, or could be, a world leader; and supporting
Australia’s entrepreneurs and fast-growth businesses to create Australia’s
next generation of world leading businesses. Private capital investment is
an important catalyst in driving those outcomes.