David Millhouse reporting that there was comment in the weekend press about the lack of a venture capital market in Australia. This is true in part. Most of the unlisted investment is leveraged buy-out private equity capital. Except that its mostly debt. There is a huge pool of venture capital. Problem is, its in government hands and is used to porkbarrel the electorate to win elections. Go to Federal websites and see how much taxpayer venture capital is (mis-) allocated to car manufacturing, "green"technologies etc. Most of this taxpayer venture capital will be wasted. Down the drain. Gone. Kaputt. At MillhouseIAG we were ranked very highly by the independent Private Equity Performance Monitor on a world scale for venture and private equity investing. If these returns were matched by the returns on this Federal Governments' profligacy, then tax rates could be lower for everyone.
David Millhouse
www.millhouse.co
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