Gen Y tech investor, Michael Frazis is pushing into venture capital investment after purchasing a 10 per cent stake in the software start-up, Caresquare.
According to AFR, Frazis – son of former Bank of Queensland boss George Frazis – has now invested around three quarters of $10 million raised from 65 high-net-worth investors and associates across 12 early-stage start-ups in the software, healthcare, and e-commerce spaces.
The University of Oxford graduate and investor located in Tamarama, Sydney, also operates the Frazis Capital fund, which invests in international equities with an emphasis on high-growth software enterprises, resulting in rollercoaster returns for investors due to the sector’s huge fluctuations.
“At the moment, I think the best opportunities in VC are at the company formation stage where we can take a meaningful stake as the first investor and structure favourable win/win deal terms, ideally after the first revenues and proof of commercial traction,” Frazis said.
“The latest artificial intelligence has also made coding more efficient. We can build MVPs [minimum viable products] at a fraction of the cost [of] a year ago.”
Source: AFR