Start-ups seeking major investment are facing “warzone” conditions, with the situation potentially set to worsen due to the European debt crisis, a leading venture capital partner has warned.
Mark Harvey, partner at Brisbane-based CM Capital, says that the funding situation for new ventures remains bleak following the global financial downturn.
“There is very little VC money out there for start-ups at the moment,” he says..
“A couple of small funds have been raised with government support, but no large fund has been raised without government support in three years.”
“Entrepreneurs who say they can’t get money are right. It’s a warzone out there at the moment.”
To read the full, original article click on this link: Venture capitalist says European debt crisis will hit start-up funding
Author: Oliver Milman
