Australian venture capital firms face a battle for their future

Australian venture capital firms face a battle for their future, as the superannuation sector weighs up less risky options. Many in the market are looking to super funds to bankroll the next generation of ventures, but hope is fading as the biggest VC-backer Hostplus reveals it will reduce, rather than expand the number of firms it backs.

On Tuesday, stalwart Sydney-based VC firm OneVentures became the latest to toss its hat into an increasingly crowded capital raising ring, announcing the opening of its seventh fund aiming for $200 million.