Andrew and Nicola Forrest are backing a new Perth-based venture capital fund. Tenmile is a dedicated health technology investment business owned by Tattarang, one of Australia’s largest private investment groups. With an initial capital allocation of $250 million, Tenmile can act fast and with confidence, investing without the constraints of most venture capital funds.

Tenmile Executive Chair, Dr Steve Burnell, said while there was some government funds for startups in the incubation phase but “beyond that it is a bit of a cliff they will fall off” because so few know how to develop ideas into a business model or product.

Mrs Forrest highlights, “Tenmile is another demonstration of our focus in using capital as a force for good and will apply Tattarang’s responsible investment framework, including backing female-founded and led health businesses."

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Source: Adrian Lowe, The West Australian, 2022; Ten Mile Ventures 2022.
Photo: Tenmile chief executive Dr Steve Burnell with Carina Biotech CEO Dr Deborah Rathjen. Credit: John Nieddu