ASX courts VC

ASX courts VC-backed startups as exit pressure mounts

Australia’s exchange is pursuing VC-backed tech companies as founders and funds quietly debate whether the ASX is finally becoming a real exit option.

The ASX is working with VC-backed tech companies across Australia, New Zealand, Singapore and the US on potential listings, as pressure builds on local venture funds to deliver liquidity to investors after a decade of tight exit options.

James Posnett, general manager of listings at the ASX, said the exchange had “a healthy pipeline of tech companies” considering a float, though he said globally only around 15% of VC-backed companies ever go public.

“ASX has been working closely with a number of Australian tech companies and VC funds, helping them understand that ASX is a viable option for future growth, liquidity and ongoing capital raising,” he told Capital Brief. “We will also play a key role with the VC sector, helping them deliver DPI to their LPs and recycle capital back into the private markets.”

The comments come as founders and VCs privately debate whether the ASX has become a viable mid-market exit — a conversation Ian Gardner, co-founder of Innovation Bay, said was building from both sides of the cap table.