Brandon Capital tests reverse brain drain theory
December 1, 2017
Finally the venture capital industry has a reliable litmus test for the propensity of top talent in life sciences and medical devices looking to return home.
Brandon Capital, the Melbourne-based venture capital investor with $530 million in funds under management, is in the market for two new portfolio managers.
Managing director Chris Nave says Brandon is using this as an opportunity to bring home some talented Australians working offshore.
About 320 medical doctors and doctors of philosophy working overseas have applied for the two positions.
This exercise shows how many leading scientists and doctors are keen to return home.
Nave says it also shows that there are not enough jobs in Australia for the talent attempting to bust down the door at home.
Brandon Capital is a pretty tight ship but it already employs 11 medical doctors and Phds and some analysts.
The two new portfolio manager jobs were created to serve the $230 million biomedical translation fund, which is part of the government’s medical research commercialisation fund.
The BTF, which is half federal government money and half private sector, aims to fill the gap in late stage financing of Australian life sciences.
Sarah Thompson, Anthony Macdonald and Joyce Moullakis
The Australian Financial Review
1 December, 2017