TLDR:
ASX-listed VC Touch Ventures and its CEO, Hein Vogel, have decided to part ways after 4.5 years. The company, initially backed by BNPL fintech Afterpay, went through a tumultuous time under Vogel’s leadership, including a significant write-off of investments and a decline in net asset value. Vogel played a key role in taking the company public and establishing its portfolio. Touch Ventures is now reviewing its investment strategy and structure, with an update expected at the upcoming AGM in May.
Key Points:
- Touch Ventures and its CEO Hein Vogel part ways after 4.5 years
- Significant write-offs and decline in net asset value under Vogel’s leadership
Touch Ventures, an ASX-listed VC fund initially backed by Afterpay, saw its CEO Hein Vogel depart after a challenging tenure. The board and Vogel reached a consensus on his departure, with Vogel handing in his swipe card to pursue other opportunities. The company’s IPO in 2021 raised $100 million, but subsequent results showed losses and write-offs, leading to a decline in net asset value. Vogel was credited with taking the company public and navigating challenging market conditions. Touch Ventures is now reevaluating its investment strategy and structure.
