TLDR:
– There is a proposal to allocate 1% of Australia’s $3.9 trillion superannuation sector to invest in start-ups.
– This idea was proposed at a summit, but there are concerns as the superannuation funds are not the government’s money to redirect.
1 per cent of your super for venture capital? Add it to the list
Everyone wants a piece of Australia’s $3.9 trillion super system. Add venture capital to the list. The problem is, it is not the government’s money to redirect. The first panel of any good summit sees a big-name speaker put an idea out there that can linger over the day. On Tuesday, it was carving off a chunk of Australia’s large and growing $3.9 trillion superannuation sector to be invested into start-ups.
While the proposal to allocate 1% of superannuation to venture capital may seem enticing, there are concerns regarding the legality and the fact that superannuation funds are not government funds. This idea, presented at a summit, has sparked discussions about the implications and challenges involved.
