Albion Capital Partners

Picking over the carcasses of failed companies and seeking to bring them back to life is something of a specialty in the Western Australian corporate scene, where the appetite for risk and a ready supply of listed shells have spawned a unique industry.

FEATURE: Biotech and IT companies are enjoying renewed investor interest, but these innovative businesses are facing a changing capital raising market featuring less government support and, in Perth, a drastic shift in the venture capital sector.

The number of backdoor listings or reverse takeovers in Western Australia is likely to rise after a change in ASX policy has simplified the process for emerging companies to access capital via existing entities.

Fitzroy Resources is set for big changes after winning backing from prominent Perth investors Tony Grist and Rod Jones.

A prominent Perth investor has personally sponsored the city’s latest surfing event, held at Cottesloe as one of seven long board contests on the World Surf League tour.

Former Amcom Telecommunications chairman Anthony Grist has invested in listed tech company Decimal Software, which is seeking extra cashflow while awaiting the receipt of a research and development tax refund.

Water Corporation chief executive Sue Murphy and technology entrepreneur Anthony Grist have been appointed to the board of the Fremantle Football Club.

An Israeli tech company has commenced trading on the ASX after raising $5 million from investors through an initial public offering and setting up shop in West Perth.