WC CFO TheStrategicCFO#44 Online NZ Final - Flipbook - Page 1
NOTHING VENTURED, NOTHING GAINED
“We come to consensus fairly often but
sometimes you’ve got to take a punt.”
In June 2018, Telstra Ventures was spun
out of the parent company to become
an independent venture capital group –
with Telstra the largest investor.
Investments are running at seven
to eleven a year, in each case about
$US5-10 million.
Geoff ’s impeccable
timing has again come
into play. While the
coronavirus pandemic
has altered the
world for just about
every business, the
Telstra Ventures
portfolio comprises
businesses with built-in
adaptability.
”
CFOMagazine.com.au
The epitome of this is tech company
GitLab, which is – among other things
– a code repository, and very much a
model for modern business.
“They don’t have a head office – or any
offices,” he says. “From day one they’ve
been working remotely.
What we invest in
are primarily cloud
software, SaaS, business
security, consumer or
mobile development
companies. These guys
can work wherever –
give them a laptop, give
them fast internet and
away they go. There are
no legacy systems in
companies that are three
or four years old.
”
The Telstra Ventures portfolio is spread
across Chinese, US, Australian and
South-East Asian investments, and Geoff
says: “Virus or not, there’ll always be
a scenario where some investments are
doing well and some deals are not, but
if you can get diversification going you
minimise the risk at a portfolio level.”
Finally, if you’re wondering about the
origins of Geoff’s surname, and you
know a bit of French, you may have
made the link with nobility. It’s derived
from the French “dauphin”, indicating
an heir to the throne, and his family tree
branches through the Norman invasion
of England, into Lancashire.
For now, he’s happy bringing a touch
of class to the venture capital world.
