Eight months after announcing he was joining EVP to head its new opportunities fund — and just weeks after his first deal was announced — Misha Saul finds himself in a situation other venture capitalists have described as “your worst nightmare”.
StrongRoom AI, a medication management software company and one of the fund’s early investments, has fallen into administration after the board concluded there were doubts about its solvency. The company’s collapse, just two weeks after a raise led by Saul valued it at $70 million, has been swift.
The collapse followed EVP’s withdrawal from the medtech company’s $17 million funding round and a subsequent report to authorities regarding alleged financial discrepancies.
But the drama has also thrown a spotlight on Saul, one of the most outspoken and controversial VCs in Australia on social issues, who up until last week had a prolific presence on social media but has since deleted his account on X.
