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Andrew Forrest’s Tattarang launches Tenmile, a $250m venture capital fund for medical technology start-ups

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WA billionaires Andrew and Nicola Forrest are backing a new $250 million Perth-based venture capital fund targeting start-ups in the medical technology sector.

Tenmile has former Roche Group executive Steve Burnell at its helm and aims to boost the number of firms making it to scale — a constant battle for Australian health start-ups with a lack of investors who deeply understand success in the sector is often a long burn.

Funded through their investment vehicle Tattarang, the Forrests want Tenmile to invest in solutions meeting unmet medical needs.

Dr Burnell said while there was some government funds for startups in the incubation phase but “beyond that it is a bit of a cliff they will fall off” because so few know how to develop ideas into a business model or product.


WA billionaires Andrew and Nicola Forrest are backing a new $250 million Perth-based venture capital fund targeting start-ups in the medical technology sector.

Tenmile has former Roche Group executive Steve Burnell at its helm and aims to boost the number of firms making it to scale — a constant battle for Australian health start-ups with a lack of investors who deeply understand success in the sector is often a long burn.

Funded through their investment vehicle Tattarang, the Forrests want Tenmile to invest in solutions meeting unmet medical needs.

Dr Burnell said while there was some government funds for startups in the incubation phase but “beyond that it is a bit of a cliff they will fall off” because so few know how to develop ideas into a business model or product.

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