Recently the DIH found this article from the Office of Territory Development eNewsletter dated August 2003. The article shows our CEO, Harley Paroulakis opening the first AVCAL office in Darwin with the late Senator Bob Collins. The first AVCAL office opened in Darwin in a bid to “seize innovative and business opportunities”.
16 years later we have successfully opened the Northern Territory’s first venture capital fund, Paspalis Innovation Investment Fund (PIIF) which is a member fund of the Australian Venture Capital Association Ltd. PIIF has already raised $24.5 million from private investors across the Asia Pacific region.
It goes to show that very good things that are worthwhile take time and perseverance. Something we are very mindful of at the DIH.