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G'day,

Telstra is looking to offload potentially hundreds of millions of dollars in investments from the venture capital fund it started more than a decade ago as it sacks thousands of staff and races to achieve about $400m in cost savings.

Canva’s free-to-use marketplace is forming a key plank in the graphic design darling’s ambition to reach one billion active monthly users, with the number of apps available on the platform surging by more than 18 times since it was launched a year ago. The $40bn invested $50m in creating a developer fund last year as investors anticipate a US listing.

And global security company DigiCert has backed a $1bn taxpayer-funded investment to build Australia’s first quantum computer, likening the scramble to develop the tech to the race to detonate the atom bomb in the 1940s.

Telstra dumps $1.35bn VC fund as part of ‘capital discipline’

Telstra Ventures will be renamed as the telco looks to offload hundreds of millions of dollars in investments from the fund it started a decade ago.

Canva reaping dividends from $50m developer fund

The graphic design darling wants to grow from 190 million users to 1 billion, and a free-to-use developer marketplace is emerging as a cornerstone for the strategy.

‘Just like the atom bomb’: tech CEO praises Aussies

DigiCert boss Amit Sinha believes the benefits from quantum computing – which remains a promising but elusive technology – outweighs the risks. But he says governments and companie...

Sydney tech firm adds Microsoft exec to board

Sydney-based innovation studio Lakeba has tapped a Microsoft executive to join its board as it looks to expand deeper into Southeast Asia.

AI and copyright group met twice in six months

Stakeholders are getting impatient with the ‘snail-pace’ progress on the government’s copyright and AI rules, as it emerges that the body assigned to deal with the issue has met o...