CyRise Closes with 3.55x Returns, 150+ Jobs Created, $40M Raised
CyRise, a leading tech accelerator, is celebrating its successful run with a close date set for 19 May 2023. Established in 2017 by NTT and Deakin University, CyRise has made a significant impact on the tech startup scene.
CyRise has invested in 39 startups across Australia, New Zealand, Singapore, India, and the US. The accelerator has seen remarkable returns, achieving an overall return multiple of 3.55x and an impressive internal rate of return (IRR) of 50%.
The success of CyRise can also be measured by the job creation it has facilitated. The companies it has supported have created over 150 high-value jobs in Australia.
One of the key indicators of CyRise's effectiveness is the additional financial aid raised by its portfolio companies. A significant 55% of these companies have secured further funding, totalling over $40 million.
CyRise's impact on the tech startup ecosystem is undeniable. With an impressive track record of returns, job creation, and additional financial aid for its portfolio companies, the accelerator has proven its value. As it prepares to close on 19 May 2023, CyRise leaves behind a legacy of supporting and nurturing innovative tech startups.
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