VC firm names ex-Morgan Stanley CEO as chair

Future Now Ventures has named Steve Harker as the inaugural chair of their executive committee and investment committee.

Future Ventures is a venture capital firm that was founded in 2013 by John Orrock and Chris Lee. In late 2019, the firm partnered with Microsoft to gain exposure to companies selected for the tech giant's accelerated growth programs.

Harker was the CEO of Morgan Stanley Australia from 1998-2016, and vice chairman until 2019. He is also currently a non-executive director with Westpac.

Future Now Ventures principal John Orrock said that Harker shares Future Now's passion for developing and growing great companies. "He has a strong understanding of the changes that have been taking place in the technology and innovation spaces, and the opportunities that these changes present. His investment expertise and reach, stewardship and governance will be powerful assets for Future Now Ventures and the companies that the Fund will invest into."

Harker, who is also invested in the fund, said, "It's not every day that a company of Microsoft's size and market leading reputation executes a world first investment agreement with an Australian fund manager. I believe this speaks volumes about the credentials of John and his team, including their ability to support and grow selected Microsoft software partners.

"Having seen 'under the hood' of some of the young and dynamic portfolio companies that the Fund will gain exposure to, I strongly believe they have fantastic prospects in the global marketplace and there is potentially a lot of value to be realised for investors. I look forward to working with John and his team to help vet, manage, and grow these investments."

Future Now will focus on helping selected Independent Software Vendors (ISVs) successfully navigate cloud ecosystems while providing commercial, operational, and strategic support to increase the value of their offerings and accelerating their growth.