AVCAL CEO Katherine Woodthorpe resigns

During her tenure, Woodthorpe has been credited with building AVCAL's research function which helped the association make the case for PE as both a major contributor to the economy and a rewarding asset class for investors.

"Katherine has also helped to reduce significantly the knowledge and transparency gap between what PE communicates and what key business and government stakeholders need to know and understand," said John White, chairman of AVCAL, in a statement. "The introduction of AVCAL's Code of Private Equity Governance was another significant milestone for our industry."

Venture capital in particular has received more support from the government of late. Earlier this year, the government said it would provide A$350 million ($360 million) in new funding for the Innovation Investment Fund to support small- and medium-sized enterprises (SMEs).

Improvements have also been made to the early stage and venture capital limited partnership (ES/VCLP) structures through which funds investing in SMEs qualify for flow-through tax treatment.

"Securing A$350 million from the IIF program will help ensure venture capital continues to deliver returns for the nation in terms of innovation and new, sustainable jobs," said Woodthorpe. "I am now keen to make a more hands on contribution to innovation and commercialization which will include my role as the Chair of the Antarctic Climate and Ecosystems Cooperative Research Centre."

AVCAL's Council has appointed international search firm Heidrick & Struggles to find a successor.

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