Inter-firm collaboration and networking have significantly increased in the context of technological innovation, changing the business environment and contributing to rapid and global integration. Being at the heart of technological innovation and commercialization, the venture capital (VC) industry has adopted inter-firm alliance as a common practice on a global scale. The most common form of collaboration in the industry is investment syndication between firms which eventually leads to a network of syndication. Understanding drivers of syndication and its financial implications is no longer enough. The nature of the inter-firm collaboration networks can be influenced by location and industry characteristics, and in turn they can also influence the industry practices and change. This study investigates the emerging structure of the VC networks in technology ventures in Australia in order to capture key features of the Australian VC market. Using graph theory the paper presents syndication network graphs and analyses their structural properties. The connectivity and density analysis shows further scope for facilitating the flow of information and resources across the VC industry. Behavioural implications of the networks on the industry practices and viability are also analysed and questions raised about the VC industry’s contribution to supporting and mainsteaming sustainable technologies.