Silver is well known in Sydney financial circles. Raising money for tiny companies long on potential and short on revenue is often a flashy business, and he has aroused what The Sydney Morning Herald has dubbed “strong reactions” for his tactics.
He came to the notice of the ASX in 2019 after a company in which he had been appointed a director failed to alert shareholders of his past run-in with a US financial regulator. Silver had three years earlier been fined and suspended for six months after being accused of having failed to notify his then-employer of personal trades (he didn’t admit wrong-doing).
More recently, Evolution has been the brokerage behind several capital raises at divisive battery company Magnus Energy, which the ASX suspended from trade in December after auditors questioned its solvency.
Still, whatever Evolution’s doing, it’s working: its website says its raised more than $1 billion for ASX-listed companies across 82 transactions, and Silver is building a pricey and architecturally significant family home in Bondi on plans drawn by leading architect Luiggi Rosseli.