The Australian government’s Innovation Investment Fund has pledged at least 100 million Australian dollars (US$104 million) to local venture capital funds, Minister for Climate Change, Industry and Innovation Greg Combet said Wednesday.
The government funding will be matched dollar-for-dollar by private sector investors such as superannuation funds and high net worth individuals. It will see M.H. Carnegie & Co.’s Carnegie Venture Capital receive a combined A$80 million, while GBS Venture Partners and Innovation Capital Associates will each receive A$60 million.
To read the full, original article click on this link: Australian Government Commits $104 Million to Venture Capital Funds - Deal Journal Australia - WSJ
