Australian innovators now have access to an extra $40 million in venture capital funding with the establishment of new fund manager OneVentures.
Senator Kim Carr, Minister for Innovation, Industry, Science and Research, has congratulated OneVentures on being awarded a licence under the Australian Government’s Innovation Investment Fund (IIF) program.
The IIF program provides fund managers with $20 million which they must match with private sector capital to establish new funds to invest in promising early-stage Australian companies commercialising Australian research.
OneVentures, headquartered in Sydney, will invest in emerging Australian companies in the cleantech, new media / information technology and life sciences sectors.
“The successful raising of $20 million in private sector investor capital to be channelled into early-stage technology-based businesses is remarkable considering it is being done against the backdrop of the global financial crisis.
To read the full, original article click on this link: Extra venture capital funding for start-ups
Author: Manufacturers' Monthly
