Former CEOs raise $150 million for new disruptive fund
Evans and Partners founder, David Evans, has assembled former chief executives to raise up to $150 million for the soon to be released Australian Securities Exchange (ASX)-listed Global Disruption Fund.
The investment committee would also include:
- David Thodey, former CEO of Telstra and current chairman of CSIRO;
- Richard Goyder, managing director of Wesfarmers;
- Paul Bassat, co-founder of Seek and Square Peg Capital;
- Sally Herman, director of Suncorp Group Limited; and
- Jeffrey Cole, research professor and director of the Centre for the Digital Future of USC Annenberg.
The new fund would be expected to provide investors with exposure to big name technology companies, benefiting from disruptive innovation, and would offer diversification from traditional Australian equities.
The initial portfolio would include Amazon, Facebook, Alibaba, Netflix, Apple, Microsoft and Visa.
However, the fund would also invest in a selection of smaller companies with the potential to “successfully disrupt existing markets”.
Walsh & Company Investments Limited has been chosen as the fund’s responsible entity.
Units in Evans and Partners Global Disruption Fund would be issued at $1.60 each and would be expected to trade on the ASX from 31 July.
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