Innovation Capital launches $100-million venture capital fund

federal-government/

5 April 2013
| By Staff |
image
image image
expand image

Venture capital specialist Innovation Capital has launched a new $100 million fund.

The company announced this week that the new fund would be focused on providing financing to Australian companies developing or utilising advanced manufacturing techniques.

It said the launch of the fund followed on from Innovation Capital being named as one of three venture capital managers selected under the latest tranche of the Federal Government's Innovation Investment Fund (IIF) program.

The new fund will be known as Innovation Capital Fund III and will have a particular focus on companies involved in the development or use of advanced manufacturing techniques.

Commenting on the fund launch, Innovation Capital managing partner Michael Quinn said Australia had many world-class companies in the field of high-margin manufacturing.

"There are not many sources of finance for such companies in their early stages of development, which creates an outstanding investment opportunity for our fund," he said.

Quinn said the fund would consider investments in web and mobile applications, medical devices, alternative energy, mining technology, software and similar sectors with either service or high-margin manufacturing strategies.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

The succession dilemma is more than just a matter of commitments.This isn’t simply about younger vs. older advisers. It’...

1 month 2 weeks ago

Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...

2 months 1 week ago

It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...

2 months 2 weeks ago

ASIC has canceled the AFSL of Sydney-based asset consultant and research firm....

1 week 6 days ago

The Reserve Bank of Australia has announced its latest interest rate decision following this week's monetary policy meeting....

3 weeks 1 day ago

A former financial adviser who stole $4.4 million from his family and friends to feed gambling debts has been permanently banned by ASIC....

3 weeks 5 days ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND
moneymanagement logo