Blue Sky fund on track

"funds management"

24 June 2015
| By Mike Taylor |
image
image
expand image

Blue Sky Venture Capital this week declared first close for its venture capital fund (VC2014) with more than $15 million in committed capital.

Commenting on the close, Blue Sky Venture Capital investment director Dr Elaine Stead said there was strong momentum towards the fund's $30 million target and that the fund had attracted significant interest from foreign high net worth investors as it is eligible as part of the new Significant Investor Visa (SIV) rules that require a minimum investment of $500,000 in eligible Australian venture capital or growth private equity funds.

The fund is also a registered Early Stage Venture Capital Limited Partnership (ESVCLP), meaning returns to investors will be tax exempt.

The fund's first investment will be Australia's largest independent online retail delivery network, ParcelPoint, and it is currently in due diligence on a second investment.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

This verdict highlights something deeply wrong and rotten at the heart of the FSCP. We are witnessing a heavy-handed, op...

57 minutes 5 seconds ago

Interesting. Would be good to know the details of the StrategyOne deal....

4 days 6 hours ago

It’s astonishing to see the FAAA now pushing for more advisers by courting "career changers" and international recruits,...

3 weeks 2 days ago

Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand....

2 weeks 4 days ago

A former Brisbane financial adviser has been charged with 26 counts of dishonest conduct regarding a failure to disclose he would receive substantial commission payments ...

3 days 4 hours ago

Pinnacle Investment Management has announced it will acquire strategic interests in two international fund managers for $142 million....

2 days 7 hours ago