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$64M Federal investment ‘survival’ pool for promising early-stage Australian companies

Posted By Paul Ryan On 10 August, 2009 @ 11:43 am In Funding & Finance,News Desk,Tech & Innovation | No Comments

Last Thursday the Federal Government announced that 11 fund managers had been named to oversee investment of $64 million into promising early-stage Australian companies under the Innovation Investment Follow-On Fund [1] (IIFF).

Making the announcement, Senator Kim Carr, Minister for Innovation, Industry, Science and Research, said, “The new IIFF is a temporary, targeted and timely response to address the lack of capital available to the most promising innovative companies during the global financial crisis. The fund will enable these early-stage companies to continue to develop and to commercialise research.”

The designated investee companies have previously received investment capital though Rounds 1 and 2 of the Innovation Investment Fund [2], the Pre-Seed Fund [3] and under the former ICT Incubators program.

Twenty of the eligible 22 fund managers applied for assistance. The 11 successful applicants are:

Allen & Buckeridge Asset Management [4] – $7,100,000
Portfolio: BT Imaging Pty Ltd, Heard Systems Pty Ltd, RPO Inc.

AMWIN Management [5] – $5,440,000
Portfolio: EnGeneIC Pty Ltd

Coates Myer and Company [6] – $1,910,000
Portfolio: Dilithium Networks Inc

Divergent Capital Partners [7] – $2,750,000
Portfolio: Genos Pty Ltd, Inovia Holdings Pty Ltd

GBS Venture Partners [8] – $10,047,000
Portfolio: AiMedics Pty Ltd, Applied Physiology Pty Ltd, Hatchtech Pty Ltd, Hydrexia Pty Ltd

InQbator [9] – $3,950,000
Portfolio: distIP Pty Ltd, Hoodlum Active Pty Ltd, Mesaplexx Pty Ltd, Sky Technologies Holdings Pty Ltd

In-tellinc [10] – $2,300,000
Portfolio: Healthcare Software Pty Ltd, Packaged Solutions Pty Ltd (trading as Getbusi), The Learning Edge International Pty Ltd, Tickit Systems Pty Ltd

Neo Technology Ventures [11] – $5,100,000
Portfolio: Open Kernel Labs Pty Ltd

Playford Capital [12] – $7,450,000
Portfolio: Cavitus Pty Ltd, e-Channel Online Pty Ltd, Ember Technologies Pty Ltd, Neuro Vision Technology Pty Ltd, Reproductive Health Science Pty Ltd, Signostics Pty Ltd

Starfish Ventures [13] – $9,850,000
Portfolio: Audinate Pty Ltd, MIGfast Pty Ltd, Mimetica Pty Ltd, Monitoring Division Inc, Ofidium Pty Ltd

Start-up Australia Ventures [14] – $8,510,000
Portfolio: Bionomics Limited, Mimetica Pty Ltd

Article printed from Anthill Magazine: http://anthillonline.com

URL to article: http://anthillonline.com/64m-federal-investment-survival-pool-for-promising-early-stage-australian-companies/

URLs in this post:

[1] Innovation Investment Follow-On Fund: http://www.ausindustry.gov.au/VentureCapital/InnovationInvestmentFollowonFund/Pages/InnovationInvestmentFollowonFund.aspx

[2] Innovation Investment Fund: http://www.ausindustry.gov.au/VentureCapital/InnovationInvestmentFundIIF/Pages/InnovationInvestmentFund%28IIF%29.aspx

[3] Pre-Seed Fund: http://www.ausindustry.gov.au/VentureCapital/Pre-SeedFundPSF/Pages/home.aspx

[4] Allen & Buckeridge Asset Management: http://www.a-b.com.au/

[5] AMWIN Management: http://www.champventures.com.au/

[6] Coates Myer and Company: http://www.cmcapital.com/

[7] Divergent Capital Partners: http://www.divergent.com.au/

[8] GBS Venture Partners: http://www.gbsventures.com.au/

[9] InQbator: http://www.inqbator.com.au/

[10] In-tellinc: http://www.in-tellinc.com.au/

[11] Neo Technology Ventures: http://www.ntfund.com/

[12] Playford Capital: http://www.playford.com.au/

[13] Starfish Ventures: http://www.starfishvc.com/

[14] Start-up Australia Ventures: http://www.start-up.com.au/

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