Late last year, destra founder Domenic Carosa launched the Future Capital Development Fund Limited (FCDFL), a new investment fund focused on internet ventures.
This will now play a significant role in Carosa’s revived career, which was derailed last year when his involvement in the Opes Prime debacle saw him lose control of destra and eventually leave the company (see “What I have Learnt [the Hard Way]“, Oct/Nov ’08).
The FCDFL is a pooled development fund, a structure that affords significant tax concessions for investors, including tax free capital gains on the sale of their shares. Here, Carosa and Anthill publisher James Tuckerman chat about the process of starting a new investment fund in Australia.
(Disclosure: one of Domenic Carosa’s new investments, Mailinglists.com.au advertises on anthillonline.com.