$200 million VC boost for startups Print
Written by GrantSmart
Thursday, 28 March 2013 09:43

Three new funds have been announced with co-funding from the Australian Government's Innovation Investment Fund (IIF). The new venture capital funds will invest at least $200 million into early stage, high growth Australian companies.

$100 million of Government funding will be matched dollar for dollar by private sector investors in:

  • Carnegie Venture Capital Pty Ltd ($40 million);
  • GBS Venture Partners Pty Ltd ($30 million); and
  • Innovation Capital Associates Pty Ltd ($30 million).
Details on the successful fund managers and examples of successful IIF investee companies are available on the AusIndustry website or read the Minister's announcement for his views on the IIF fund.