A record $170 million capital raising by venture capital firm Southern Cross Venture Partners could just be the beginning of a surge in investment funding for Australian start-up and early stage companys, leading industry watchers say.
Southern Cross plans to raise $200 million for the fund, which will focus on early stage investments in the materials, electronics, IT, telecommunications, nanotechnology, environmental science, defence and clean energy sectors.
For years the struggling little brother to the booming late-stage private equity market, Australia’s venture capital scene looks to be bouncing back strongly from the setbacks suffered when the dot-com bubble burst in 2001.
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