News
0 Technology fund reaches first close

OneVentures has reached its first close with approximately $45 million after launching to investors at the end of 2018.

OneVentures is a venture capital firm which primarily invests in innovative technology aimed at solving global problems. Its venture credit was a new product to Australia.

Venture credit is an established part of funding for tech companies in places like the US and Europe according to OneVentures but new to Australia.

After the first investment the fund is poised to invest approximately $100 million over the next five years and has expanded its team to support that.

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News
0 Does NZ finally a have sophisticated entrepreneurial culture

Company founders’ willingness to sell to a new owner or welcome new shareholders has been vital to New Zealand businesses that have created around $34 billion of value in the last 15 years, says a new report from Callaghan Innovation.

Drawing on public records of market capitalisation, capital-raising and takeovers involving high-growth New Zealand companies, the “Growing the Pie” report challenges perceptions that foreign ownership has been bad for New Zealand-founded companies and suggests the country is finally developing a more sophisticated entrepreneurial culture.

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News
0 Private equity merger deals surge

Australia saw 583 merger and acquisition (M&A) transactions worth $125.2 billion in 2018, with the private equity sector marking the highest year-to-date value and playing a significant role in Australia’s economic development, according to Mergermarket.

The 2018 Australian Private Equity Trend Report noted that the total number of M&As had decreased, with 35 deals fewer than the year before, with a worth of $85.6 billion.

Private equity activity however surged, registering $28 billion for 72 buyouts, rising 85.2 per cent from the year before with $15.1 billion covering 67 deals.

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News
0 Local VCs lack institutional backers

The Australian venture capital sector is gradually attracting more local investment but not enough from the most significant source, institutional investors.

Private Equity Media (PEM) has just released its annual report on Australian institutional investors’ attitudes to private equity and venture capital investing.

The report reveals a very different picture to the strong growth suggested by internet posts which focus on the technologies being developed, rather than the financial backing needed to commercialise them.

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News
0 ESG an increasingly important issue for super funds

The increasing importance of ESG in investment markets was reiterated at the recent AVCJ Private Equity and Venture Capital Forum by two major government sector super funds and private equity investment specialists.

At a time of debate about the appropriate level of shareholder activism by super funds, representatives of both Local Government Super (managing $11 billion FUM) and First State Super (managing $90 billion FUM) said ESG was a key and growing issue in assessing the risk of any prospective investment in the private equity sphere.

Meanwhile, Anthony Kerwick, managing director of Adamantem Capital, said all potential limited partners, that is potential super fund investors, in his private equity fund ask questions about Adamantem’s position and policies on ESG as it relates to private companies they invest in or may invest in.

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