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Starfish Ventures announces final close of Technology Fund at AU$123M

Thursday, 25 November 2004
Starfish Ventures announces final close of Technology Fund at AU$123M

Starfish Ventures announces final close of Technology Fund at AU$123M

Starfish Ventures Pty Ltd, a leading Australian technology investor, today announced the final close of the Starfish Technology Fund I, LP (“STF”) at AU$123 million.

“This is a long awaited milestone for Starfish Ventures and we are now looking forward to investing the capital into the Australian technology sector”, said John Dyson, Investment Principal at Starfish Ventures.“We are grateful to receive the support of many of Australia’s key investors in venture capital and also welcome new international invetors to the sector,” Dyson added.

Starfish Ventures had targeted a fund size of AU$100 million and the decision was made to go beyond that amount following strong support from new and existing investors.

The Fund was the first venture capital fund to be established under the new Venture Capital Limited Partnership (VCLP) structure. The VCLP structure was introduced by the Australian Federal Government to remove a key barrier to attracting international investors to the Australian private equity market.

The STF is the Company’s second fund after the launch of the Starfish Pre-Seed Fund in 2002.

Starfish Ventures is seeking to invest in innovative Australian companies across all fields of technology from information and communications technology through to the life sciences. The focus will be on investments in private companies that display an oustanding management team, are commercialising innovative technology and are capable of becoming a global market player.

Starfish Ventures welcomes proposals from entrepreneurs seeking capital.

About Starfish Ventures: Established in 2001, Starfish Ventures is a new Australian owned venture capital fund manager seeking superior returns through active investment in innovative technology companies. The Starfish Ventures team established its track record supporting such Australian technology success stories as Compumedics, Moldflow, Preston Aviation Solutions, Resmed and Sirtex Medical.