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Starfish Ventures Closes Australia's Largest Venture Capital Fund with $185 million Tech Fund

Wednesday, 12 November 2008
Starfish Ventures Closes Australia's Largest Venture Capital Fund with $185 million Tech Fund

13 November, 2008 - Melbourne-based Starfish Ventures has announced the successful closure of its Starfish Technology Fund II at $185 million, the largest venture capital fundraising in Australia. The fund will invest in Information and Communication Technology, Life Sciences and Cleantech companies.

The success of this fundraising is an endorsement of Starfish Ventures and an endorsement of Australia’s ability to foster the development of innovative companies that, with the right support, can be transformed into successful global businesses. The current fund brings Starfish’s funds under management to more than $385 million.

Seven investments have been made under Starfish Technology Fund II to date:

  • Cleantech: Myriax and Ausra
  • ICT: 5th Finger, Aruspex , Monitoring Division, and Ofidium
  • Life Sciences: Pro-Active Medical

“Starfish is pleased to raise $185 million for Starfish Technology Fund II in what has turned out to be a difficult fundraising environment,” said Dr. Panaccio, Starfish Ventures Investment Principal, “We’re delighted that the Starfish Technology Fund II investors were also investors in our previous fund.”

“Starfish Ventures will continue to build on our past successes, such as Distra, Engana and ImpediMed, all of which have successfully created new global markets. We are committed to continue partnering with great management teams to transform innovative Australian technology into great global businesses.”

About Starfish Ventures
Established in 2001, Starfish Ventures is an Australian owned venture capital fund manager seeking superior returns through active investment in innovative technology companies. Starfish Ventures has over $385 million in funds under management and has made investments in over 35 companies to date. Starfish Ventures seeks investments in emerging Australian businesses across all technologies sectors including information and communications technology, biotechnology and life sciences, industrial technology, material sciences and cleantech. For more information go to www.starfishvc.com