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The success of this fundraising is an endorsement of Starfish Ventures andan endorsement of Australia's ability to foster the development of innovativecompanies that, with the right support, can be transformed into successfulglobal businesses. The current fund brings Starfish's funds under managementto more than $385 million.
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Investments in Starfish Technology Fund II include Ausra, Aruspex,Monitoring Division and Pro-Active Medical, and all investors in the currentfund were also investors in the prior fund -- evidence, according to StarfishInvestment Principal, Michael Panaccio, of the company's strong record ofsuccess in backing innovative companies with the potential to become globalleaders.
Starfish Ventures has announced the closure of its fundraising forStarfish Technology Fund II at $185 million -- the largest venture capitalfundraising in Australia -- bringing total funds under management to more than$385 million. Starfish Technology Fund II will focus on Information andCommunications Technology, Life Sciences and Cleantech.
Seven investments have been made under Starfish Technology Fund II todate:
"Starfish is pleased to raise $185 million for Starfish Technology Fund IIin what has turned out to be a difficult fundraising environment," said Dr.Panaccio, Starfish Ventures Investment Principal, "We're delighted that theStarfish Technology Fund II investors were also investors in our previousfund."
"Starfish Ventures will continue to build on our past successes, such asDistra, Engana and ImpediMed, all of which have successfully created newglobal markets. We are committed to continue partnering with great managementteams to transform innovative Australian technology into great globalbusinesses."Cleantech: Myriax and Ausra ICT: 5th Finger, Aruspex , Monitoring Division, and Ofidium Life Sciences: Pro-Active Medical
SOURCE Starfish Ventures
