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May 22nd, 2007
A BOOMING private equity sector has helped fill the boots of Australia's biggest ever, early-stage venture fund, a market languising since the dotcom boom.
Southern Cross yesterday said it had grabbed $170 million, signaling the potential for a new golden era for local technology-related businesses that have been shunned as investors chased more established companies.
The funds manager, Southern Cross Venture Partners (SXVP) headed by venture capital industry veteran Bob Christiansen, has garnered investment support from Macquarie Bank - $60 million for funds it represents - as well as substantial commitments from Industry Funds Management (IFM) and SunSuper.
The Southern Cross Fund, which launched in August last year, focuses on early-stage investments in electronics, technology, telecommunications, nanotechnology and environmental science including clean energy.
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