Up to $100 million will be invested in new, innovative companies as part of the Australian Government's Innovation Investment Fund (IIF).   The final tranche of IIF Round three of $100 million will lead to $200 million of venture capital for early-stage investments which reduces the financial risk to larger venture capital funds with the capacity to make significant longer-term investments. Applications from venture capital fund managers experienced in developing high-growth Australian companies to become globally competitive enterprises are being sought.

Applications for IIF tranche four close on Monday 2 July 2012. Details on information seminars for applicants are available at www.ausindustry.gov.au/IIF