The Government announced today that over $160 million in venture capital will be made available through four new Innovation Investment Funds (IIF).
Carnegie Venture Capital, MRCF, Southern Cross Venture Partners and Australia Ventures will receive Government funding of $20 million each, which will be matched with private investor’s funds. These IIF funders will invest into new companies to assist them commercialise their research and bring a wealth of new products into the Australian economy. Each fund has a specific focus, including spin-outs from medical research institutes and new media technologies.
Over the past 12 years the IIF has assisted over 90 companies.