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Starfish Ventures Closes Australia's Largest Venture Capital Fund With $185 Million Tech Fund

MELBOURNE, Australia, Nov. 12 /PRNewswire/ -- Melbourne-based Starfish Ventures announced today the successful closure of its Starfish Technology Fund II at $185 million, the largest venture capital fundraising in Australia. The fund will invest in ICT, 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.

Investments in Starfish Technology Fund II include Ausra, Aruspex, Monitoring Division and Pro-Active Medical, and all investors in the current fund were also investors in the prior fund -- evidence, according to Starfish Investment Principal, Michael Panaccio, of the company's strong record of success in backing innovative companies with the potential to become global leaders.

Starfish Ventures has announced the closure of its fundraising for Starfish Technology Fund II at $185 million -- the largest venture capital fundraising in Australia -- bringing total funds under management to more than $385 million. Starfish Technology Fund II will focus on Information and Communications Technology, Life Sciences and Cleantech.

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."



-- Myriax: Produces high quality aquaculture technology and environmental

data analysis and visualization software.

-- Ausra: A solar thermal energy company providing solar power, steam and

energy systems for industrial processes and utility-scale electricity


Information and Communications Technology

-- 5th Finger: Develops mobile marketing technology for the creation,

management and execution of marketing campaigns on mobile devices.

-- Aruspex: Delivers strategic workforce planning solutions that help

organisations design and attain their future workforce.

-- Monitoring Division: Develops technology for identifying and monitoring

multiple network impairments in optical networks.

-- Ofidium: Develops 100Gps optical transceiver modules to increase the

speed of transmissions to optical networks.

Life Sciences

-- Pro-Active Medical: Develops a medical device for the monitoring of

lower back movement and a feedback device for poor posture.

Media contacts:

Asia/USA Susan Fitzpatrick +61 (0) 400246010

Office +1 650 7985238/+61 (0) 290061614

Australia: Tania Ewing 0408378422

Office: 02 90061614

SOURCE Starfish Ventures
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