Australia's Blue Sky raises $78m

According to a release, the firm issued about 8.7 million shares at A$11.50 apiece with a view to funding ongoing co-investment as well as other fundraising, joint venture and investment activity. It will be supported by a separate share offer to Australasian investors that aims to raise an additional A$25 million.

Blue Sky stock has traded steadily since confirmation of the capital raise and was priced at A$11.84 as of midday March 7, giving the GP a market capitalization of about A$813 million. According to AVCJ Research, Blue Sky’s own capital stood at A$30 million prior to the share placement.

Other recent fundraising activity includes the closing of a medical industry-focused vehicle last year at an undisclosed sum with a $7.6 million contribution from Adelaide-based Hills Medical. In early 2016, the firm’s venture capital arm closed a A$200 million fund targeting a range of technology segments.

Blue Sky claimed A$3.2 billion in fee-earning assets under management as of the end of financial 2017, representing a 55% increase on the prior year. The firm, which operates across private equity and venture capital, private real estate, real assets and hedge funds, has recorded an average annual net return of 15.9% since being founded in 2016.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Australasia
• Fundraising
• GPs
• Australia
• Growth capital
• Venture