Blue Sky launches fund for Australian SMEs
Brisbane-based private equity firm Blue Sky Funds Management aims to raise A$50 million ($41.4 million) for a fund targeting investments into Australian SMEs.
The fund, dubbed the The Blue Sky Private Equity EC2010 Fund, already has backed Lenard's Chicken and Viking Rentals, both of which were financed from the fund's baseline investments. Blue Sky will seek to raise capital from self-managed superannuation fund (SMSF) investors and from alternative institutions.
According to reports, Blue Sky looks to partner with up to 10 businesses for the fund. The fund's resources will be allotted for both "proven assets" as well as new portfolio companies looking to expand organically or through acquisitions, Blue Sky Private Equity's MD Tim Wilson told media.
More on Funds
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.