CVC-backed Cellnet on hunt for tech bolt-ons - report

The plan is to invest $100,000 to $5 million in companies that improve Cellnet's digital offering, particularly in the area of e-commerce.

CVC investment manager Eddie Wilson told StartupSmart that he expects to find ample early-stage opportunities in the Australian market and plans to cap funding at $5 million per startup.

"Cellnet is uniquely placed as it has the back-end sorted with its logistics and distribution," he said. "It just needs the online strategy to take advantage of that. It's more about moving product than services."

Cellnet Group, which is majority-owned by CVC, is a market distributor of telecommunications, flash memory and retail products in Australia and New Zealand. It distributes products directly to retailers, mass merchants, consultants, system integrators and resellers in the telecommunications, retail and IT industries.

Wilson revealed that the three attributes CVC is looking for are a concept for which there is proven consumer demand, a website or technology with strong functionality, and proof of scale. But, he added: "Every investment, ultimately, is about people and I'm a big believer in that, I don't pay lip service to it."

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• Topics
• Technology
• Australasia
• Expansion
• Growth capital
• CVC Capital Partners
• Australia
• Technology