0
0
A new fund manager has been named to run the Andrews Labor Government backed Victorian Startup Capital Fund (VSCF).
Led by Neil Stanford and Brighid Pappin, highly respected leaders in the Australian venture capital sector, V-Ignite will bring together the skills and expertise of the former Hostplus Private Equity and Venture Capital team with leading VC manager, Brandon Capital.
V-Ignite is set to raise at least $60 million from investors, including superfunds, wealth managers and high net worth individuals, to match the Labor Government’s cornerstone investment managed by LaunchVic.
Investors in the new VSCF will benefit from access to Victoria’s growing start-up sector and a diverse range of other equity funds, as well as a preferential rate on returns.
Announced in the Government’s 2019-20 budget, the VSCF has been designed to harness budding entrepreneurs as they look to grow their companies.
V-Ignite was selected through a competitive procurement process run by LaunchVic, with the support of an expert selection panel.
