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Starfish Ventures Closes Australia's Largest Venture Capital Fund With $185 Million Tech Fund
Date:11/12/2008

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, su
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SOURCE Starfish Ventures
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