Carosa invests in more Oz online start-ups
VC activity heats up: is this what a bubble sounds like?
Funding for Australian web ventures is gathering pace with Internet company accelerator, Future Capital Development Fund (FCDF), investing in a further three online operations.
Serial online entrepreneur Domenic Carosa launched the fund in 2010 and is its executive chairman.
Typically the fund invests between $AU100,000 and $AU500,000 in each venture, taking a significant minority stake and helps with advising and building the company.
“We continue to find new economy investment opportunities that have the potential to transform old economy business models. These are exciting businesses operated by passionate founders with strong potential to transform their respective markets,” he said.
The three ventures are agricultural and product tender site TheFarmTrader.com.au; waste removal booking system RentABin.com.au and cloud based business management solution for health and fitness professionals GetMeInform.com.au. The trio join the nine online and technology companies that FCDF have invested in over the last 18 months.
“Each offers simple but compelling services that drive down costs while delivering convenience and value for their respective customers. We welcome these companies to the Future Capital investment family,” Carosa said.
Last month the Fund raised $5 million to invest in the next round of emerging ventures. Carosa has been in the US raising capital and discussing the possibility of a dual listing of the fund next year which would aim to raise between $20 million to $30 million. ®