Dear AVCAL Members and Associates,

We're on the final countdown to AVCAL 2007 and it promises to be a great event. For those of you who were unable to secure places, there are other events occurring around Australia which will be very interesting and provide great networking opportunities. 

One of the key activities of AVCAL since the last newsletter has been preparing for and attending the hearings of the Senate Inquiry into Private Equity.  David Jones and myself gave evidence to the inquiry and I attended the full two days of evidence presented by others.  The tone was very different from the UK , with no hostility from the Senators and a reasoned and lively discussion of the benefits that private equity brings to the economy.

The regulators also corroborated that view, with the Reserve Bank, ASIC and APRA noting that private equity is a small but positive contributor to the Australian economy, that they are monitoring it but that they have no cause for concern.  They also noted that private equity operates in a highly (and appropriately) regulated environment, contrary to some popular views.

On the VC side I've also been busy, participating in the Innovation Leadership Forum and Chairing the Judging Panel for the NSW Enterprise Workshop Awards.

I'm looking forward to seeing some 700+ of you at the Gold Coast and many others at events around the country in the next month.



AVCAL 2007

The program for the conference has been updated. To view the latest version please click here.



Yalari Raffle

AVCAL is proud to be supporting, for a third year, Yalari's Rosemary Bishop Scholarship for indigenous children.

Our last two conferences have raised well over $100,000 in total and, in addition, AVCAL members have generously donated over $200,000 to Yalari.

As a result Yalari is currently assisting 15 children to attend good secondary boarding schools. Yalari aims to fund the education of over 250 children over the next ten years.

This year, to assist Yalari, we are raffling a beautiful painting by Gloria Petyarre, a famous indigenous artist. The painting has been selected for us by the well-known dealer, Christopher Hodges. We have been able to afford such a beautiful painting to raffle thanks to the enormous generosity of both Gloria and Christopher.

The painting has a retail value of $22,000. A sister painting recently sold at Christie's for $30,000.

To purchase tickets from Yalari please download the form attached here.





AVCAL State Events

QLD Lunch - Turnaround Capital
- Saviour of Distressed Companies or Just a Good Deal?

Speakers:
Michael Fingland, Managing Director, Vantage Performance
Sharon Doyle, Head of Mergers & Acquisitions, Interfinancial
Matthew Reynolds, Partner, Home Wilkinson Lowry

Date: Thursday, 23rd August, 2007
Venue: Grand Ballroom, Stamford Plaza
- Corner Edward & Margaret Streets, Brisbane QLD
Time: 12:00 Midday - 2:00pm
Host: Stewart Gow, AVCAL State Convenor, QLD
Cost: $85 AVCAL Member incl GST & $95 Non Member incl GST REGISTER


VIC Lunch - Innovation to R&D to Investment

Speaker:
Dr Terry Cutler, Principal, Cutler & Company

Date: Friday, 24th August, 2007
Venue: Bourke Room 2 & 3, RACV City Club
Level 2, 501 Bourke Street, Melbourne Victoria 3000
Time: 12:00 Midday - 2:00pm
Host: Dr Katherine Woodthorpe, CEO, AVCAL
Cost: $70 AVCAL Member incl GST & $90 Non Member incl GST REGISTER


NSW MBO Lunch - Choosing and working with a
PE partner : A management perspective

Speaker:
Ian Smith, Chief Executive Officer, YAHOO!7

Date: Friday, 31st August, 2007
Venue: Heritage Ballroom, Westin Sydney
- 1 Martin Place, Sydney NSW
Time: 12:00 Midday - 2:00pm
Host: Dr Katherine Woodthorpe, CEO, AVCAL
Cost: $80 AVCAL Member incl GST & $95 Non Member incl GST REGISTER


SA Lunch - Private Equity & Your Business
- How to Choose the Right Partner

Speakers:
Craig Cartner, Partner, Archer Capital
Lindsay Carthew, Director Finance and Marketing, SCF Containers International

Date: Tuesday, 4th September, 2007
Venue: Victoria Room, Hilton Adelaide, 233 Victoria Square, Adelaide SA 5000
Time: 12:00 Midday - 2:00pm
Host: Mark Butcher, AVCAL State Convenor, South Australia
Cost: $60 AVCAL Member incl GST & $70 Non Member incl GST REGISTER



SA - VC Connect

Australia's leading Venture Capital firms dedicated to investing in early-stage technology companies together with successful entrepreneurs, will share their experiences of how Venture Capital works at VC Connect.

Date: Thursday 30th August 2007
Venue: Hyatt Regency Adelaide, North Terrace, Adelaide
Time: 11.45am - 5.40pm (followed by drinks & Networking)
Cost: $220 / $110 Inc. GST (Discounts available)
REGISTER


NSW Pitchfest '07 - what's your formula?

NSW Pitchfest '07 is a highlight event of Small Business September, co-hosted by the Department of State & Regional Development (DSRD) and the Australian Small Scale Offerings Board Limited (ASSOB). The event will take place on Saturday, 15 September, from 1.00pm to 5.30pm at the Coles Theatre of the Powerhouse Museum.

NSW Pitchfest is a pitching competition for projects and businesses to communicate their investment opportunities before a judging panel drawn from a variety of financial and business backgrounds. Pitches will undergo an application process and mentoring program conducted by members of ASSOB. A shortlist of 10 will attend a workshop on Friday, 14 September, where they'll br given training in communications and pitching their opportunity. Of these, 5 finalists will be selected to compete a the public event the next day.
REGISTER


Queensland Government Bio Investor Summit to be held in conjunction with AusBiotech 2007 National Conference

Where: Mezzanine Level,
Brisbane Convention and Exhibition Centre
When: Friday 19 October 2007
Time: 8.30am for 9.00am until 4.30pm followed by networking
Registration: Free of charge, numbers are limited so registration is a must

The Investor Summit is a one-day event providing attendees with insights into early stage investing and opportunities for biotechnology businesses to pitch to the international investment community. The Summit will involve interactive workshops with feedback and advice from expert panels.

It is anticipated that the Investor Summit will attract biotechnology venture capital firms, angel investors, finance and investment professionals and biotechnology start-up and early stage businesses.

International representatives already confirmed to participate include:

- Kevin Scanlon, Head, TechCoast Angels and Pasadena Angels

- Allan May, Head, Life Science Angels

- John Clerici, Partner, McKenna Long & Aldridge LLP

- John Carrol, Editor in Chief, Fiercebiotech

- Rob Ayling, CEO, Finistere Partners LLP

- Elliot Parks, CEO, Hamilton BioVentures

Attendance to the event is free and will give the Australian investment community an opportunity to engage and build a rapport with potential offshore investors / strategic partners.

Click here for further Program and Registration details.



Welcome to this month's new Members

Private Equity Firms
- Coller Capital Limited
- Orchard Funds Management

Regional Corporate
- Allied Irish Banks
- Australian Unity Investments
- BNP Paribas Asset Management
- BPM Analytical Empowerment
- Chang Pistilli & Simmons
- Chapman Tripp
- Cleantech Ventures
- Grange Securities Limited
- Jon Michel Executive Search
- Communion Pty Ltd
- Sparke Helmore
- Strategic Project Partners
- Sumitomo Bank
- WHK Corporate Advisory

National Corporate
- Gallagher Broking Services
- GE Commercial Finance
- Thomson Playford

Institutional Investor
- Bayerische Hypo-und Vereinsbank AG

Organisation
- Fisher Adams Kelly
- International Business Wales
- Investor Finance P/L
- qutbluebox Pty Ltd

Angel
- Acheeva Business Solutions Pty Ltd
- Farseek Pty Ltd




All the best,


Katherine Woodthorpe
Chief Executive