| Dear Avcal Colleague|
update on the current issues
Government assistance for Venture Capital
The VC industry is
particularly suffering in the current downturn with difficulties
raising new funds and problems for investees looking for follow-on
funding. This has been exacerbated by the axing of the Commercial
Ready program last year. AVCAL has been in negotiations with the
Government about support for the industry. Nevertheless, we are
realistic about the pressure on the budget at this time and continue
to work to deliver an outcome to our members.
Minister Kim Carr has just announced approx $83m
for an "IIF Follow-on Fund" for co-investments, to be accessible to
IIF/PSF fund managers. We are delighted to get this injection of
capital into the VC system. We shall however continue to press for
non-IIF managers to be included.
Australia as a Financial
The AFCF is a panel of independent experts
gathered by the Government to examine the barriers to improving
Australia's regional competitiveness in the financial services
sector. AVCAL has put a submission to the AFCF regarding the impediments
to industry that we would like to see addressed.
Tomorrow we will release our online
member satisfaction survey. Obtaining feedback is important to us as
we develop our strategies and plan for this year and next. It will
only take a few minutes to complete. It will be emailed to the main
contacts in each member organisation.
A special welcome to the AVCAL Partners
for 2009. We will be working with these companies to develop their
brand, increase effective networking and to connect them with
resources not otherwise available. If you are interested to explore
what partnership with AVCAL might mean to your company, contact firstname.lastname@example.org
Last chance for Catapult Genetics Case Study, QLD
Lunch, 26 March
Register for Foundation Course 7-8 April,
NSW Networking dinner on 7 April with Louise
O'Halloran on responsible investing.
Blue Sky Private Equity, Mark Sowerby, SA Lunch, 23
has been awarded "GP of the Year" by New York Life.
is the first time an Australian GP has won this prestigious award.
Our venture capital
industry must be saved - Sydney Morning Herald
the gatekeepers to the growth and development of an economy. Read
this article by AVCAL Chief Executive Dr Katherine
Woodthorpe on the challenges facing the Australian VC industry and
what the Government can do to assist in its
Managing Private Equity Portfolio Companies in
Australia - Financier Worldwide
This article by Claire Spencer from Financier
Worldwide looks at the changing business model Private Equity funds
are currently adapting as a result of certain keys issues faced by
the industry in Australia.
Global Economic Impact of Private Equity Report 2009
This World Economic Forum report examines the quality
of management practices adopted by PE firms at portfolio companies,
and the impact of PE on labour productivity. The research team, lead
by Josh Lerner of Harvard Business School, used 2 samples in their
research: one consists of 4,000 PE-owned and other medium-sized
firms manufacturing firms in Asia, Europe and US; the other sample
looks at firms that were targets of PE transactions in the US in
Queensland Lunch, , 26 March,
Brisbane. Catapult Genetics Case Study. Register now
Foundation Course and
Networking Dinner 7-8 April, Sydney. Register now
SA Lunch- Blue Sky
Private Equity - Mark Sowerby, 23 April. Register now.
Lunch- 1 May. Register now
NSW Golf Day, 11
June. Register early to avoid disappointment. Partner
The Hon. Kim Carr addresses AVCAL Members at
the NSW Lunch 9 July and we'll launch of latest edition of
Enterprise and Venture Capital, 5th Edition. Register now to secure your place
Golf day 29 September. LP only dinner
29 September. LP only breakfast 30 September. LP/GP only session 30
Our new website is well on its way. We expect
to launch around within the next month. Some of the new features
that you'll enjoy include:
- Improved navigation
Superior search functionalities
- More accessible information
- Access key reports with ease
right to events with one click
- See the news as it relates
to our industry on every page
- Members only access
AVCAL 2009 Conference, Gold Coast,
QLD. 30 September - 1 October. All registrants.
Global Technology Symposium at Stanford
Registration is now open March 26-27, 2009 at
Stanford University's Arrillaga Alumni Center in Palo Alto,
Asia Pacific Symposium on Entrepreneurship
April 1st-3rd 2009, Sydney, Australia. More details
2009 - June 11th-12th, 2009 - Griffith University, Gold Coast.
For more information
Mining & Exploration 2009
21 - 22nd September 2009,
Hilton Hotel, Sydney. More details.
AVCAL is the professionally
managed industry body that promotes the Australian private equity &
venture capital industry.
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