The last month has been a busy one at AVCAL. We've had professional development programs and a flurry of research publications. We are in the midst of planning end of year functions in SA, Vic, Qld and NSW so we hope to see you at one of those. The NSW end of year drinks immediately follow the AGM and we hope many of you can attend both.
It's also been a busy month on the advocacy front with particularly MITs occupying a lot of time. The Assistant Treasurer is meeting with AVCAL, the Property Council, the Financial Services Council and others next week to discuss the MIT implementation process. These discussions have been going on for well over a year now and our coalition of industry groups hopes that there will be some progress next week.
AVCAL welcomes the appointment of the new Commissioner of the ATO, Chris Jordan. It will be interesting to have a Commissioner with such broad private sector experience in the role. His role chairing the Board of Taxation also gave him a good understanding of private equity and venture capital that should be valuable as AVCAL engages with the ATO in the coming year.
I was lucky enough to participate in two great award programs this month as a judge. The "Growth Company Awards" are a new program specifically designed to highlight and celebrate the role that a great number of unknown companies play in our economy. Congratulations to CHAMP Ventures' portfolio company Lorna Jane (led by Bill Clarkson) for winning the Growth Company CEO of the Year Award. And I was also fortunate enough to be a judge on the Ernst & Young Entrepreneur of the Year Awards (as yet unannounced). I personally get so much out of the opportunity to meet these driven entrepreneurs and it gives me great hope for the future of Australia's economy.
All the best for the start of the end-of-year celebrations. In the next edition of the newsletter we will be bringing you a full wrap-up of the year's activities.
AVCAL is pleased to again invite submissions for two research prizes in 2012-13. This programme aims to encourage the development of high-quality research on issues of importance and relevance to the PE and VC industry in Australia. Submissions are invited from academia and industry participants for these prizes. Entries close at 5pm (EST) on Friday 7 December 2012 and will be judged by a panel selected by AVCAL.
You may recall Greg Minton from Archer Capital introducing the Future Direction Network (FDN) at the alpha conference awards night. FDN, a not-for-profit working to increase the participation rate of students from low socio-economic backgrounds at university, is AVCAL's philanthropy partner for 2012.
Since the September conference, FDN has raised $32,500 from a number of individuals and corporates including CHAMP Ventures, CHAMP Private Equity, Archer Capital, Greenstone Partners and AVCAL. Including additional commitments, FDN's total fund is valued over $100k. Donations can be made online through The Trust Company.
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AVCAL/Ernst & Young 2012 Yearbook
In FY2012 venture capital and private equity firms raised a total of $3.3b in commitments, invested $2.9b in 146 companies and fully/partially divested 51 companies.
The AVCAL research library is a one-stop centre for accessing current international research and industry reports on PE and VC. A wide selection of items has recently been posted - look for the NEW symbol.
You can subscribe to additional email updates as news, research or policy related matters are posted to our website. Simply login to your account on our website and subscribe as required via the "update your details" field. If you don't know your login, just click "forgot your password?" and enter your name and email address. A link will then be emailed to you so you can reset it. You can do this as often as necessary.
AICD - Demystifying private equity for directors
Sydney, 27 Nov 2012
There are many questions surrounding private equity. Get answers and advice from a diverse panel including Dr Katherine Woodthorpe, CEO AVCAL; Tim Reed, CEO of MYOB; Leon Pasternak, Deputy Chairman of Southern Cross Media Group and Independent Director of GenesisCare; and Simon Moore, Managing Director, The Carlyle Group.
Springboard: Australia 2013
Application deadline is 15 Dec 2012
Springboard is currently seeking investment-ready women-led companies to participate in Springboard: Australia 2013—the nation’s first accelerator program exclusively for women entrepreneurs.
HKVCA - 3rd Asia Private Equity Forum
Hong Kong, 16 Jan 2013
Dicounted rate available for AVCAL members
Leading investment professionals from firms active in China, India, Korea, Indonesia and elsewhere in Asia will address key issues relating to private equity.
SuperInvestor Asia
Singapore, 29-30 Jan 2013
15% discount for AVCAL members
With a pan-Asian focus, the conference will dig deep into the current dynamics of the LP/GP relationship.
Australian Private Equity Handbook - NEW 15% discount for AVCALmembers (promo code is 'AVCAL2')
A plain-English reference guide with step-by-step advice on implementing private equity transactions
