NEWSLETTER FEBRUARY 2013
   

CEO'S NOTE - The Innovation Statement - a great success for AVCAL

Dear [FirstName],

Well the year has started with some great news in the form of the Innovation Statement from the Government. The key elements are first, a new round for the IIF program comprising $350 million, the first tranche of which will call for applications late this year. The second is the update to the ES/VCLP regime which will make the structures more practical and attractive.

The key outcomes for users of the structures is that the Government has confirmed that all eligible domestic investors in the VCLP will be able to have their gains on the capital account. A significant change to the ESVCLP is bringing down the minimum investment capital requirement from $10 million to $5 million, which will make it more attractive for angel investors.

Read AVCAL's summary of the relevant issues in the innovation statement. 

We will expect a responding Innovation Policy from the Opposition at some stage. Needless to say we are working closely and busily with both sides to ensure that our issues are understood and that policies will support, and not hinder, our industry.

Other policy issues

In addition the Office of the Chief Scientists has released its report to the Prime Minister's Science, Engineering and Innovation Council last Friday titled "Top Breakthrough Actions For Innovation". The report is pretty disappointing, seeming to be largely research driven without considering the transformation of that research into real outcomes. AVCAL spent some considerable time working on our submission and it is discouraging to see no reference to the critical role of venture in the innovation system.

Other news

In January I spent a few days in Hong Kong, at the Asian Finance and Private Equity Forum. I also took the opportunity to visit a number of LPs who invest in Australia and to continue to spread the word about Australian PE's performance. The meeting was well worth attending with a significant number of GPs and LPs participating. It was much easier to connect with the LPs compared to the hurly burly of SuperReturn. The Asian Finance Forum itself was really useful with senior financial services people from around the world making up the 2,000+ delegates.

Member engagement opportunities coming up

We're excited that we're soon launching AVCAL Connect - a new series of opportunities that will connect people working in the private equity or venture capital industry. It's for members only so you know you'll be engaging with those in the industry. We're currently planning some tailored networking opportunities so let us know if you're keen to join. Stay tuned for more details.

Come and celebrate with us our 20th annual conference at AVCAL alpha on the Gold Coast. Mark your diaries with the dates 17-18-19 September 2013. Remember, it's members only. Check out the benefits of becoming a member.

Finally, thanks to our Partners for their support of AVCAL in 2013 and beyond - you can see them listed throughout the newsletter.

Kind regards

Katherine Woodthorpe
Chief Executive

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Corporate Partners

   

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ANTI-MONEY LAUNDERING AND COUNTER-TERRORISM FINANCING TEMPLATES

Updated versions of the AML and CTF templates are now available on the AVCAL website. These are available only to AVCAL members and have been approved by the CFO working group. Thanks also to Norton Rose for their work in updating these.

Please note that changes from the prior set of templates are marked up so you can track these changes and accept them as required. These documents are designed as a one size fits all, but you're welcome to make minor modifications to suit your business requirements.

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AVCAL/CAMBRIDGE ASSOCIATES Q3 2012 PERFORMANCE BENCHMARKS

Restricted reports are available to contributing general partners.
The public report

Media release

PE index (for contributing PE GPs only)
VC index (for contributing VC GPs only)
PE and VC quartiles benchmarks
(for contributing PE & VC GPs only)

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BILL FERRIS' NEW BOOK

  

Receive a 20% discount and free shipping of Bill Ferris' new book by purchasing the hardcover or paperback editions before 30 April 2013. Enter 'equity20' as the promo code at the checkout to redeem.

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Data Partner

Philanthropy Partner

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NETWORKING & PROFESSIONAL DEVELOPMENT

Express your interest

VIC networking event
14 March 2013, Melbourne
Registration will open in the coming days

Register now for these great events

Focus on Due Diligence - NEW - limited places remaining
Sydney, 20 March 2013
GP members only (note you must be logged in to register)

This new half-day course will provide a practical guide to structuring and executing a due diligence review. Led by a panel of industry professionals, attendees will learn how to analyse an investment case, assess critical risks and evaluate up-side opportunities.

AVCAL corporate golf day
23 May 2013, Concord Golf Club, Sydney
The famous AVCAL Cup is up for grabs again.

Event partner

Mark your diary

AVCAL alpha 2013 conference - members only
17 (pre-events) 18-19 September 2013, Gold Coast
$2,475 for GPs and partners, $2,860 for corporates (incl. GST)
Registrations open Tuesday 21 May 2013 at 9am
Not a member? Check out the benefits here.

View our calendar of upcoming events

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AVCAL Partners

   

   

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OTHER EVENTS & MEMBER OFFERS

Events

AVCJ's 10th annual Private Equity & Venture Forum
Sydney, 6-8 March 2013

TechConnect 2013
Canberra, Sydney, Brisbane & Melbourne
Select the "special rate for entrepreneurs, start-ups, govt, and R&D" option to pay only $150 + GST for entry

AlwaysOn Australia
Sydney, 10-11 April 2013
Use the promo code 'AOAVCAL' to receive 33% off the registration price.

Australia China Business Week in Shanghai
Shanghai, China, 10-12 April 2013

Brazilian PE & VC Association's annual conference
Sao Paulo, Brazil, 15-16 April 2013

IFC/EMPEA 15th Annual Global Private Equity Conference
Washington, DC, 13-16 May 2013

Offers

View member-only offers

Australian Private Equity Handbook
15% discount for AVCALmembers (promo code is 'AVCAL2')

PE Asia special offer
20% discount for AVCAL members as new subscribers

Guide to Responsible Investment discount
AVCAL members receive 15% off (promo code is 'AVRI15')

AVCAL, L10 Kyle House, 27-31 Macquarie Place, Sydney 2000
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