Presented by Robert Clark MP		www.robertclark.net

$30 million venture capital fund for IT companies

Victorian information technology companies are to share in a $30 million venture capital fund.

The Acer Technology Partners Fund will be available around Australia, providing financial backing to IT companies with commercial potential in local and overseas markets.

The Fund will be managed by Macquarie Technology Funds Management Pty Ltd from offices in Melbourne and Sydney.

The Minister for Information Technology and Multimedia, Alan Stockdale, said that the fund would help innovative companies to transform good ideas into good business.

He said that the Victorian Government’s strategic approach to technology had resulted in the creation of more than 10,000 jobs in the past four years.

"More than $2 billion has been committed to Victoria’s multimedia and IT industry in the past four years, including investments from some of the world leaders in the high-tech sector," Mr Stockdale said.

(News Release, Office of the Minister for Information Technology and Multimedia, June 29, 1999)