“It’s a sore point,” the person said, adding that the fund had still substantially raised its funds from before the raise.Īsked about the raise, Folklore’s managing partner, Alister Coleman, would not address the fund’s size, saying instead that the firm had closed the fund in December 2021 and was now deploying it. One industry source, who spoke on condition of anonymity, said Folklore had raised about 30 per cent less than it wanted. Folklore Ventures, a mid-sized firm, set out to raise a fund in early 2021 and never publicly disclosed the outcome. Raising troublesīut capital raising is not guaranteed to go as planned, even in better markets. And a source familiar with its operations said Five V Capital, a firm that does private equity and venture capital, was close to finishing a $50 million fund to invest in business software firms. The Australian Financial Review can also reveal Scale Investors, another syndicate focused on female founders, hopes to raise a $10 million fund. Side Stage Ventures, which began as a syndicate of individual investors, has almost finished raising a fund of about $30 million, according to industry sources. She said there was a lot of demand for a debt fund, which start-ups traditionally turn to when raising equity is harder, or more expensive. Dr Deaker’s firm, which was the first to start in Australia after the GFC, is raising a $200 million debt fund, but expects $150 million is more likely if it misses out on an institutional investor’s cheque.
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