Artesian will act as the fund manager, and ilab will select and guide start-up companies through its operational programs, facilities and mentor networks. “We are trying to offer investors a really diversified exposure to start-up opportunities across Australia and ilab, and Queensland is an important part of that program,’’ Artesian Venture Partners managing principal Jeremy Colless said.
UniQuest chief executive Dean Moss said start-ups across the state would benefit from the new fund, which was expected to begin operating this year. “Artesian provide the necessary capital to de-risk at that early stage, that initial market exposure, and that is the most critical stage for these entrepreneurs,’’ Dr Moss said.
He said the purpose of the $10m fund, which grew in size from earlier plans, was to seed the start-ups that came through the ilab program. “But equally, or even more importantly, it is a follow-on fund and a co-investment fund that will invest at later stages at angel rounds and even out into early series A alongside other investors who invest into these start-ups,’’ Mr Colless said.
Read more here: Business Spectator