February 21, 2017 Comments Off on Australian Ethical backs Right Click Capital’s new fund
Amidst growing calls for superannuation/pension funds to accelerate their exposure to the venture capital sector, Australia’s biggest ethical fund, Australian Ethical has recently ventured into the tech startup arena by investing in a major new fund from Right Click Capital. The institutional fund manager has $1.7 billion in funds under management and more than 30,000 investors. David Macri, Australian Ethical’s chief investment officer said, “we are excited to be able to partner with Right Click Capital. During our due diligence process we were extremely impressed with their data-driven approach and the vast global networks at their disposal. We look forward to developing this partnership and are proud to support the growing innovation industry as our ‘old-economy’ evolves.” Right Click Capital partner Benjamin Chong said the key to success in this sector is to invest selectively in early stage companies that exhibit the characteristics proven in Australia and globally to correlate with successful investor outcomes. The investment signals that Australian superannuation/pension funds have started to warm to the local venture capital sector.
March 7, 2016 Comments Off on Hipages acquires Startlocal
Sydney-based hipages, Australia’s leading marketplace for tradies, has acquired business directory StartLocal for an undisclosed amount. Startlocal was founded in 2008 and has previously received an undisclosed amount of funding from venture capital firm Right Click Capital. StartLocal has a database of over 180,000 local businesses and 600,000 monthly visitors, all of which will be added to hipages. According to hipages, the integration is good fit with its existing platform and gives the company “an opportunity to expand into other fields in the future.” The acquisition aims to further strengthen hipages’ leadership in Australia’s booming on-demand market.
You can read about the acquisition here.
November 3, 2015 Comments Off on Australia’s innovation agenda
July 7, 2015 Comments Off on Netccentric delivers successful IPO
Netccentric enjoyed a successful debut on the Australian Securities Exchange (ASX) yesterday. The shares in the Singapore-based digital media company gained 15% in value on the first day of trading and closed at 23 cents or three cents higher than their issue price. From an initial minimum target of A$7.5 million, the company raised A$12.5 million. Founded in 2006 by Timothy Tiah and Cheo Ming Shen, Netccentric is the company behind blogging pioneer Nuffnang, as well as ChurpChurp, Reelity.tv, Ripplewerkz and Dayre. In 2014, the company hit over A$11 million in revenue and enjoyed a 400% rise in profits compared to 2013. The money raised from the IPO is actually the company’s first external capital and will be used to expand the business specifically in Asia and invest in new product development.
Right Click Capital acted as the corporate advisor on the Netccentric (ASX:NCL) IPO.
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