Global investment crowdfunding platform OurCrowd has launched a new fund targeting the early stage sector in Australia. The fund, labeled “Our Innovation Australia Fund” is an early stage venture capital limited partnership (ESVCLP) that will benefit from capital gains and tax programs associated with investing in Aussie startups.
OurCrowd, led by international investor Jon Medved, entered the Australian market in 2014. OurCrowd is one of the largest investment platforms in the world having raised over $220 million for early stage companies. In Australia, the platform has targeted high net worth investors only but the Australian government is currently reviewing the regulatory structure for crowdfunding possibly providing broader access to deals and investors.
Fintech, in general, has been a point of interest for Australia. Earlier this year the Turnbull government formed an Innovation Committee seeking to boost Fintech development.
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