Norton Rose Fulbright acts for Start Mesh Group on establishment of tech innovation fund

Business May 12, 2016

Global law firm Norton Rose Fulbright has acted for the Start Mesh Group on the launch of its first venture capital investment fund.  The fund is structured as an early stage venture capital limited partnership (ESVCLP) and is aimed at helping start-ups achieve profitability.

Founded in 2014, the Start Mesh Group is managed and operated by its three co-founders – Richard Webb, Paul Devereux and Matt Youill – who have a strong track record of founding, funding and operating small and large business across a range of industries.

The fund will invest in early stage investments and aims to form a diverse and balanced portfolio of venture capital opportunities.  The focus of those opportunities will be start-ups with validated and disruptive ideas; a defensible business model; and global application, as well as those that are managed by committed and passionate entrepreneurs. The preference will be for industry sectors such as consumer profiling and insights; crowd services enablement; asset sharing and utilisation; health, fitness, education and safety; and digital privacy and security.

The new Start Mesh Innovation Fund, set up in collaboration with established SIV fund manager Sumo SIV, will also be operated in line with migration rules aimed at capturing other investors seeking a ‘significant investor visa’.

Norton Rose Fulbright partner Fadi Khoury commented:  

“The fund looks to tap growing interest in technology and innovation investment opportunities.  Investors may also benefit from enhancements to regulatory and tax reforms flagged by Prime Minister Malcolm Turnbull’s Innovation Statement and recently legislated in Parliament.”

Start Mesh co-founder, entrepreneur, and prominent tech investor Richard Webb said:

“We at Start Mesh have been a strong enabler and investor of technology companies globally for the last decade.  The Australian government has taken an enlightened position on the future of technology and innovation in Australia by introducing incentives for investors in this very important asset class.  

Start Mesh is excited to announce their first early stage innovation venture fund to accelerate their work in developing the ecosystem in Australia.  Norton Rose Fulbright has been the perfect partner for us in developing our fund and helping us offer support to more ventures locally.”

For further information please contact:

Alex Boxsell, Senior Manager Corporate Communications, Norton Rose Fulbright in Australia
Tel: +61 (0)2 9330 8165   Mob: +61 (0)414 985 556
alex.boxsell@nortonrosefulbright.com

Notes for editors:

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