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BMY Group Launches $50m Fund to Back Aussie Tech Start-Ups Expanding into China
- Published December 13, 2016 3:02PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
13th December 2016, Financial Review By Yolanda Redrup
Melbourne-based corporate advisory and wealth management firm BMY Group, which targets Asian investors and companies, is raising $50 million for its first venture capital fund that will focus on Australian start-ups whose sights are set on Chinese expansion.
Despite only just launching the fund, the firm has already raised almost $10 million and expects to have closed the first $15 million tranche by January. It plans to have the additional $35 million by mid-2017 when it will also have identified a range of investment opportunities.
BMYG co-founder Eric Gao told The Australian Financial Review there was an untapped desire from Chinese investors to not just buy into real estate in Australia, but also invest in local start-ups.
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About BMY Group
Founded in 2009, BMY Group is dedicated to providing first-class financial and investment news, information and analysis to local and overseas Chinese investors for Australian markets!
BMY Group now offers business and finance news and analysis across multiple platforms with multimedia content, wealth management and corporate advisory services to High Net Worth Individuals (HNWIs), institutional investors and enterprises through its subsidiaries: BMYG Media and BMYG Capital.
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