BLUE SKY TO MANAGE $50 MILLION SOUTH AUSTRALIA VENTURE CAPITAL FUND

BLUE Sky Alternative Investments (ASX: BLA) has been selected to manage South Australia's new $50 million Venture Capital Fund (SAVC).

The SAVCF will support local ventures with high growth potential to secure funding and accelerate growth into national and global markets.

As part of the deal Blue Sky, which is number 24 on our 2017 Brisbane Top Companies list, will expand its presence in Adelaide through its subsidiary Blue Sky Venture Capital with employees dedicated to the SAVCF.

Brisbane-based Blue Sky will work alongside local businesses and organisations to identify high growth potential South Australian companies for investment and help attract additional private sector funding from investors.

South Australia Premier Jay Weatherill says the SAVCF will stimulate the local economy.

"The Venture Capital Fund will support our innovative businesses to become more competitive and reach new markets, stimulating economic activity and job creation for our state through government and private sector co-investment," says Weatherill. Read more

David Simmons - Business News Australia - 7 July 2017