Dipping into the Blogpond

An interesting article by Ben Woodhead at Australian IT today entitled Funds Find $150m for Local Talent. An exerpt from the article;

TECHNOLOGY venture capitalists are gearing up to raise hundreds of millions of dollars in fresh funding as they chase investment opportunities in Australia’s growing pool of entrepreneurial talent.

Venture firms are looking to open new funds worth as much as $150 million and are eyeing off targets across many sectors, including internet plays that are often referred to by the catch-all Web 2.0 tag.

US investment managers eager to prove their worth are also showing an interest in local companies, and expat Australians with experience in international markets are adding to the ranks of savvy entrepreneurs.

Australian venture capitalists that plan to open new funds over the next 12 to 18 months include Technology Venture Partners (TVP), Divergent Capital, Starfish Ventures and Kestrel Capital (formerly Nanyang Ventures).

They hope to raise up to $330 million between them.

The article also talks about “web 2.0”.

This is great news for Australian Internet Startups.