<article>Non-profit <a style="color: #000080" href="http://www.dealstreetasia.com/stories/angel-investment-in-start-ups-in-india-hits-five-year-high-report-48967/" target="_blank">angel investment </a> network Sydney Angels has launched its second fund <a style="color: #000080" href="http://www.dealstreetasia.com/stories/corstone-capital-closes-its-11th-fund-at-124-5m-to-invest-in-asian-firms-with-ma-focus-29070/" target="_blank">Sidecar Fund 2</a> to invest in early stage startups and has set a target to raise up to $20 million for the fund.</article>

Non-profit <a style="color: #000080" href="http://www.dealstreetasia.com/stories/angel-investment-in-start-ups-in-india-hits-five-year-high-report-48967/" target="_blank">angel investment </a> network Sydney Angels has launched its second fund <a style="color: #000080" href="http://www.dealstreetasia.com/stories/corstone-capital-closes-its-11th-fund-at-124-5m-to-invest-in-asian-firms-with-ma-focus-29070/" target="_blank">Sidecar Fund 2</a> to invest in early stage startups and has set a target to raise up to $20 million for the fund.
According to a report from Australia Financial Review on Tuesday, the fund is part of Australia&#8217;s largest startup investor network&#8217;s Sidecar Funds.
The earlier fund, Sidecar Fund 1 is reported to have invested $8 million in 27 startups. The fund was launched in 2012.
The newly announced Sidecar Fund 2 expects to lock in an initial $10 million tranche by February. It will co-invest in startups and 110 high-net-worth individuals that are currently members of the Sydney Angels.
“We believe that Sidecar Fund 2 will similarly provide investors with opportunities to support promising Australian startups as they scale innovative ideas into businesses of great value,” Sydney Angel and Sidecar Fund investment committee member Richard Dale said in the report.
Also, the second fund would be used to reinvest in some of successful <a style="color: #000080" href="http://www.dealstreetasia.com/stories/cradle-get-six-more-co-investment-firms-to-put-in-3-26-mn-together-in-tech-startups-59853/" target="_blank">startups</a> that the network had invested in its first round. This would be along with backing new companies.
Among the successful startups from the first round were Ingogo, Venuemob, Jayride, Instaclustr, CriticalArc, Clarity Pharmaceuticals and Collaborate.
In fact, the startups have gone on to raise an additional $85 million in equity, on top of the $8 million the Sydney Angels&#8217; fund has deployed.
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Non-profit angel investment grouping Sydney Angels has launched its second fund Sidecar Fund 2 to invest in early stage startups and has set a target to raise up to $20 million for the fund.

Sydney Angels targets to raise $20m Sidecar Fund 2 for early stage startups

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Sydney Angels targets to raise $20m Sidecar Fund 2 for early stage startups

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