Australia’s CHAMP Ventures postpones launch of eighth fund by 6 months

 

Australia-based private equity firm, CHAMP Ventures has postponed the launch of its eighth fund by six months, according to a report by AVCJ.

The GP had closed its previous fund in 2012, having raised A$475 million ($360 million), which exceeded its target of A$450 million. It was expected to return to market in the first half of this year, the report added.

Further, the AVCJ report also said that investors were informed of the decision to postpone the fund last week, the report said quoting sources. The move has been linked to succession issues within the firm.

The close of the seventh fund, had come after a span of eight years. CHAMP Ventures Investments Trust No. 6, closed in closed in at A$300 million April 2006.

A major part of CHAMP Ventures’ seventh fund was secured from pension funds, fund of funds and sovereign wealth funds from Asia, the US, the Middle East and Europe, the company had said at the time.

The investment firm is currently investing its seventh fund, targeting equity investments of between $20 million and $80 million, according to the company’s website.

In December last year, CHAMP Ventures acquired New Zealand-based outdoor apparel and equipment supplier Macpac Group. It also participated in the acquisition of Australian quantity surveying company BMT Tax Depreciation .

As part of the CHAMP Group, the firm traces back to 1987, and claims to be one of Australia’s first institutional private equity funds. In November 2009, the AMP Capital Investors private equity team joined CHAMP Ventures. Its affiliate, CHAMP Private Equity, which focuses on larger deals, is currently raising its fourth buyout fund. A first close came earlier this year.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.