Launch of AVCAL's 2012 Yearbook

Launch of AVCAL's 2012 Yearbook

In partnership with Ernst & Young, we're pleased to announce the launch of the AVCAL 2012 Yearbook, which provides the latest statistics on fundraising, investment and exit trends in the Australian VC and PE industry for the year ending 30 June 2012.

You can view the yearbook and data file here.

We'd also like to acknowledge all the GPs who contributed their valuable time and data to us in the production of this report. Participating GPs who contributed their data can access additional content (note you must be logged in).

Here's a snapshot of key findings from the yearbook:

• Fundraising in FY2012 rose by 59% in FY2012 to $3.3b, led by a small number of new managers. This was the largest amount raised annually since the beginning of the GFC.
• Overseas investors continued to increase their exposure to Australian VC and PE funds, accounting for more than half of all new commitments. However, with many local institutional investors remaining sidelined, some PE managers have continued to delay their fundraising plans.
• Investments by VC and PE funds in FY2012 fell by 24% in FY2012 to $2.9b invested in 146 companies as local M&A activity remained subdued.
• Divestment activity in FY2012 was relatively quiet with 51 companies fully/partially divested compared to 71 companies in FY2011.
• As at 30 July 2012, Australian PE funds had total funds under management amounting to $26.5b while Australian VC funds managed $2.9b. There were 320 companies in all PE portfolios combined, while VC portfolios backed a total of 225 companies.

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