Corporate venturing unit Telstra Ventures has transferred its assets into a partnership with HarbourVest reportedly sized at $500m.
Telstra Ventures, the corporate venturing arm of Australia-based telecommunications company Telstra, channelled its activities into a partnership with private equity firm HarbourVest today.
The size of the vehicle will be A$675m (approximately $500m), according to the Australian Financial Review (AFR), which reported that HarbourVest will pay for $62.5m for a 25% stake in the vehicle.
The entities have each invested a further $92m in the fund, and Telstra is expected to come out with a 62.5% stake and HarbourVest 32.5%,…
