The Telstra-sponsored venture firm expects to raise $350m to $400m for its Fund III in the next few weeks, with backing from institutional investors.
Telstra Ventures, the US-based venture capital firm spun out of telecommunications firm Telstra, is set to close a fund sized at up to $400m, general partner Steve Schmidt told Global Corporate Venturing today.
Schmidt said: “We are about to raise our Fund III, for about $350m to $400m, and we will close that soon, in the next few weeks.”
Formed within Australia-headquartered Telstra in 2011 before being spun out in 2018 with backing from private equity firm HarbourVest, Telstra Ventures…
