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…

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