Telstra's corporate venturing unit has secured $50m for a fund that will function as a companion to the second fund it began raising last year.
Telstra Ventures, Australia-based telecommunications firm Telstra’s corporate venturing unit, has raised $50m for a sidecar fund, according to a regulatory filing on Wednesday.
The fund, dubbed Telstra Ventures Fund II Sidecar, has three investors including a commitment from a general partner that would be Telstra itself. The corporate has not dislcosed details of the vehicle but it will likely provide follow-on funding to existing investments from the unit’s second fund.
Formed in 2011, Telstra Ventures claims to be the largest…
