Sydney, Australia-based venture technology firm BlueChilli has launched a new $10m fund.
The vehicle, which has been approved as an Early Stage Venture Capital Limited Partnership by AusIndustry, offers angel investors capital gains tax and tax-exempt status and the opportunity to invest into all of BlueChilli’s start-up investee companies.
Angel investors can also take a stake into one or two of the individual companies. The minimum for an investor is $100k, delivered at a rate of $20k a year over five years.
BlueChilli, which charges 2% per cent in management fees and 20% in carried interest, has engaged Artesian Venture Partners to manage the fund.
Led by Founder and CEO Sebastien Eckersley-Maslin, Blue Chilli is a technology and software development company that creates online web applications and invests in online start-ups.