Document ID: chunk:federal_register_of_legislation:F2009B00251:body:0:p7
Version: federal_register_of_legislation:F2009B00251
Segment Type: other
Provision Reference: 
Character Range: 18141–21722

(d) require that the applicant has an understanding of and experience in dealing with issues relating to Australian and international technology investments, products, services and markets;

         and amongst other things require that the applicant has expertise and experience in the following:

              (e) actively seeking out and investigating eligible investments, including linkages and networks with eligible institutions;

              (f) developing and implementing equity investment strategies to achieve returns from eligible investments;

              (g) the provision of mentoring services in areas such as financial management, human resources, intellectual property management and path to market;

              (h) the development and implementation of successful growth and recovery strategies for eligible companies and eligible projects;

              (i) the successful management of investment portfolios;

              (j) exiting from investments through third party transactions such as initial public offerings and trade sales;

              (k) the specific technologies which will be the investment focus of the licensed fund;

              (l) developing working relationships with technologists and senior management in eligible institutions and their advisers;

              (m) providing advice to technology-based businesses and/or commercially focused research projects;

              (n) commercialising technology investments, including those at the pre-seed stage; and

              (o) linkages or networks to second stage investment sources such as venture capitalists, for the provision of follow-on investment funds,

         and has the capability to service eligible companies and eligible projects in geographic areas identified as a focus of the proposed fund.

         16.               The Board may, when considering an application for a licence:

             (a)                take into account experience, expertise, abilities and any other matters the Board considers relevant when assessing an applicant; and

             (b)               attribute to particular categories of experience, expertise, abilities or other matters set out in the criteria or taken into account under clause 16(a), a higher level of relative importance than other such categories or matters.

         17.               The Board must include in the PSF guidelines details of the information to be provided by applicants for a licence.  That information must include:

             (a)                the key personnel of the proposed fund manager, including their roles, terms of employment and responsibilities;

             (b)               the amount of Commonwealth program capital required;

             (c)                the amount and sources of the privately sourced capital raised or proposed to be raised; and

             (d)               a business plan that includes details of:

(i)                 the timing of investments;

(ii)               the level and timing of payment of annual fund management fees; and

(iii)             the scope of the services to be provided by the fund manager.

         18.               Without limiting clause 8, the Board may, from time to time, include other requirements relating to applicants and applications in the PSF guidelines.

Government sourced capital

         19.               Where in the opinion of the Board an amount claimed by an applicant to be privately sourced capital is, or includes an amount of, government sourced