Carey Olsen and Langham Hall support Telstra Ventures on launch of new US$350m venture fund
The Fund has raised US$350 million in commitments and aims to expand Telstra Ventures' diversified portfolio of technology focused companies, offering entrepreneurs access to revenue growth and accelerated global reach.
The Carey Olsen team advising on the Guernsey legal and regulatory aspects of the Fund's establishment comprised partner David Crosland and counsel Andrew Tually. David said: "This has been another successful fundraise for Telstra Ventures in Guernsey and is further evidence of Guernsey being a preferred funds domicile for tech-focussed managers. Telstra Ventures has an innovative approach to investing with data science at the core of its investing criteria and we're pleased that such a high calibre promoter with international reach continues to be drawn to Guernsey."
Langham Hall has been working with the Telstra Ventures team since their spin out in 2018 and provides fund administration services to the Fund. Langham Hall’s Head of Guernsey and Private Equity, Jon Young, commented: “The Langham Hall team has worked closely with Telstra Ventures throughout their journey as a new-to-Guernsey fund manager, supporting with the set-up and launch of the Telstra Ventures funds as well as providing the full suite of fund administration services. It’s fantastic to be partnering with such an impressive promoter, with over 80 investments to date across a range of technology companies with a focus on emerging global trends and data.”
Telstra Ventures was established in 2011 as the corporate venture capital arm of Telstra, Australia's telecommunications giant. Following its spin out from Telstra in 2018, Telstra Ventures continues to be backed by Telstra as well as other institutional investors and has offices in Silicon Valley and Australia.