News

Issue No. 44 - December/January 2008

Venture brings new venture cap option

A new capital raising mechanism for startups has come into play, as the Australian Small Scale Offerings Board launched in Adelaide.

ASSOB works like a mini-stock market, acting as a buffer between investors and entrepreneurs, and counts individuals and institutions – including Macquarie Group – among 7000 subscribers. Subscription is free.

Speaking at the launch, ASSOB executive Joe Olejnik stressed the “minefield” of compliance issues surrounding public capital raising and said ASSOB aims to provide transparency for investors and entrepreneurs.

ASSOB consultants work with entrepreneurs to refine their offering and aim to raise the capital target within 90 days. Deals can range from $200,000 up to the $5 million disclosure threshold. Most deals are between $200,000 and $2 million.

Charging a fee and brokerage on capital raised, ASSOB handles first and second-round capital raising for startups and expanding firms. Avoiding “desk and chairs” inves...

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