A key private equity and venture capital index measuring returns in Australia rose by 2.90% in the third quarter of 2012, according to a report from the Australian Private Equity and Venture Capital Association. For the 12 months ending September, the index rose by 6.44%, but trailed the S&P/ASX 300 Index’s gain of 14.46%.

The Australian Private Equity and Venture Capital Association has welcomed the Commonwealth Government’s announcement to fund up to $100 million to venture capital funds to commercialise Australian innovation and research. The funding from the Innovation Investment Fund (IIF) program must be matched by private sector investors before VC fund managers can invest the IIF funds [...]