Telstra has revealed the addition of almost one million new mobile services in the six months to December 2011, but Sensis revenues plummeted 24 percent in 12 months.
Despite tight financial markets, Adelaide-based Playford Capital generated more than $12 million in investment capital last financial year, with 70 per cent of it coming from private investors.
While the global financial crisis had taken the wind out of funding
markets – especially in Q4 2008 and Q1 this year – Playford chief
executive Amanda Heyworth said the company had continued to build
momentum through the difficult period.
Using its own investment stake of $1.39 million, the company had
attracted co-investment of $10.8 million for placement in innovative
South Australian ventures.
The $12 million raised last financial year does not include the $7.45
million the company was awarded through the Federal Government’s
Innovation Investment Follow-on Fund (IIFF). Playford won a 12 per cent
share of the total fund on offer through the Department of Innovations,
Industry, Science and Research.
“We have managed to raise as much co-investment in 2008-09 as in any
other year,” Heyworth said . “One of the reasons for the high level of
co-investment is that Playford Capital has a reputation for detailed
due diligence that lowers the risk for its co-investors.”
The money raised my Playford brings to more than $90 million the
company has raised since it was founded, with the rate of co-investment
in Playford projects growing despite the difficulties.
The company’s investment portfolio include a variety of innovators in
sectors ranging from wine and food processing and online marketing to
power management and health technology.
Investments include e-channel, a search engine marketing specialist,
whose Dynamic Creative software enables large, database-rich websites
to automate keyword lists and optimise the performance of advertising
campaigns, and Embertec, which is developing intelligent, power
efficient solutions that target power reduction and the ultimate
elimination of standby power for consumer electronics.
The company is also an early investor in Signostics, which is
pioneering affordable, portable ultrasound devices. The company
recently announced it had secured US Food and Drug Administration
approval for its palm-sized ultrasound product.
David Bass
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