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Oz venture capitalists launch fund

Small Australian tech companies looking to expand may soon have access to a new source of potential funding.

According to Australian business website SmartCompany, Sydney based venture capital firm OneVentures is looking to invest 40 million Australian dollars in up and coming firms.

The fund is looking to pump money into early stage ventures that concentrate on clean tech, life sciences and media sectors.

The company says that it is looking to add value to businesses worth anything from zero to five million Australian dollars.

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