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Venture Axess taking locals to the market

VENTURE Axess, which bought local venture capitalist Tech Start Fund Managers earlier this year, is hoping to take a local medical company to the Australian Stock Exchange.

It is also looking at taking at least one other WA company to a listing on UK-based second board, the Alternative Investment Market.

Venture Axess CEO Geoff Mullins, who has been in Perth for the past three weeks on a fundraising expedition, said the company was in the process of investing in a WA company and would look to take it to the ASX.

However, he would not say any more about it other than that it was a “medical investment”.

“We also hope to get part of our investment in [Perth-based] Datacast.net listed on the AIM,” Mr Mullins said.

He said there would also be more WA companies going onto the Newcastle Stock Exchange.

Mr Mullins said one of the companies in the Venture Axess group was due to take a 5 per cent holding in the NSE and that VA and one of its funds VA1 would be listed on the exchange.

VA is also looking to list on the AIM.

“In our main development fund we have 12 companies and seven of those are from WA,” Mr Mullins said.

The “medical investment” will be its eighth WA investment.

“We have three companies within the fund that we are looking to put onto the NSE,” Mr Mullins said.

“From there we’ll springboard them onto the AIM. We’re looking at a two-year time frame for that.”

He said the deal flow out of WA was looking good.

“We’re actively looking at another half a dozen possible deals,” Mr Mullins told WA Business News. “We see great opportunities and emerging business here.”

The Newcastle Stock Exchange has been back in business since 2000 and aims to list companies that cannot qualify to enter the ASX.

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