Guernsey's reputation as a home for tech-focused fund managers has been reinforced with the successful launch and final close of Telstra Ventures Fund III.

The fund has raised $350 million in commitments and aims to expand venture capital firm Telstra Ventures' diversified portfolio of technology-focused companies, offering entrepreneurs access to revenue growth and accelerated global reach.

Carey Olsen and Langham Hall advised Telstra Ventures on the launch. Carey Olsen Partner David Crosland, who led the team in advising on the Guernsey legal and regulatory aspects of the fund's establishment, said the launch was further evidence of Guernsey being a preferred funds domicile for tech-focused managers.

“Telstra Ventures has an innovative approach to investing with data science at the core of its investing criteria and we're pleased that such a high-calibre promoter with international reach continues to be drawn to Guernsey,” he added.

Telstra Ventures was established in 2011 as the corporate venture capital arm of Telstra, Australia's telecommunications giant. Following its spin out from Telstra in 2018, Telstra Ventures continues to be backed by Telstra as well as other institutional investors, and has offices in Silicon Valley and Australia.

Langham Hall has worked with Telstra Ventures since its spin out in 2018 and provides fund administration services.

Langham Hall Head of Guernsey and Private Equity Jon Young said: “It's fantastic to be partnering with such an impressive promoter, with over 80 investments to date across a range of technology companies with a focus on emerging global trends and data.”

For more information about Guernsey's finance industry please visit www.weareguernsey.com.

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