Acorn Capital raises $37.2m

The Melbourne-based investment firm has held a final close on its debut private equity fund.

Acorn Capital has corralled AUD52.5 million ($37.2 million, €32.8 million) for its Acorn Capital Expansion Platform, against its target of AUD50 million ($35.5 million; €31.3 million).

The fund will invest in micro-cap start-ups in Australia.

The fund received commitments from high net-worth individuals and family offices.