Viburnum Funds, an Australian private equity fund manager, has launched Viburnum Private Equity Fund II, an A$100 million ($95 million; €61 million) fund for making investments in Western Australia.
The firm is looking to have a first close for its fund next month, and expects a final close before the end of the year.
Marshall Allen, managing director of Viburnum Funds, told PEO that the fund is targeting sector-agnostic investments in small and medium enterprises across the board, typically in companies with an enterprise value of less than A$50 million. It will make growth and replacement capital investments in Western Australian businesses.
The firm's Viburnum Private Equity Fund I closed on A$51 million and is fully committed in five deals, Allen said.
Viburnum's past deals include investments in Austrell Group, a holding company that owns four businesses engaged in environmentally friendly construction and building products and services; Surtron Technologies, a supplier of drilling services to the mining, construction, and oil and gas industries; Dome Coffees, a casual dining café chain; and JP Private Wealth, a wealth management and investment company.
Viburnum Funds is an associate of Wyllie Group, a family-owned boutique investment company based in Perth. The group has interests in property, property development, financial services, share trading, and strategic investments in public and private companies.