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Viburnum launches A$100m fund

Perth's Viburnum Funds has launced its second fund to invest in SMEs in the state of Western Australia.

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.