Powerhouse Ventures (ASX:PVL) finalized the preliminary structure for its Fund Business Unit's flagship private asset fund with a combined seed asset contribution of around AU$20 million, to be called the "Critical Infrastructure Opportunities Fund" under its Burleigh Ventures brand, according to a Monday Australian bourse filing.
The firm will seek to transfer its investment positions in around nine private companies worth in aggregate around AU$9 million in exchange for initial units in the fund. Portfolio companies include Skykraft, Quantum Brilliance, Cirrus Materials Science, Regenco, Liquid Instruments, and Urbix Resources.
The firm will seek to raise additional capital into the fund to strengthen its position in the existing portfolio companies. It will also have an Australian unit trust feeder. The fund will be structured as an internationally domiciled fund.
Its shares fell 3% on market close on Monday.