Gresham Technology Management has announced the closure of its new Technology Investment Fund with $63.2 million committed to the new venture
The fund has been designed to allow investors to make the most of the boom in technology stocks and will invest in US and Australian Technology stocks as well as start-ups and pre-IPO companies.
The fund attracted a high number of individual investors as well as institutional buyer according to the Chairman of Gresham Technology Management, James Graham.
"We are delighted with the strong response that we have received from investors around the country eager to access the long term growth prospects of the technology sector," he said. "We believe that the Technology Investment Fund has filled a real void in the market for a professionally managed vehicle providing diversified exposure to the sector."
According to Paul Davis, the fund's Investment Manager, the strong response to the offer and the current market conditions are likely to be favourable for the fund.
"The timing of this offer has been excellent and, given the recent downward correction in the NASDAQ 100 Index, I am no looking forward to some good investing opportunities in the technology sector over the next couple of months."
