Parallel Capital No.1 was awarded the first unconditional registration of an Early Stage Venture Capital Limited Partnership (ESVCLP) in November 2008.

The Early Stage Venture Capital Limited Partnerships program is aimed at stimulating Australia’s early stage venture capital sector. It makes available to fund managers a world class structure for venture capital funds.

A venture capital fund registered as an Early Stage Venture Capital Limited Partnership receives flow-through tax treatment—that is, it is not a taxing point.

Investors (limited partners) in an Early Stage Venture Capital Limited Partnership are exempt from tax. The manager is entitled to claim their carried interest in the fund on capital account rather than revenue.

For further information about the Early Stage Venture Capital Limited Partnership, visit the AusIndustry website at www.ausindustry.gov.au. Click on ‘AusIndustry products’, which contains an alphabetical listing of all AusIndustry programs, and follow the links to the Early Stage Venture Capital Limited Partnership.

Alternatively, contact the Venture Capital Inquiry Line on(02) 6213 6609 fax (02) 6230 6428 or email VentureCapital@innovation.gov.au