Future Capital Development Fund

14 December 2010, Sydney; Australia’s leading venture accelerator, Future Capital Development Fund (FCDF), today announced it has invested in two Upstart companies, Imorial.com and EventArc.com.

Domenic Carosa, CEO of FCDF, is an internet pioneer and strongly believes that the forthcoming internet boom will be considerably different to the original.

“The next internet boom will be based upon fundamentals which include real profits” comments Domenic.

Imorial.com is a site where memorials can be created at no cost for people and pets. Imorial.com has been operating for over two years and has a growing share of this significant market. As well as a consumer focus it has a business to business model currently establishing business relationships with funeral homes.

EventArc.com is a self-service online event registration and ticketing platform. It has generated over AUS$4million in transactions since launch in November 2009.

At the recent Web 2.0 Summit in San Francisco there was little doubt that the second Internet boom will be just as transformative as the first. It was noted by internet luminaries who presented at the conference, including Eric Scmidt, Chairman & CEO Google, Carol Bartz, CEO, Yahoo!, Mark Zuckerberg, CEO, Facebook, Evan Williams, CEO Twitter, that there is a huge amount of money and energy pouring into the Internet start-up economy right now.

“There are plenty of good internet companies with good cashflow that are highly scalable, where their revenue can be doubled and tripled without increasing costs”.

FDCF invests in young but established internet companies, known as Upstarts, which have customers and transactional revenue and do not rely on advertising revenue.

FCDF investee companies must be revenue generating and the fund invests anything from a few hundred thousand dollars to a million, usually taking a significant minority stake. As well as providing capital, practical assistance is provided to assist the company’s expansion.

An ASX listing of FCDF is expected in late 2011 or early 2012 and it is expected to raise between $10m and $20m depending on market conditions.

Imorial.com and Eventart.com join the current stable of companies which include CheapHotels.com.au, OurWishingWell.com, SMS Central, MyGuestlist.com and Domain Folio No. 1.