By Carrie LaFrenz
Wilson Asset Management lead portfolio manager Oscar Oberg is expecting big things from sovereign cloud services provider AUCloud after backing the micro cap in its pre-float fund raise.
WAM Microap Fund tipped in $2.5 million via a cornerstone placement. Separately, AUCloud this year has raised nearly $7.5 million via a rights issue, in which serial entrepreneur and founding investor Bevan Slattery took up his full rights.
AUCloud initially raised $10 million in 2017 from seed investors including Icon Group cancer care provider founders Cathie Reid and Stuart Giles; a personal investment from from Paradice Investment Management fund manager, James McBeath and Mr Slattery. A year later it raised another $10 million.
Read more in the Australian Financial Review.