Australia-based OneVentures will be targeting $100 million for its newly-launched OneVentures Innovation and Growth Fund II, a statement about the launching said.

The fundraising will be raising the funds from institutional investors and high net worth individuals in the course of the next 12 months. Fund II will be looking for investments in emerging Australian firms who are engaged in the healthcare, education, mobile, media, cloud computing and data, security and privacy, machine learning, sensors and robotics and food security space, the statement said.

OneVentures Innovation Fund I, which was created four years ago as an Early Stage Venture Capital Limited Partnership, was able to secure $40 million. The Innovation Investment Fund of the Australian Government also invested $20 million in Fund I. Successive funding rounds raised $30 million more for the portfolio of Fund I which is composed of eight companies. As an indication of their successful penetration into global markets, two of these firms are now headquartered in Silicon Valley while one is operating out of Boston, the statement said.  

OneVentures Managing Partner Dr. Michelle Deaker said in the statement, "OneVentures is demonstrating a capability to do deals of global significance. Our investors value the technical experience of the partners as well as their proven entrepreneurial and business building experiences in the domestic and international arena. The partners also bring experience and networks of relationships to select highly attractive investment opportunities addressing large global markets, and to manage those investments through to the exit stage."

Meanwhile, OneVentures revealed that Dean Hawkins will now be part of the team as a partner. He served as the worldwide Chief Financial Officer and board member of Adidas in Germany. In those four years that Hawkins was with the company, the market capitalization of Adidas went up to €8 billion from €1.5 billion. He now serves different companies in Australia, the statement said.