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Tech startup advisory group StartMesh will raise $20 million for a new fund to back early stage startups after being encouraged by tax incentives in the government’s National Innovation.

The organisation, which was launched in 2014 by three former startup founders Richard Webb,  and Matt Youill, will structure its fund as a so-called early stage venture capital limited partnership (ESVCLP,) which attract favourable tax treatment since the government’s announcement last December.

The company is being advised by global law firm Norton Rose Fulbright as it seeks to raise the fund and structure it to provide a diverse portfolio.

Mr Webb said the fund will target early stage investments in startups with “validated and disruptive ideas.” The investors will judge potential companies based on them having a defensible business model, potential for global application and having committed and passionate entrepreneurs leading them.

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