5th March 2010

The Australian Small Scale Offering Board (ASSOB) has announced that well known, North-Sydney based Chartered Accountants, Duncan Dovico, have joined as accredited ASSOB sponsors, giving them access to one of the country’s most valuable capital raising platforms.

ASSOB sponsors facilitate the listing of companies onto the ASSOB capital raising platform.

ASSOB national business development manager, Joe Olejnik says professional service firms are becoming increasingly aware of the added benefits of providing their clients with a proven path to access equity capital.

“Many of the professional service firms around the nation have existing clients that would benefit greatly by raising venture capital. By becoming an accredited ASSOB Sponsor they are providing their clients with an extremely valuable service – the ability to seek equity investors in a cost-effective and compliant environment,” Mr Olejnik says.

“ASSOB is a proven capital raising platform which has helped hundreds of unlisted Australian companies raise almost $100 million of equity capital from high-net-worth individuals, sophisticated investors and self-managed super funds in order to take their companies to the next level of development”.

“We’ve made changes to ASSOB that now allow professional services firms - such as Duncan Dovico to access the ASSOB platform and assist their unlisted clients to seek investment funds through a compliant, transparent and proven process.”

“We are very pleased to have Duncan Dovico join the Australian Small Scale Offerings Board as an accredited sponsor. Duncan Dovico has been involved in providing professional accounting services to SME Australian companies for over 20 years. Their depth of experience will be of considerable value to companies seeking to gain admission to ASSOB,” Mr Olejnik said.

Tony Camphin, who heads up business and strategic planning at Duncan Dovico says he and his colleagues at the firm are looking forward to working with ASSOB to help both existing and new clients raise investment capital to fund the growth of their businesses.

“Certainly, the ability for us to broaden our service offering to assist our existing client base was a major factor in deciding to join ASSOB, however, being able to increase our potential client reach was also a significant reason for us,” Mr Camphin says.

“We work with a large number of unlisted companies, and sometimes capital raising for SME’s is seen as an arduous task to facilitate – our affiliation with ASSOB will certainly simplify this process for us and most importantly our clients.”

Mr Olejnik says one very interesting outcome ASSOB have seen as a the recent of the credit crunch is companies looking for other ways of funding the growth of their business, rather than just taking the usual route and going directly to the banks.

“The hesitance of the banks to lend to SME’s has opened a lot of entrepreneur and business owners eyes to sourcing seed, expansion or growth capital by raising equity finance rather than via traditional debt funding secured against personal assets.” Mr Olejnik says.

“For too long now the ability for Australian SME’s to raise equity capital has not been widely known let alone understood. ASSOB’s primary aim is to ensure both unlisted companies and the professional advisers assisting them are given the necessary tools, platform and support to make the most of this tremendous method of funding growth.”

A recent example of just one of the high-calibre, Australian companies that has successfully raised venture capital via ASSOB was Preshafood (ASSOB:PRE). This company open and closed-out their $1.5M equity capital raising in only seven weeks and was over-subscribed by $1 million after being admitted to the ASSOB platform.

Mr Olejnik said that ASSOB is looking to expand their number of accredited sponsors nationally so as to provide a comprehensive service to high-growth Australia companies seeking capital; thus ensuring many of the two million-plus Australian SME’s are well capitalised and able to take full advantage of opportunities that arise in the recovery phase of the economic cycle.

“This is a very exciting time for ASSOB. Right now we’re looking for professional advisory firms such as accountants, corporate advisers and lawyers  around the country to help strengthen these companies’ positions – our client base is not only set to significantly expand but I believe is also set to raise a great deal of investment capital over the next 12 months,” Mr Olejnik says.

ASSOB is Australia's largest and most successful capital raising platform specialising in assisting unlisted companies attract private equity or venture capital investment, typically in the range of $200,000 to $10 million.

Since formation in 2005, ASSOB has benefited many Australian SME’s by providing a cost effective and proven process for them to raise capital from investors, often without the need for a costly prospectus.

Further information about raising equity capital via ASSOB, investing in ASSOB-listed matters or becoming an accredited ASSOB sponsor is available on the ASSOB website (

The Australian Small Scale Offerings Board Limited

The Australian Small Scale Offerings Board (ASSOB) is the largest and most successful capital raising platform for showcasing equity investment opportunities in high-growth, unlisted Australian companies. To date via a national network of Accredited ASSOB Sponsors almost $100M of equity capital has been raised via a network of over 12 500 high net-worth-individuals, angel investors and sophisticated investors in almost every industry sector including mining, IT&T, finance, green technologies, food & beverage. ASSOB also operates the only Secondary Sales platform in Australia servicing the unlisted sector and providing a mechanism for investors to conduct share transfers in unlisted securities.