Fund manager LimeStreet Capital is planning to launch a new international small resources companies fund.
The new fund is likely to invest in companies listed on the Toronto Stock Exchange, the Australian Securities Exchange and AIM, the London Stock Exchange's international market for smaller, growing companies.
"It's an international resources fund, but very much in the mining venture capital space," LimeStreet Capital managing director Stephen Bartrop said.
The launch of the new fund could be as soon as the end of this year, Bartrop said.
"It would be great later this year, but we need to build up some momentum," he said.
LimeStreet Capital's flagship fund is the LSC Australian Resources High-Alpha Fund, which currently has just $1.2 million in funds under management.
But Bartrop said the fund is close to securing a number of industry mandates, among which is a $50 million mandate from an industry super fund operating in the mining space.
"We've got some fairly lucrative industry mandates in the pipeline. We are expecting an acceleration of fund inflows in the coming months," Bartrop said.
Although the fund saw a sharp decline in 2008 it bounced back strongly in 2009 and closed the year with a 108 per cent return, sparking the interest of institutional investors.
Bartrop said he would like to see the firm's flagship fund reach a size of about $250 million before launching a new fund.
