Stone Ridge Ventures has achieved an exit for one of the early investments in its Innovation Investment Fund (IIF). Brisbane based Runge, a leading provider of software and consulting services to the mining industry, has completed the acquisition of Fractal Technologies, including the existing team based in Perth. Fractal Technologies was one of the first companies to provide 3D visualization and spatial database software to the mining and exploration industries.

SRV IIF was the sole investor in Fractal and helped grow the business to substantial revenues and position the company for the exit to an industry player. In 2002, after the initial investment by SRV IIF, Fractal was restructured into two businesses: Fractal Technologies, which provided the 3D visualization and spatial database software, and GeoInformatics, a leading mining explorer using the Fractal technology for competitive advantage. Fractal Technologies will continue to operate as a subsidiary of Runge based in Perth.

“Our investment in Fractal was one of our first. We are very happy that we have helped Fractal grow and evolve. We believe the acquisition by Runge will see even broader use of the Fractal products and we are glad to provide a positive return to our investors”, said Rob Newman, Investment Director – Stone Ridge Ventures.”

Further information on the acquisition is available at:

http://www.fractaltechnologies.com/runge_acquires_fractal.93.html

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