Saturday, 17 March 2018 Sydney

GO NSW Equity Fund makes first investment in agribusiness::

An investment from the GO NSW Equity Fund in a NSW Wagyu beef agribusiness will ultimately breed the largest full-blood Wagyu cattle herd outside of Japan.

The NSW Government’s GO NSW Equity Fund will take a $3.3 million stake in Stone Axe Pastoral, a Wagyu beef agribusiness in Ebor.

The investment will allow the business to expand in and around Ebor in regional NSW, establishing the area as a major player in Australia’s Wagyu export industry.

Deputy Premier and Minister for Small Business and Regional NSW John Barilaro said Stone Axe Pastoral would create 76 full-time jobs over the next five years.

Together with fund partners First State Super and ROC Partners, the NSW Government launched the $150 million GO NSW Equity Fund in 2017 to invest in business with high-growth potential. This is the fund’s first investment.