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NZVIF Calls for Registrations of Interest

NZVIF Calls for Registrations of Interest to Manage First Venture Investment Funds.

The New Zealand Venture Investment Fund (VIF) is now calling for registrations of interest to manage its first venture investment funds.

Launched earlier this year to accelerate the development of New Zealand's venture capital sector, VIF is seeking professional venture capital fund managers to operate a series of funds that will invest in the seed and start up end of the New Zealand technology and innovation sectors.

VIF General Manager, Franceska Banga said that the call for registrations of interest is being widely advertised with the expectation of attracting interest from professional venture capital fund managers both in New Zealand and overseas.

“Through the registration process we are seeking professional venture capital fund managers who can work in partnership with us, to achieve our goal of developing a larger pool of skilled people in New Zealand's venture capital market and to facilitate the commercialisation of innovations from Crown Research Institutes, Universities and the private sector,” Ms Banga said.

The successful fund managers will manage the commercial operations of the new funds that will combine private sector and government investment capital. These fund managers will be responsible for investing in funds in new technology companies with high growth potential.

Fund managers will be selected primarily on commercial merit judged by their ability to raise private sector investment capital for the individual funds and demonstrated success in the management of venture capital funds,” Ms Banga said.

This call for registrations of interest begins the process of engagement that will lead to the launch of the first New Zealand Venture Investment Funds early in 2002. Further information on the registration process can be found at www.nzvif.com

Ends

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