Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

"NZVIF Embarks on Third Investment Round"

10 August 2005

"NZVIF Embarks on Third Investment Round"

The New Zealand Venture Investment Fund (VIF) is calling for proposals from experienced venture capital fund managers or firms to establish and manage a VIF Seed Fund under the VIF Fund of Funds Programme.

"VIF has $35million available for investment and can invest up to $25million into an individual VIF Seed Fund," says VIF Chief Executive, Ms Franceska Banga.

* VIF's investment commitment is conditional on the successful Fund Manager(s) raising a minimum of $20 million from private co-investors for investment in early stage high growth NZ companies. VIF invests on a 1:2 ratio (VIF:private investors). It is expected that there will be strong institutional investor interest in this new investment round and the fund managers selected by VIF.

"We expect 2-3 new investment grade VIF Seed Funds will be established in this round," Banga added.

Information is now being distributed through local and international venture capital networks and to expatriate New Zealanders who may have relevant experience.

VIF advises:

* Guidelines and further information is available from www.nzvif.com .
* Applicants will have until 12th September 2005 to submit proposals.
* As with earlier appointments of Fund Managers, NZVIF will undertake a short listing process, then a full due diligence of the short listed Applicants, to select two or more prospective investment grade Fund Managers.
* Prospective Fund Managers are required to demonstrate their experience, as well as skills in venture capital fund management, capital raising, and offshore links criterion, through which commercialisation of New Zealand's best technology companies can be promoted.

The New Zealand Venture Investment Fund is a 'fund of funds' established in 2001 to accelerate the development of the venture capital market in New Zealand. Through VIF, the Government is investing up to NZ$100 million, alongside private investors, in innovative New Zealand businesses with high growth potential.

VIF invests through individual investment funds (VIF Seed Funds) operated by private sector fund managers, appointed by VIF. Five of these funds are up and running: iGlobe Treasury Management, TMT Ventures, No 8 Ventures, Endeavour iCap and BioPacificVentures.

Through the VIF Programme, over a $160 million has already been committed for investment into new innovative companies developing high value added products and services. Twenty three (23) New Zealand high growth companies have received a total of $56 million of investment through the VIF programme since it began.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop 3.0: How You Can Help Scoop’s Evolution

We have big plans for 2018 as we look to expand our public interest journalism coverage, upgrade our publishing infrastructure and offer even more valuable business tools to commercial users of Scoop. More>>


Statistics: Butter At Record $5.67/Block; High Vegetable Prices

Rising dairy prices have pushed food prices up 2.7 percent in the year to October 2017, Stats NZ said today. This followed a 3.0 percent increase in the year to September 2017. More>>

ALSO:

Science: New Research Finds Herbicides Cause Antibiotic Resistance

New University of Canterbury research confirms that the active ingredients of the commonly used herbicides, RoundUp, Kamba and 2,4-D (glyphosate, dicamba and 2,4-D, respectively), each alone cause antibiotic resistance at concentrations well below label application rates. More>>

ALSO:

CO2 And Water: Fonterra's Environment Plans

Federated Farmers support Fonterra’s bold push to get to zero emissions of CO2 on the manufacturing side of the Co-operative, both in New Zealand and across its global network. More>>

ALSO:

Fisheries: Decision To Delay Monitoring ‘Fatally Flawed’

Conservation group representatives say a decision by the new Minister of Fisheries, Stuart Nash, to delay implementation of camera monitoring of fishing efforts in New Zealand is ‘fatally flawed’. More>>

ALSO:

Kaikōura Quakes: One Year On

State Highway One and the railway were blocked by damage and slips and the Inland Road suffered significant damage. Farms, homes and businesses suffered building and land damage. Power and internet went down, drinking water systems, sewage systems and local roads were all badly affected... More>>

ALSO: