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

 

Accelerating funding for new business ventures

16 September 2008

Accelerating funding for new business ventures

Up to $8 million is to be invested into start-up businesses under a partnership between a new Nelson-based angel investment group, Venture Accelerator Ltd, and the New Zealand Venture Investment Fund.

Venture Accelerator Ltd is an angel investment group bringing together a number of highly successful business people now residing in the top of the South Island.  Shareholders come from Nelson and Blenheim areas.

NZVIF chief executive Franceska Banga said the partnership with Venture Accelerator increases the capital available for new start-up businesses in the Top of the South Island and throughout New Zealand.

“Venture Accelerator Ltd is a network of private investors investing in early stage businesses.  They bring considerable business and entrepreneurial experience, and are looking to be very active in searching for and investing in exciting new companies.

“While the group is Nelson-based, it has close links with angel investor groups in other centres and has already been involved in co-investment projects throughout New Zealand. These groups connect start-up ventures with willing investors to facilitate the funding and success of emerging companies.

“Under the partnership, both Venture Accelerator Ltd and NZVIF will each invest up to $4 million into high-potential companies.”

Venture Accelerator Ltd chief executive Mark Houghton-Brown said the group has a passion for the sustainable development of the regional economy and will focus on innovative companies offering significant & progressive solutions where the investment can add significant value.

“New Zealand is generating wonderful innovation but many prospective start-up companies struggle to get their ideas to market successfully, because of the difficulty in finding willing partners with the contacts and the capability to assist them.

“At the same time individual investors often find it difficult engaging with local entrepreneurs in a satisfactory way because of the lack of infrastructure and support. The opportunities for both sides are considerable.

“Venture Accelerator Ltd comprises highly successful business people from the ‘top of the south’ keen to invest in exciting new ventures. Not only do we bring capital, but we also have considerable skills and experience, in a range of sectors, which will be of benefit to helping young companies grow successfully.”

Venture Accelerator Ltd’s partnership with NZVIF is through NZVIF’s Seed Co-Investment Fund.  Through the fund, NZVIF partners with groups like Venture Accelerator to invest in early stage businesses with strong potential for high growth. 

Franceska Banga said the Seed Co-Investment Fund is an important product in NZVIF’s investment portfolio.

“This is the ninth partnership we have entered into through the Seed Co-Investment Fund.  Through these partnerships, we and our partners have jointly invested over $16 million into 18 companies.”

ends
 

 

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Crown Accounts: Slightly Softer Growth Expected In PREFU

A slightly softer growth forecast is the main feature of largely unchanged Pre-election Fiscal Update compared to the Budget forecasts three months ago, Finance Minister Steven Joyce says. More>>

ALSO:

Water: Farming Leaders Pledge To Help Make Rivers Swimmable

In a first for the country, farming leaders have pledged to work together to help make New Zealand’s rivers swimmable for future generations. More>>

ALSO:

Unintended Consequences: Liquor Change For Grocery Stores On Tobacco Tax

Changes in the law made to enable grocery stores to continue holding liquor licences to sell alcohol despite increases in tobacco taxes will take effect on 15 September 2017. More>>

Back Again: Government Approves TPP11 Mandate

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>

ALSO:

By May 2018: Wider, Earlier Microbead Ban

The sale and manufacture of wash-off products containing plastic microbeads will be banned in New Zealand earlier than previously expected, Associate Environment Minister Scott Simpson announced today. More>>

ALSO: