Brian Mayo-Smith joins NZ Venture Investment Fund

22 February 2006

Brian Mayo-Smith joins New Zealand Venture Investment Fund (NZVIF) Board

The New Zealand Venture Investment Fund (NZVIF) is pleased to announce the appointment by the Hon Trevor Mallard, Minister for Economic Development, of Auckland based company director Brian Mayo-Smith to the NZVIF Board of Directors.

Brian Mayo-Smith is a Chartered Accountant and Partner at BDO Spicers, who are one of the top Chartered Accounting and Business Advisory firms in New Zealand.

Mr Mayo-Smith is also a Director of a number of private companies, particularly in the Information Technology arena.

NZVIF Chairman John Grant said “the Board is very pleased to have attracted a Director with such a strong understanding of the issues facing the venture capital industry in New Zealand today.

Brian’s knowledge of New Zealand capital markets, his experience of investing in early stage technology businesses and his experience of investing in venture capital funds makes him ideally suited to join our Board” John Grant commented.

John Grant added “Brian also has extensive experience and expertise in corporate governance and due diligence, and he has worked professionally across a diverse range of businesses in New Zealand and overseas.”

In 2005, the $40 million Seed Co-Investment Fund was added to the NZVIF responsibilities, increasing the scope of its operations. The Government fund provides seed funding for co-investment with selected private investors and complements the existing $100 million VIF Venture Capital program, also a Government fund.

John Grant said “the Ministerial appointment was made following a selective search conducted by Government to find the right person to work with us on the Board’s enlarged role in fostering a vibrant venture capital market in this country.”

ENDS

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