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

 

Tech Sector Fund Provides Rare Opportunity To Invest Directly Into Burgeoning Sector

One of New Zealand’s leading venture capital firms is providing ordinary Kiwis with an opportunity to invest directly into the burgeoning tech sector.

This week, Punakaiki Fund launched its 2020 Retail Offer to the public. The six-year-old $65 million fund has investments in 14 fast-growing tech companies (see the list below).

Half of the new funds raised through this offer will be invested into those companies, and the other half into new investments in other fast-growing companies.

“This is a great time to invest in the New Zealand tech sector,” says Punakaiki director Lance Wiggs. “Xero has shown the way by reaching the landmark valuation of $20 billion. We’re hunting for that next Xero, and our 10 software-as-a-service companies are themselves delivering combined annualised revenue of $87.8 million (as at September 2020). Four of these alone are responsible for over $75 million of this revenue, which is very encouraging.

“we also have investments in four non-SaaS technology companies, which are also collectively substantial, with $57 million in trailing twelve months revenue to the end of September 2020.”

Rising share price

The Punakaiki share price has risen on the back of that success. The iNAV/share has risen from $23.31 at year end March 2020, to $23.92 at the end of June 2020, $25.36 at the end of September 2020 and to $25.67 on the 20th of November 2020 - the valuation used to price this offer.

Punakaiki chairman Mike Bennetts says the Fund is still in the early to mid-phases of its cycle of investment and returns, with an average shareholding investment period of 3.3 years.

“We are achieving a 13% per year return for our investors based on the current Investor Net Asset Value per Share. We target a 20% annualised return for all investors but cannot make return predictions as there are many factors out of our control.”

Product Disclosure Document

The Retail Offer is open to the public and closes at midnight on December 17.

You can read the Product Disclosure Statement at:

https://punakaikifund.co.nz/files/PunakaikiFund2020PDS.pdf

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

TradeMe: Property Prices In Every Region Hit New High For The Very First Time

Property prices experienced their hottest month on record in December, with record highs in every region, according to the latest Trade Me Property Price Index.\ Trade Me Property spokesperson Logan Mudge said the property market ended the year with ... More>>

Motor Industry Association: 2020 New Vehicle Registrations Suffer From Covid-19

Chief Executive David Crawford says that like some other sectors of the New Zealand economy, the new vehicle sector suffered from a case of Covid-19. Confirmed figures for December 2020 show registrations of 8,383 were 25% ... More>>

CTU 2021 Work Life Survey: COVID And Bullying Hit Workplaces Hard, Huge Support For Increased Sick Leave

New data from the CTU’s annual work life survey shows a snapshot of working people’s experiences and outlook heading out of 2020 and into the new year. Concerningly 42% of respondents cite workplace bullying as an issue in their workplace - a number ... More>>

Smelter: Tiwai Deal Gives Time For Managed Transition

Today’s deal between Meridian and Rio Tinto for the Tiwai smelter to remain open another four years provides time for a managed transition for Southland. “The deal provides welcome certainty to the Southland community by protecting jobs and incomes as the region plans for the future. The Government is committed to working on a managed transition with the local community,” Grant Robertson said. More>>

ALSO:

OECD: Area Employment Rate Rose By 1.9 Percentage Points In The Third Quarter Of 2020

OECD area employment rate rose by 1.9 percentage points in the third quarter of 2020, but remained 2.5 percentage points below its pre-pandemic level The OECD area [1] employment rate – the share of the working-age population with jobs – rose ... More>>

Economy: Strong Job Ad Performance In Quarter Four

SEEK Quarterly Employment Report data shows a positive q/q performance with a 19% national growth in jobs advertised during Q4 2020, which includes October, November and December. Comparing quarter 4, 2020, with the same quarter in 2019 shows that job ad volumes are 7% lower...More>>

NIWA: 2020 - NZ’s 7th-warmest Year On Record

The nationwide average temperature for 2020, calculated using stations in NIWA’s seven-station temperature series which began in 1909, was 13.24°C (0.63°C above the 1981–2010 annual average). New Zealand’s hottest year on record remains 2016, when... More>>

Quotable Value New Zealand: Property Market Set To Cool From Sizzling To Warm In 2021

Nostradamus himself could not have predicted the strange series of events that befell our world in 2020 – nor the wild trajectory of New Zealand’s property market, which has gone from “doom and gloom” to “boom and Zoom” in record time. Even ... More>>