New Zealand First Celebrates Launch Of $300 Million Venture Capital Fund
“It is incredibly good news that the much anticipated $300 million venture capital fund announced in last year’s budget is now open for business,” says Deputy Leader for New Zealand First and Spokesperson for Finance and Revenue, Fletcher Tabuteau.
“There has long been a gap in investment funding in New Zealand, something New Zealand First had identified for some time,” Fletcher Tabuteau said.
“This coalition Government listened to businesses and experts, and now we finally have a fund that enables targeted support to assist New Zealand firms that expand beyond the early start-up phase, something the previous Government knew was a problem but did nothing about.
“We can now really make the most of commercial opportunities on the global stage and alleviate the pressure on Kiwi companies selling prematurely to overseas buyers. This will mean more kiwi big businesses and better paying jobs for New Zealanders.
“The venture capital fund will be particularly good for developing good Kiwi ideas in growth industries such as agribusiness, agritech, technology and IT.
“I am excited about all the opportunities the venture capital fund will bring in helping Kiwi business progress from their early risk stages, into big global players, leading to increased revenue that stays in New Zealand and more Kiwis in higher paying jobs,” Fletcher Tabuteau said.