NZVIF raises investment cap of seed-stage vehicle

The New Zealand Venture Investment Fund (NZVIF), a government-sponsored fund-of-funds, has raised the investment cap of its Seed Co-investment Fund (SCIF) to $1.1 million (NZ$1.5 million) per company for stronger returns and to better support new start-up companies, said an NBR report.

SCIF is aimed at small to medium sized businesses at the seed and start‐up stage of development which have strong potential for high growth.

Investments from the fund were so far limited to a maximum investment of NZ$250,000 in any one company or group of companies with the possibility of follow‐on capital investments up to a maximum investment in any company of NZ$750,000, at the discretion of NZVIF, according to NZVIF website.

NZVIF will also be allowed to co-invest with qualified investors outside the traditional angel networks provided it will support promising companies that are trying to commercialise a product or service, the report added.

“The changes mean the fund will be more effective and able to back both the promising companies alongside its angel partners,” Economic Development Minister Simon Bridges was quoted saying in the report. “We expect this will improve returns, which New Zealand Venture Investment Fund will use to invest in more new and promising start-ups,” he added.

The NZVIF was established by the New Zealand government in 2002, and currently has $245 million of funds under management which are invested through two vehicles: the $195 million Venture Capital Fund of funds, and the $50 million SCIF.

SCIF was established in late 2005 and made its first investment in 2006. It is co-investing $50 million into young technology companies alongside selected angel groups.

Also Read:

NZVIF, Enterprise Angels commit $14.3m to NZ startups over next 4 years

NZVIF commits $13.5m to Movac Partners’ fourth fund

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.