Venture Capital Fund

NZVIF is a fund of funds investor in New Zealand’s venture capital market. We invest with funds focused on investing into New Zealand-originated, high-growth potential companies.

Currently, we have $160 million of funds under management for investment alongside private sector co-investors in a series of privately managed venture capital investment funds.

Highlights – August 2010

Capital Committed	$109 m
Number of VIF Venture Capital Funds	6
Number of companies funded	49
Amount invested through programme (VIF + Private sector)	$260 m*

*Includes investments, management fees and fund costs

Overview

The NZVIF Venture Capital Fund is an equity investment vehicle investing $160 million into a series of privately-managed venture capital investment funds.

The venture capital funds we invest in are fixed duration, private equity investment vehicles, typically operating for ten years, investing in a portfolio of New Zealand-originated high growth potential companies.

NZVIF only invests in funds which have been successful in raising matching capital from private investors. The amount that NZVIF invests in a fund is dependent on the overall fund size as well as the investment stage and focus of the fund. The maximum amount that NZVIF is able to invest in any venture capital fund is NZ$25 million.

The venture capital fund managers we invest in - not NZVIF - make decisions about which companies to invest in. Investments are likely to be focused on technology companies with potential for high growth. Investments must be in New Zealand-originated businesses through the seed, start-up and expansion stages of their development.

For more background on the New Zealand private equity and venture capital market, go to Private Equity and Venture Capital in New Zealand.

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