NZVIF appoints its new head

New CEO replaces long-serving Franceska Banga.

The New Zealand Venture Investment Fund has appointed Richard Dellabarca to replace departing chief executive Franceska Banga.

Mr Dellabarca, a former investment banker and technology company executive who also sits on the boards of NZ Post, NZ Rugby, Kea NZ, will begin the role at the end of this month.

NZVIF chairman Murray Gribben says Mr Dellabarca brings capital markets and tech company experience to crown-owned NZVIF, which has invested $162 million into 213 companies.

“Richard joins NZVIF having spent much of his working life based in the United Kingdom, working across the US, Europe and Asia markets.  He returned to New Zealand after 14 years offshore.  He has held a variety of leadership roles in venture capital and private equity backed opportunities, capital markets and financial technology.

“As NZVIF looks to transition to a self-sustaining commercial model, Richard’s private sector experience and extensive international networks could help to bring external capital to partner with NZVIF’s existing capital base for investment in New Zealand growth opportunities.”

Ms Banga has been chief executive since the fund’s establishment in 2001.

Since then, eight of the companies it has invested into have listed, including Orion Health and Xero.

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