What’s at stake: Venture capital funds want an influx of growing KiwiSaver money to help provide $5b of investment New Zealand high growth startups need in the next five years. The $100m top-up to the Elevate fund of funds not enough to sustain momentum, the industry says.
Background: The Government set up Elevate in 2020 with a $300m fund to plug a gap in Series A funding and stimulate the nascent venture capital market
Main players: NZ Growth Capital Partners, Elevate, Startup Advisors Council, venture capital funds, KiwiSaver funds.
A number of venture capital (VC) funds are raising capital for their next vintages or planning to this year (see table below). In the case of Bridgewest Ventures, it’s trying to raise $100 million for its first fund.
It’s a tough road in the current economic climate with a global pull back in
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Key points
What’s at stake: Venture capital funds want an influx of growing KiwiSaver money to help provide $5b of investment New Zealand high growth startups need in the next five years. The $100m top-up to the Elevate fund of funds not enough to sustain momentum, the industry says.
Background: The Government set up Elevate in 2020 with a $300m fund to plug a gap in Series A funding and stimulate the nascent venture capital market
Main players: NZ Growth Capital Partners, Elevate, Startup Advisors Council, venture capital funds, KiwiSaver funds.
