New rules enable firms to raise up to $2m a year without having to issue a prospectus.
Around a dozen companies have indicated interest in setting up crowd-funding or peer-to-peer lending platforms as new rules come into force making it easier for businesses to raise capital.
Online crowd-funding platform PledgeMe has announced it is moving into equity crowd-funding – and founder Anna Guenther could not be more excited.
It followed Cabinet’s recent approval of new regulations for crowd-funding and peer-to-peer lending, as part of the Government’s financial market overhaul.
New Zealand technology firms are rolling into global markets, selling software to businesses that locks down mundane tasks like accounting and expenses, rather than developing slick social media apps that consumers download free of charge.
Led by Wellington-based Xero Ltd and its self-styled “beautiful accounting software”, the South Pacific island nation’s blossoming cloud-based tech industry is now the country’s third-biggest export earner behind dairy and tourism.
The two techs I’d most like to see on the NZX, Vend and Orion Health, are also the two least likely to list in the immediate future.
They’re both doing just fine from organic growth, and private equity raising – and Vend’s latest success with the latter has probably just pushed the possibility of an IPO even further over the horizon.
In a speech on his Financial System Inquiry last week, chair David Murray voiced his interest in exploring ways to create a “more dynamic” venture capital funding environment in Australia.
The comments were welcomed by the Australian Private Equity and Venture Capital Association Limited (AVCAL) who have highlighted the significant challenges in fundraising across both the venture capital and private equities industries in recent years.