News
0 New regional private equity fund Oriens Capital on track to close at over $50m

Media Release

The Oriens Capital Private Equity Fund is on track for a final close of around $50 million on 31 December, after making excellent progress following its first close at $30 million in August.

John McDonald, the Chair of the General Partner, which is charged with overseeing the operation and compliance of the Fund, congratulated the Oriens Capital team for a great result at an investor update function held in Tauranga last week attended by over 60 investors.

“We now have a significant regionally focused Fund with around $50 million to invest in New Zealand businesses.”

 
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0 NZ Super Fund to invest up to $260M in local SMEs

Dec. 19 (BusinessDesk) – The New Zealand Superannuation Fund will invest as much as $260 million over the coming decade in small-scale local enterprises through three new mandates with Kiwi private equity firms.

NZ Super will invest up to $90 million in Direct Capital’s V fund, up to $120 million in Pioneer Capital’s III fund, and up to $50 million in Movac’s IV fund over the next five to 10 years, it said in a statement. Each fund is expected to invest in eight to 15 separate companies.

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0 New Zealand’s biomedical sector to benefit from Australian Government initiative
The Australian Government’s launch of the AUD$500 million Biomedical Translation Fund (BTF) this week, an initiative to make Australia a global leader in the commercialisation of biomedical discoveries, will benefit New Zealand’s biomedical sector, says Dr Chris Nave, Managing Director of venture capital firm, Brandon Capital.
In April this year New Zealand joined the MRCF, enabling New Zealand research organisations to become members of the fund and seek investment support for emerging technologies from the third MRCF fund, MRCF3, an AU$200 million fund. Currently six New Zealand research institutes are members of the MRCF.
News
0 Bluebridge ferry service bought by Australian private equity

Dec. 6 (BusinessDesk) – The company behind Interislander rival, Bluebridge Cook Strait Ferry Service, has been sold to an Australian private equity group.

Strait Shipping, which runs the Bluebridge service between Wellington and Picton, is being bought alongside Freight Lines and the freight forwarding business, Streamline, in a deal that’s expected to settle in the first three months of next year. No price is being disclosed.

All were founded by industry veteran Jim Barker, who died in August this year.

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0 Big Read: Big money learns new tricks

Some of New Zealand’s biggest companies are lending their muscle to help start-up businesses get off the ground, reports Fiona Rotherham.
After Kiwi entrepreneur Phil Thomson read about Westpac-backed corporate venture fund Reinventure Group, he approached it for money to help expand his start-up company, Auror, into Australia.

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