Coalition should back new VC funds to bridge gap

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The Icehouse chief executive Andy Hamilton wants the government to back another three to four $50-150 million seed series A & B funds to resolve the growth funding gap for the country’s small to medium-sized enterprises (SMEs).

New Zealand startups are disproportionately backed by angel investors compared with other markets, which impacts on their growth and success rates, while there are few venture-backed startups, he says.

That’s because buildings a startup from New Zealand is really hard and there in not yet a big track record of that happening successfully to create the returns that would lead to an asset class being established.

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